GLOBAL ECONOMIC COLLAPSE ACCELERATING: The Economic Crisis Has Infected Europe’s Core!!! IRISH BANK CYPRUS”D!! HUNGARIAN CENTRAL BANK LOWERS BENCHMARK RATE TO 1.00%, 4% RATE CUT!!! Latest Chinese, German, French, US PMI Data Disappointing! Profits Margins Are The Lowest Since Q1 2010!!

Tuesday, April 23, 2013
By Paul Martin
April 23rd, 2013

Latest Global Economic Slowdown Confirmed After Disappointing Chinese, German PMI Data

If there was any debate about the global economic contraction, driven largely due to pundits confusing manipulated stock market levitation with this anachronistic thing called the “economy” and fundamentals for the fourth year in a row, all doubts were removed after this morning’s manufacturing PMI data out of China, which as reported previously was a big disappointment (sending the Composite firmly into the red for the year down 2.57% to 2184.5) only to be followed by just as disappointing manufacturing and services PMI data out of Germany, which tumbled from 49 and 50.9 to 47.9 and 49.2, respectively, missing estimates of 49.and 51. This was the first decline in the German private sector since November 2012 and thus, for Europe’s growth core.

The composite German PMI tumbled to a 6-month low of 48.8 as a result, dropping at its fastest pace since October 2012, meaning the European economic deterioration is just getting started, and at the worst possible time for Merkel several months ahead of her reelection campaign. The end result was a miss in the blended Eurozone Mfg PMI, which dropped from 46.8 to 46.5, even as the less relevant Services component eaked out a small gain from 46.4 to 46.6, on the back of a dead cat bounce in French economic indicators. Bottom line: a contraction in both European manufacturing and services for the 15th consecutive month. Some “recovery.”

The Rest…HERE

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