Something Really Bad Happened To The European Economy In April

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Joe Weisenthal
Business Insider
May 2, 2012

Now that we have a chance to breathe, and look back over the last batch of PMI numbers for Europe, it becomes clear that April was just an extraordinarily bad month for economic activity.

Let’s go over some of the countries, and you’ll see what we’re talking about.

In Italy, the PMI chart looks like this, which couldn’t be uglier.

Something Really Bad Happened To The European Economy In April   chart

Meanwhile, Italian job losses were the most severe in 27 months, and new orders fell at the worst pace in 3 years.

Or even take Germany, which is the strongest economy by far: Output saw its first drop since December, the headline number hit a 33-month low, and employment was down for the first time since March 2010.

Here’s the chart of the headline number for Germany…

  • A d v e r t i s e m e n t

Something Really Bad Happened To The European Economy In April   chart

Spanish PMI: Same story. The economy saw its fastest deceleration since the summer of 2009.

The bottom line is: We knew basically all of Europe was seeing recession like conditions. April was exceptionally poor.

Finally, let’s not forget France. The reduction in new orders for the month was the worst in 3 years, and the headline figure remains near a 33-month low.

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3 Responses to “Something Really Bad Happened To The European Economy In April”

  1. Looks like another sucky time for them.

    When the U.S. is under Goldman Saks Obama or Romney (pick your poison), we will be joining them in bankrupt slavery with lousy jobs, lousy pay, lousy benefits, ever higher taxes, foreclosures and bankruptcies, and high crime.

    “Change We Need?” oh I agree. We need Ron Paul who will apply the Constitution, bring the troops home, and stop the bleeding both literally and financially.

    RON PAUL 2012

    Master Reply:
    May 2nd, 2012 at 6:53 am

    2nd that Ron paul, gold standard common sense …

  2. herman van rompuy, is the really bad thing in the european economy …

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