Wednesday, December 3, 2014

3/12/2014: Euro Area PMIs: November

And we have a trend toward the *new ugly* (via Markit): Eurozone economic activity growth  signal hits a 16-month low:

Take a look at these numbers:

Ouch!.. overall growth (most likely not statistically significant) and no signal of recession, yet. But a big slowdown on Composite reading. Pace of expansion is falling:

Caveat to the above: Ireland and Spain are still robust. Italy in a strange surprise (dead-cat-bounce?) and France in a tailspin, while Germany is sliding:

More details on Ireland's performance here:

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