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24th Nov 2015 04:53Eurozone, Economic Monitor

Yesterday's PMI reports repeated the message of a firm cyclical Eurozone recovery, despite investors' angst over deflation and the underwhelming Q3 GDP data earlier this month. The composite index in the zone rose to a 54-month high of 54.4 in November from 53.9 in October, lifted by strong output and solid new business growth. Our first chart shows the rise in the PMI points to slight upside risks in Q4 to the four quarter trend in real GDP growth of 0.4% per quarter.

pmi ecb germany staff services inflation gdp draghi qe trichet labour manufacturing eurozone consumers investment growth ifo

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Keywords for: 24 Nov. 2015 Bullish PMI Survey Won't Prevent Further ECB Stimulus

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