Euro-area GDP likely to grow at 0.5% in Q4, 15

The Euro-area flash PMIs  came in better than expected for November. The composite index of the region increased to a 4½-year high. The weaker EUR and signs of stabilization in China could be the main factor behind the improvement. 

The manufacturing PMI in France reached to the highest level this year. The composite PMI is reduced to the average Q3 level. The decline was mainly driven by the service sector. The service PMI in Germany reached the highest level this year. The manufacturing PMI of the economy increased to a level close to the average during the third quarter.

The growth rate of the euro area is expected to post 0.5% in Q4 of this year, estimates Nordea Bank.