Sept Flash PMIs Preview - From 0815BST

EZ Mfg: BBG: 51.9 Sep vs 51.7 Aug; EZ Services: BBG: 50.5 Sep vs 50.5 Aug
FR Mfg: BBG: 50.6 Sep vs 49.8 Aug; FR Services: BBG: 51.5 Sep vs 51.5 Aug
DE Mfg: BBG: 52.5 Sep vs 52.2 Aug; DE Services: BBG: 52.8 Sep vs 52.5 Aug
UK Mfg: BBG: 54.0 Sep vs 55.2 Aug; UK Services: BBG: 56.0 Sep vs 58.8 Aug

• All flash PMIs are forecast to register above the 50 mark in Sep, indicating that activity is increasing compared to the previous month.
• France's mfg PMI is expected to tick up in Sep to 50.6 after falling to 49.8 in Aug, while the services PMI is forecast to remain unchanged at Aug's level of 51.5.
• Both German flash PMIs are expected to edge up slightly with the mfg as well as the services PMI both forecast to rise by 0.3pt to 52.5 and 52.8, respectively, indicating that the recovery is still ongoing.
• The flash EZ PMIs also incorporate data for Italy and Spain, even though their flash results are not published.
• The EZ mfg index is anticipated to rise to 51.9, up 0.2pt. while the services PMI is seen unchanged in Sep at 50.5 and the composite PMI is forecast to fall slightly to 51.7.
• The UK's mfg and the services PMI are forecast to edge lower with the mfg PMI forecast to drop to 54.0, down from 55.2 recorded in Aug, while the services PMI is projected to fall to 56.0, down from 58.8.
• The PMIs recovered sharply in the last months, mainly due to reopening effects which are likely to fade going forward.
• Moreover, the rising Covid-19 cases in Europe and subsequently imposed strict restrictions in several countries are likely to weigh on activity and demand going forward.