"Bloomberg reports Stocks Decline in Europe After Worse-Than-Expected PMI
Data
Purchasing Managers Indexat http://globaleconomicanalysis.blogspot.com/2012/02/eurozone-pmi-worse-than-expercted-and.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
European (SXXP) services and manufacturing output unexpectedly shrank in February as the euro-area economy struggled to rebound from a contraction in the fourth quarter. A euro-area composite index based on a survey of purchasing managers in both industries dropped to 49.7 from 50.4 in January, London-based Markit Economics said in an initial estimate released by e-mail today. Economists had forecast a reading of 50.5, according to the median of 16 estimates in a Bloomberg News survey.
A separate report showed German services and manufacturing expansion unexpectedly slowed in February amid declining orders at factories in Europe’s largest economy..."
