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Europe Day Ahead: Euro zone seen improving...but not by much

Wednesday, May 22, 2013 - 02:10

May 22 - Euro zone flash PMIs to show slight improvement, ECB president Mario Draghi speaks in London and Spain sells debt.

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It's all about the eurozone on Thursday on the flash PMI's. The first good season to economic activity across the region. Are expected to issue a very -- improvement on the manufacturing and services sectors still contracting for the most pot just until slower pace. So the euros or mid music still being sent by recession according to I caps -- Tyson. We've got the PMI numbers tomorrow. Which you sort of reinforce this this message that caveat activity struggling that and it's also going to be an -- to -- difficult -- to -- the -- going forward. Eurozone consumer morale is also expected to show a slight improvements in May although CEOs of crisis. And austerity means consumer spending remains extremely weak. And that in a second GDP we think is expected to confirm the economy grew at three tenths of 1% in the first quarter. However fingers on Wednesday showed UK retail sales fell at the -- -- pace and I yet suggesting a weak start to Q2 for the front dial economy. Staying in Britain ten months after his famous what's evident -- speaks to save the Euro European Central Bank president Mario Draghi returns to London. He's speaking at an event entitled the future of Europe in the global economy. Meanwhile some believe that fed president James bailout is also in London giving a lecture on the US economy and monetary policy. Plus German Chancellor Angela Merkel speaks in that the city of nine Macon. She's being awarded an honorary scotsman from rob what university -- contribution to civil society a commitment to Europe. Until recognition of the importance of science. And the European bond markets Spain sells four billion euros of bonds maturing in 35 and fifteen years. Despite the country's deep recession and record high unemployment. Spain's borrowing costs have fallen sharply since July. So much so I treasury official said today that Spain is studying a possible fifteen just indicated sovereign bond issue later this year. That's I'll look ahead to Thursday. I continue to give up the central it's.

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Europe Day Ahead: Euro zone seen improving...but not by much

Wednesday, May 22, 2013 - 02:10