Bad Economic Data Strikes Everywhere, As Europe Manufacturing Shows First Contraction In Over Two Years
Not helping things today: Fresh barometers of the economy in the form of PMI data.
In China. the HSBC's Flash PMI Manufacturing reading came in at 49.4, sub-50 for the thrid straight month, a sign of persistent weakness.
And in Europe, same deal.
According to Markit, the continent is now slipping into contraction for the first time in two years.