The European Implosion Continues, Horrible News Everywhere. Italy Warned of ‘Sudden Changes’ in Market Sentiment
May 2nd, 2013
CONFIRMED: Europe’s Strongest Economy Continues To Contract
April PMI for Germany came in at 48.1, which is down from 49.0 last month. Anything below 50 is contraction.
What’s worse, there was a reduction in staffing levels, and total manufacturing output had its first drop all year.
Here’s a quick summary.