Europe: Focus on PMIs today – TDS

Analysts at TD Securities point out that in the Europe, flash PMIs for April are released in and will be a key event.

Key Quotes

“For the German Manufacturing PMI, lagged Asian data point to continued spillovers and thus yet another deterioration in the series to 43.1 (mkt: 45.0), still in sharp contraction territory. We note a growing divergence between the industrial sector in Germany vs the rest of the euro area. A resurgence in the "gillets jaunes" protests in France likely held the Services PMI there unchanged at 49.1 (mkt: 49.8).”