In the euro area the new week will be kicked off with the release of the preliminary PMI figures. We expect the manufacturing figure to improve moderately mainly due to the signs of stabilisation in the Chinese PMI. Moreover, we have started to see the effective euro weakening, which will support exports while the financial stress has also eased off.
This afternoon we will also get preliminary Markit PMI manufacturing figures for the US. The manufacturing PMI has not painted the same negative picture as the ISM manufacturing and the question is whether the PMI is too high or the ISM too low (or both?).
This week there will be a lot of focus on Norway as there are several important data releases. Most important is the oil investment survey due tomorrow. The survey will say a lot about activity and growth contributions in 2016, which could affect Norges Bank's growth projections and so its interest rate decision in December.
In the Scandi markets focus is on a speech by Norges Bank governor Olsen and employment figures in Denmark. For more details see Scandi Markets.
To Read the Entire Report Please Click on the pdf File Below