Expert Views on the Euro Area Economy and the ECB Rate Path
Oxford Economics Macro Specialist for Europe Daniel Kral commented on the September PMI for the Eurozone, stating,
“Eurozone composite PMI dropped to contraction territory in September as the one-off boost from Paris Olympics faded. Downside risks to growth in Europe are mounting on top of an imminent fiscal consolidation, while the ECB is again behind the curve.”
US Services Sector Activity Slows
On Monday, the crucial US S&P Global Services PMI further eased fears of a hard US economic landing. The Services PMI fell modestly from 55.7 in August to 55.4 in September. The services sector accounts for almost 80% of the US economy, giving the services PMI more weight than manufacturing sector-related data.
US Market Trends
On Monday, September 23, the US equity markets kickstarted the week positively. The S&P 500 advanced by…
