Asset Management Investors’ Outlook October 2019 Smokestacks fall as office buildings rise

Vontobel
By November 11, 2019 18:45

Asset Management Investors’ Outlook October 2019 Smokestacks fall as office buildings rise

Will European labor data hold?

All eyes are now on the jobs data. Should industry sentiment weaken further, it will at some point hit the labor market. This could then affect consumer sentiment and ultimately the services sector, pushing us towards a more pronounced downturn. The contagion from manufacturing is limited so far, but the clock is ticking. Consider the situation in southern Germany, the country’s manufacturing heartland. The job market there, usually in rude health, appears to be catching a slight cold already, which might soon start weighing on consumer sentiment. Meanwhile, the manufacturing cycle in the euro area seems to be bottoming out. 

Vontobel
By November 11, 2019 18:45

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