German factory orders and Euro area retail sales in focus – Danske Bank
Analysts at Danske Bank expect that euro area retail sales and German factory orders will be the key economic releases in today’s European session.
Key Quotes
“In the euro area, retail sales are scheduled for release. After a large monthly increase in October, we estimate a downward adjustment in the November figure. We believe the rising oil price in November was a headwind to retail sales despite consumer confidence remaining high and employment growth continuing.”
“German factory orders for November are also due to be released tomorrow. They saw a significant 4.9% monthly increase in October, witnessing a strong manufacturing sector as also indicated in recent manufacturing PMIs. Following October, we estimate a monthly fall for November but the strength of manufacturing PMIs suggests the manufacturing sector will remain strong throughout Q4.”