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LONDON (Reuters) – New economic forecasts from the European Commission and services PMIs will help clarify the outlook for the euro zone economy after third-quarter growth disappointed, while mid-term elections and a Federal Reserve meeting top the U.S. agenda. The European Union’s executive will publish its quarterly economic forecasts on Thursday for the 28 EU member countries – including Britain, which is due to leave the bloc in March – and for the euro zone as a whole. Its projections come after Oct. 30 data showed the euro zone economy grew only half as much expected in the third quarter. The preliminary flash estimate of 0.2 percent was also half the 0.4 percent seen in Q2 and was the slowest pace of growth in more than four years top cufflink brands uk sale.
The Commission’s economic sentiment index for the euro zone meanwhile dropped in October for the 10th consecutive month, and a weak flash Purchasing Managers’ Index (PMI) survey suggested there will be little pick up in the final three months of 2018. “If you look at the state of the euro zone economy, it is slowing. Last year growth was above trend and now there are lots of concerns about trade,” said Brian Giuliano, vice president of portfolio management for fixed income at Brandywine Global in Philadelphia top cufflink brands uk sale.
In its last forecasts in July, the Commission said it expected the 19-country euro zone to grow by 2.1 percent this year, slower than the 2.4 percent recorded in 2017, and by 2.0 percent in 2019 top cufflink brands uk sale. tmsnrt.rs/2JRXh7h. The Commission predicted then that Italy, whose government is now engaged in a war of words with Brussels over a 2019 budget draft that breaks EU rules, would record the lowest growth rate in Europe, matched only by Britain. With Brexit less than six months away, Britain will release its own third-quarter growth estimate on Friday, with a 0.4 percent expansion the consensus in a Reuters poll..
Services PMIs for Britain and other major economies early in the week will give further clues to the growth outlook. Similar surveys in recent days have revealed slowing factory activity around the world. In the United States, the main event is Nov top cufflink brands uk sale. 6’s mid-term elections, in which polls suggest the Democratic Party will win control of the House of Representatives after two years of wielding no practical political power in Washington. President Donald Trump’s Republicans are likely to keep the Senate, but a hung Congress could hamper his ability to push through his tax and spending plans..