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European Economy On Brink Of Contraction. Again.
The European economy is stagnating. Again.
Preliminary PMIs for June, released on Friday, showed activity across the bloc all but flatlined early this month in a return to the no-growth quagmire that persisted during the first quarter. The surveys continued to suggest European manufacturing is grappling with recessionary conditions.
The flash read for this month on the bloc-wide, headline gauge was 50.3, well below consensus and perilously close to the contraction threshold. It was the worst p
