Deluge Of Unwelcome Data Virtually Screams ‘Synchronous Global Slowdown’
Another day, another deluge of potentially worrisome economic indicators.
To be sure, the PMI data out of Europe wasn't all bad, but it continues to paint a picture of a bifurcation between services and manufacturing, with weakness in the latter indicative of the global slowdown narrative.
The flash Eurozone Manufacturing PMI printed 49.2 for February, down from 50.5 in January. That's a 69-month listless nadir. New orders fell to 46.2, the lowest since April 2013 and the fifth consecuti
Not to be outdone the Philly Fed Manufacturing prints at -4.1
Maybe just me but there is only so much junk one can buy.
Those Yooropans don’t get it. It’s real simple. They just need more coal mines.