Eurozone data likely to show recovery
Afp, Brussels
Eurozone indicators to be released in the coming week are expected to confirm recent signals of a recovery in the manufacturing industry and mild improvements in the services sector, economists said. The eurozone purchasing managers' index report for the manufacturing sector is due out on Monday, followed by the services PMI on Wednesday. "The broad improvement in national business surveys leaves no doubt that the PMI will rebound sharply in September," economists from US investment bank Goldman Sachs said. They added: "We expect the manufacturing PMI to rise from 50.4 to 52.5. In the services sector, some improvement should also be recorded, with the index rising from 53.3 to 54.0." Commenting on upbeat business confidence reports from Germany and Italy, economists from Credit Suisse First Boston believed that "a similar upwards movement in the manufacturing PMI would give a further confirmation that economic momentum is again picking up in the euro area".
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