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Europe Week Ahead: EZ PMI Releases, UK BoE Minutes, -CPI
Eurozone flash PMIs for August will likely signal a deterioration in the business climate in line with the intensification of the conflict with Russia. The most visible effect would be in the export-oriented industries. Hence we expect a fall in the manufacturing PMIs across the Eurozone, as businesses pare back their prospects for new orders. Business confidence in Germany is likely to deteriorate sharply as suggested by the decline in the ZEW index earlier this month. The German services sector is likely to prove more resilient thanks to strong domestic demand. We expect a 0.7 point fall in the German PMI ... (full story)