The unhealthy information retains coming for Europe’s economic system, and in case you’re in America resist the temptation to brag. Information launched Tuesday recommend that the eurozone is in a recession or quickly shall be, and the timing couldn’t be worse for the bloc of American allies and buying and selling companions.
The composite buying managers’ index (PMI) launched by S&P International got here in at 49.2, down from 49.9 the month earlier than. Something under 50 signifies a decline, so enterprise exercise has been falling for 2 months, and now could be at an 18-month low. Service companies registered a barely expansionary 50.2, the bottom in 17 months, and manufacturing output at 46.5 is in recession territory regardless of some latest enchancment.
