$EUR: PMI composite dropped by 0.7 points in November. Roughly in line with our call of -0.8. #ECB historically more likely to cut rates than to hike rates with PMI's down here pic.twitter.com/heuCWROuKM

— Martin Enlund 🦆🚁 (@enlundm) November 23, 2018

With most of #Europe yet to pursue a policy-driven transition from cyclical to structural/secular #growth, the #European expansion continues to lose steam. This was confirmed by this morning's weak #PMI data (see below from the @FT). https://t.co/1YjgBco3Ba#economy #markets pic.twitter.com/5OzVcPoEUu

— Mohamed A. El-Erian (@elerianm) November 23, 2018