Friday, July 22, 2011

Eurozone debt fears hit business and consumer confidence

Phillip Inman,

A collapse in business and consumer confidence across the eurozone brought a dramatic slowdown in July, with business surveys indicating that the region almost stopped growing.

Worries about the sovereign debt crisis and fears of a downturn in world trade undermined economic activity, which until recently was rising steadily, driven by strong German exports.

The Markit Flash Eurozone PMI (purchasing managers' index) sank to 51.4 this month from 53.7 in June, its lowest level since September 2009 and falling far short of expectations for 53.0. It has been above the 50 mark that divides growth from contraction for nearly two years.

The manufacturing PMI fell to 50.4 from 52.0 in June, its lowest reading since September 2009 and missing consensus expectations in a Reuters poll for 51.5.


  1. The elite want everyone (except them of course) to be on the same level economically.

    Many think US citizens enjoy the highest standard of living. That is not true. For instance, the German people enjoy a higher standard of living.

    Once everything is leveled out, the Bank of the World can manage everyone across the board.

    The Chinese or Indian manufacturing slave will be doing much better. You will be doing much, much worse.

  2. germans doing well..until they pay their mandated portion into the new efsf fund for europe, then many other countries find they cannot pay their portion..then german peoples will have to pay those other countries portion of the efsf fund?

    what countries peoples have a surplus in europe? norway, swiss, finland, germany, france is very questionable...not even half can in truth afford to pay into an efsf fund for bailouts, so only a few will carry the load. maybe the US taxpayers will help-imf-but in truth do we have a surplus? And china, are they really healthy? LOLOLOL
    political and fiscal union, loss of sovereignty and privatization of formally national assets. mandates on policy and taxes and rights set by a panel are just some of what will arise from the collapse


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