Davy Research

Market comment

European PMIs could bounce back in April

DAVY VIEW

This morning’s flash European PMIs are expected to be weaker in April following a disappointing Q1. Nonetheless, the decline in the March surveys was overdone by weather events, so we would not be surprised to actually see a bounce-back in April. The bigger picture is that while growth might have eased somewhat in Q1 2018, fears that the recovery has stalled are overdone. Annual GDP growth is still likely to be north of 2.5% in Q1 2018.

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