Eurozone: A week driven up by May’s PMI surveys - Natixis

According to the analysts at Natixis, in the Eurozone, this week will be mainly liven up by May’s PMI surveys as the indices in manufacturing and services sectors are already at historically elevated levels, a 6-years high.

Key Quotes

“However, despite the assessment of the current situation by the investors and the quite good momentum observed in the rest of the developed economies, we believe that it should remain stable in May. Thus we expect manufacturing PMI increasing to 56.8 (+0.1 point) and services remaining stable at 56.4. The composite PMI should thus stand at 56.8 in May.”

“Finally, the ECB will release the minutes of its last meeting by the end of the week. In Germany, the IFO might decline to 112.4 in May from 112.9. The expectations index should decrease by 0.7 point to 104.5 while present situation component would decline to 120.5 from 121.1.”