Published on Nov 23, 2023 at 3:56 p.m.
This Friday still promises to be calm, on paper, to the extent that the American markets, closed on Thursday for Thanksgiving, will only reopen for half a session, on the occasion of Black Friday. They will therefore close at 7 p.m. Paris time. Although there are no publications to report from the business side, we are still expecting, at 3:45 p.m., the S&P PMI purchasing managers’ index for the American manufacturing and non-manufacturing sectors for November.
The few meetings today are more focused on Europe. In Germany, after the GDP growth figures for the third quarter, we will see the Ifo business climate index for November. It will be at 10 o’clock. The Bloomberg consensus expects a small improvement, to 87.5 points, compared to 86.9 points in October. The expectations component is expected at 85.8 points, after 84.7 points, and that of the current situation at 89.5 points, against 89.2 points.
“The threshold for entering recession seems to have been crossed”
“ Since the start of the war in Ukraine, the German economy has shown great weaknesses, estimated the Oddo BHF firm at the start of the week. In the third quarter, the threshold for entering into recession seems to have been crossed. According to the preliminary estimate, real GDP fell by 0.1% compared to the previous quarter. The various business climate indices are pointing downwards and are in a zone of contraction in activity “.
In the United Kingdom, the GfK consumer confidence index will be presented, again for the current month.
A single meeting in the chapter of French companies, Laurent-Perrier unveils the results of the first half of its 2023-2024 financial year.