ECBs Villeroy: ECB is achieving a soft landing

ECBs Villeroy is weighing in after weaker data today:

• ECB is achieving a soft landing
• Not behind the curve today
• Will pay close atttention to risk of undershooting target, keeping economic activity unnecessarily subdued.
• See continuity of resilence of growth

The PMI flash data today were soft (is that a soft landing). Each missed expectations to the downside that is….

• EUR German Final GDP q/q: MISSED – Actual 0.1% vs. Forecast 0.2%, Previous 0.2%.
• GBP Retail Sales m/m: MISSED – Actual -0.7% vs. Forecast -0.3%, Previous 0.1%.
• EUR French Flash Manufacturing PMI: MISSED – Actual 43.2 vs. Forecast 44.6, Previous 44.5.
• EUR French Flash Services PMI: MISSED – Actual 45.7 vs. Forecast 49.1, Previous 49.2.
• EUR German Flash Manufacturing PMI: MET – Actual 43.2 vs. Forecast 43.1, Previous 43.0.
• EUR German Flash Services PMI: MISSED – Actual 49.4 vs. Forecast 51.6, Previous 51.6.
• EUR Flash Manufacturing PMI: MISSED – Actual 45.2 vs. Forecast 46.0, Previous 46.0.
• EUR Flash Services PMI: MISSED – Actual 49.2 vs. Forecast 51.6, Previous 51.6.
• GBP Flash Manufacturing PMI: MISSED – Actual 48.6 vs. Forecast 50.0, Previous 49.9.
• GBP Flash Services PMI: MISSED – Actual 50.0 vs. Forecast 51.9, Previous 52.0.

This article was written by Greg Michalowski at www.forexlive.com.