Flash Eurozone Manufacturing PMI inclined to at 52.8, what is a 19-month high, while Flash Eurozone Services PMI Activity Index came at 54.6 from 54.1 in October what is a 54-month high. The PMI shows a welcome acceleration of eurozone growth, putting the region on course for one of its best quarterly performances over the past four-and-a-half years. The data are signalling GDP growth of 0.4% in the closing quarter of the year, with 0.5% in sight if we get even just a modest uptick in December.
In the US session Existing Home Sales figures are scheduled for a release. Total existing-home sales fell 3.4% to a seasonally adjusted annual rate of 5.36 million in October from 5.55 million in September. Despite last month's decline, sales are still 3.9% above a year ago (5.16 million). Mixed signals of slowing economic growth and volatility in the financial markets slightly tempered demand and contributed to the decreasing pace of sales.
From Eurozone, tomorrow, German Business Climate data should be published. No significant change is anticipated. In the US session GDP and CB Consumer Confidence figures are scheduled for a release. Analysts are forecasting 2.0% increase, while Consumer Confidence is expected to increase to 99.3.
Figures to watch:
German Ifo Business Climate (Tuesday 10:00)
Prelim GDP (Tuesday 14:30)
CB Consumer Confidence (Tuesday 16:00)
