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2020/11/20 / Erste Group Research

Eurozone Sentiment data for November in Focus

Next week, key sentiment data for the assessment of the Eurozone economy in November will be released. As almost all Eurozone countries have gradually adopted restrictive measures since the beginning of October to curb the spread of COVID-19, sentiment in the services sector already deteriorated in October. In contrast, the mood in industry has continued to improve thanks to the dynamic economic recovery in Asia.

Will the FOMC react to this deterioration in the environment at the December meeting? There is no indication at present, but the publication of the minutes of the last FOMC meeting next week may provide more information. At the moment, it looks as if there will be no further easing of monetary policy,

After a strong slump of -12.5% q/q in 2Q, due to COVID-19 related containment measures, the Austrian economy showed a strong recovery of +11.1% q/q in 3Q. Due to the recent sharp increase in new COVID-19 infections and the recently imposed second lockdown, economic output will continue to decline in 4Q.

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General information

AuthorErste Group Research
Date2020/11/20
Languageen
Product nameWeek ahead
Topic in focusMacro/ Fixed income
Economy in focusEurozone, United States
Currency in focusEuro, US Dollar
Sector in focus-
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