08:15 AM BST, Spain - PMI Data for September:
- HCOB Spain Services PMI: actual 54.3; forecast 53.3; previous 53.2;
08:45 AM BST, Italy - PMI Data for September:
- HCOB Italy Composite PMI: actual 51.7; previous 51.7;
- HCOB Italy Services PMI: actual 52.5; forecast 51.5; previous 51.5;
08:50 AM BST, France - PMI Data for September:
- HCOB France Services PMI: actual 48.5; forecast 48.9; previous 49.8;
- HCOB France Composite PMI: actual 48.1; forecast 48.4; previous 49.8;
08:55 AM BST, Germany - PMI Data for September:
- HCOB Germany Services PMI: actual 51.5; forecast 52.5; previous 49.3;
- HCOB Germany Composite PMI: actual 52.0; forecast 52.4; previous 50.5;
09:00 AM BST, Euro Zone - PMI Data for September:
- HCOB Eurozone Composite PMI: actual 51.2; forecast 51.2; previous 51.0;
- HCOB Eurozone Services PMI: actual 51.3; forecast 51.4; previous 50.5;
Services are keeping the euro-area recovery afloat: activity re-accelerated in September on a jump in new business, leaving the Eurozone Services PMI at 51.3 and the Composite at 51.2, which HCOB’s nowcast translates into roughly 0.4% q/q GDP growth. The rebound is broad but uneven: Spain outperformed (services 54.3), Italy held steady in expansion (services 52.5; composite 51.7), and Germany moved back into growth (services 51.5; composite 52.0), while France slipped further into contraction (services 48.5; composite 48.1). Price pressures in services eased a bit, still above long-run averages but lower than in August, bolstering the case of ECB members arguing against additional near-term cuts.
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