Containment Theory Blows Sky High: German Manufacturing PMI Plunges to 45; French Manufacturing PMI Plunges to 44.4, Sharpest Contraction in 3 Years

"The Pollyannas who thought the European recession would be short, shallow, and contained to the periphery have another thing coming. All three ideas were downright silly as I have long stated.

French Manufacturing PMI Plunges to 44.4, Sharpest Contraction in 3 Years

Markit reports French private sector output falls at sharpest rate for over three years.

Key points:

Flash France Composite Output Index drops to 44.7 (45.9 in April), 37-month low

Flash France Services Activity Index unchanged at 45.2

Flash France Manufacturing PMI falls to 44.4 (46.9 in April), 36-month low

Flash France Manufacturing Output Index declines to 43.6 (47.5 in April), 36-month low..."

at http://globaleconomicanalysis.blogspot.com/2012/05/containment-theory-blows-sky-high.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29