ECB's Villeroy
ECBs Villeroy is weighing in after weaker data today:
- ECB is achieving a soft landing
- Not behind the curve today
- Will pay close atttention to risk of undershooting target, keeping economic activity unnecessarily subdued.
- See continuity of resilence of growth
The PMI flash data today were soft (is that a soft landing). Each missed expectations to the downside that is....
- EUR German Final GDP q/q: MISSED - Actual 0.1% vs. Forecast 0.2%, Previous 0.2%.
- GBP Retail Sales m/m: MISSED - Actual -0.7% vs. Forecast -0.3%, Previous 0.1%.
- EUR French Flash Manufacturing PMI: MISSED - Actual 43.2 vs. Forecast 44.6, Previous 44.5.
- EUR French Flash Services PMI: MISSED - Actual 45.7 vs. Forecast 49.1, Previous 49.2.
- EUR German Flash Manufacturing PMI: MET - Actual 43.2 vs. Forecast 43.1, Previous 43.0.
- EUR German Flash Services PMI: MISSED - Actual 49.4 vs. Forecast 51.6, Previous 51.6.
- EUR Flash Manufacturing PMI: MISSED - Actual 45.2 vs. Forecast 46.0, Previous 46.0.
- EUR Flash Services PMI: MISSED - Actual 49.2 vs. Forecast 51.6, Previous 51.6.
- GBP Flash Manufacturing PMI: MISSED - Actual 48.6 vs. Forecast 50.0, Previous 49.9.
- GBP Flash Services PMI: MISSED - Actual 50.0 vs. Forecast 51.9, Previous 52.0.
