Economy

xchrom

(108,903 posts)

7. Germany Just Dragged Europe's Growth To A 16-Month Low

Thu Nov 20, 2014, 07:23 AM

Nov 2014

http://www.businessinsider.com/europe-eurozone-pmi-nov-2014-2014-11

The Eurozone's composite PMI just came in at 51.4, the lowest in 16 months. That's after some unexpectedly poor numbers for Germany. The major business survey is pointing to a significant slowdown in Europe.

Analysts had expected the PMI (purchasing managers index) figure to come in at 52.3 overall, an improvement from October's 52.1.

Output in the eurozone is falling back toward the neutral 50 mark. Anything below that level signals a contraction, and recession.

As the largest economy in Europe, Germany has an over-sized effect on the whole continent: when they sneeze, everyone else catches a cold. So a slowdown in PMI numbers there can drag the whole index down. Germany's also weighing on efforts to revive Europe's economy, dragging its feet on stimulus plans at both the domestic and European levels.

Read more: http://www.businessinsider.com/europe-eurozone-pmi-nov-2014-2014-11#ixzz3Jbh62L6b

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