Skip to main content

Europe under pressure as German output declines


The bad news just keeps piling up for Europe.
An index of purchasing managers, formally known as the Markit flash eurozone PMI, came in at 46 in June, still showing contraction but unchanged from May. The index has been contracting since September, and it remains at the lowest level since 2009. The second quarter has also seen "the steepest downturn" in three years.
The only glimmer of hope is that the PMI didn't contract any further; any reading below 50 signals contraction. "They continue to point to a contraction in the economy but do not suggest that activity has collapsed," said Ernst & Young senior economic advisor Marie Diron.
While that slim silver lining may appease some worriers, the 17-nation eurozone is still suffering under massive amounts of debt in many of its sovereign nations ... and time is running out to save the likes of Greece and, to some extent, Spain.
And conditions in Germany, the healthiest and largest eurozone country, deteriorated for the second month, with output declining at the fastest rate in three years.
That could set the stage for a sharp decline in second quarter GDP.
"There is a risk that without decisive action by policymakers, confidence in the eurozone will rapidly deteriorate," said Diron. "Without clear commitments to take measures to restore stability in the region in a durable manner, the eurozone could fall into a much deeper recession."
Related: Should Draghi be more like Bernanke?
Some say the PMI figures could raise calls for a rate cut by the European Central Bank when it meets next month. Earlier this month, the ECB left interests rates unchanged at 1%, but the vote wasn't unanimous and raised chatter about what the central bank would do next.
ECB president Mario Draghi also recently said the central banks stands ready to help.
Today's PMI figures may make  the call to action grow louder.

Popular posts from this blog

Best Webcam Modeling Websites Where You Can Make Money 2018

So you want to be a webcam model, huh? Maybe you are not sure and just want to find out more information. Either way, you have come to the right blog! This post will tell you how you can become an online webcam model, making cash amounts that many only dream about. Yes, you can make some SERIOUS cash with webcam modeling, but we will get into that soon.

I. What is webcam modeling
II. Why you should be a webcam model
III. Requirements
IV. Pay
V. Studios and cam sites
VI. The decision

I. What is webcam modeling
Webcam modeling is basically the online version of video pornography, except for the fact that people are watching what you do LIVE. The typical webcam performer will dress herself up in sexy clothing, put on some pretty makeup, sit down and talk with a few potential customers, then when she is taken into private, she will perform sexual acts for the customer. That's where the term webcam actress comes from. During private chat, the performer will do as the customer reque…

Phone Apps That Can Help You Make Money with top webcam modeling website

Earn Money From Blogging

Remember when phones were a convenient way to talk with friends and family from your home? If you’re not that old, maybe you can recall when you used your cell phone just to talk to people from any place you happened to have service. No? Well, it really doesn’t matter; if you’re like most people (but not all), you use your smart phone for everything from time management, to navigation, to entertainment. Wouldn’t it be nice if you could use it to make a few extra bucks? Here’s a list of apps that can help you do just that.

Field Agent

This popular app utilizes crowdsourcing to gather data for businesses who register as clients. The “agents” use their phones to provide photos, scan barcodes, verify locations, complete surveys, mystery shop, and perform other useful services. Agents generally earn from $3 to $12 per job and funds can be withdrawn from the agent’s account directly to PayPal. Unfortunately, this app appears to be available only for iPhone, iPad and…

How one of the world's biggest investors is navigating this market

Talk about the land of confusion. The VIX is at eight-year lows, despite a slew of geopolitical concerns. Stocks are at record highs. Spanish debt yields less than Treasurys.
How, then, is one of the world's biggest investors navigating this market?
Dan Morris is global investment strategist at TIAA-CREF, the asset management company with $569 billion in assets under management, sat down with Talking Numbers for an exclusive interview.

The Low VIX

"A very low reading on the VIX is kind of reflecting on the relatively benign environment for equities generally," Morris said. "We think it's too low, just if you look at the historical numbers. It's going to go up but not in a way that we see as really threatening at all."

Also Read: What Lies In Your Debt?Credit Repair Magic Tools

"Even if the VIX does go up [and] even if we do get some type of correction," added Morris, "the market has been a bit too smooth. If you look at the lo…