Research Team at Nomura, note that although euro area economic momentum slowed slightly in October, it was still the second strongest since April.
“Furthermore, developments at the sector level did not show signs of any significant deterioration compared with September. The domestic consumer sector experienced marginally slower momentum compared with the previous month but is still accelerating at an above-trend level.”
“Also on the positive side, hiring intentions continued to accelerate in October, with momentum in hiring intentions at a three-month high. Foreign demand momentum slowed in October, consistent with growing concerns over the global growth outlook and weakness in some EM countries, albeit without signs of any significant deterioration.”