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European Central Bank's (ECB) unprecedented easing, which has unleashed more than €250 billion of liquidity in Euro zone seems to be working its magic for the economy as well as almost all subsectors, as per latest data from Markit economics.
According to sectorial PMI research,
- In July, Banks topped sectorial rankings, suggesting ECB's easing finally sipping into the performance of the sector, which is expecting better business days ahead. Financials were the fastest growing broad sector.
- Data also pointed out that consumers are warming up to better economic days as strong expansion in output were registered in beverages to Automobiles to Tourism.
- Commercial sectors seem to be improving to with expansion seen across industry, with greater expansion for machinery and equipment.
- Construction, however continues to lag and even contracted in July from June.
In spite of rate hike from FED and all global headwinds, European stocks are likely to outperform going ahead, especially after the rate hike from US Federal Reserve.
