In Europe: Recession, 500-Year Drought

The European economy is in trouble. I doubt that's news to anyone. But it was in the news again on Tuesday, courtesy of flash PMI readings for August, which suggested activity contracted again this month. The manufacturing and composite gauges compiled by S&P Global both printed in contraction territory (figure below). At 49.2, the composite index sat at an 18-month low. The manufacturing gauge, at 49.7, was the lowest since June of 2020. Although the services index managed to stay abov

Try one month of our best daily market and macroeconomic commentary for FREE

Try for free

Or see other subscription options to save 20% on an annual plan

Already have an account? log in

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.

NEWSROOM crewneck & prints