Euro Area's November composite and service PMIs to continue to show resilience in economy

Euro area's Markit composite PMI for the month of November is likely to record at 54.4, as per the market consensus expectations, while the final services PMI is expected to be 54.6.

Spain's Markit services PMI is likely to be at 56.4, as per consensus, Italy's Markit Services PMI is expected to be 53.9. France Markit composite and services PMI  both are expected to print declines to 51.3 readings in November, indicating they are related to the Paris attacks.

Germany's Markit services and composite PMIs for November is expected to be steady at 55.6 and 54.9 respectively, by the market consensus.

"Historically, the levels would be consistent with GDP growth of around 0.45% qoq. We are slightly more cautious (SG 0.3% qoq in Q4 15, 0.4% qoq in Q1 16)", says Societe Generale in a research note.