BBC: European business activity falls to near three-year low
Economists say business confidence in Europe has been hit by worries over Greece
Activity at European businesses hit a near three-year low in May, according to a survey by Markit. Its index, based on a survey of purchasing managers in the manufacturing and service sector, fell to 45.9 in May, a 35-month low. In response, the euro fell to $1.2515 against the dollar, a 22-month low.
... Thursday's economic reports show that concerns over Greece are having a broader economic impact, according to economists.
Markit's chief economist, Chris Williamson, said his firm's research indicated that the European downturn "gathered further momentum in May".
"The survey is broadly consistent with gross domestic product falling by at least 0.5% across the region in the second quarter, as an increasingly steep downturn in the periphery infects both France and Germany," he said in the report.
Activity at French and German factories fell to the lowest level in almost three years, according to the Markit survey.IT'S GETTING WORSE.
IT WILL CONTINUE TO REDUCE DEMAND FOR CHINA'S GOODS - AND PUT CHINA IN A TAILSPIN, AND PERHAPS BRING THEIR POTEMKIN ECONOMY CRASHING DOWN, TOO.
THERE IS ONE WAY TO STIMULATE GLOBAL GROWTH WITHOUT INCREASING SOVEREIGN DEBT:
ALL WESTERN NATIONS HAVE TO CUT REGULATIONS - ESPECIALLY CO2PHOBIC TAXES AND REGULATIONS WHICH HAVE RAISED THE COST OF OIL AND COAL ALL ENERGY.
THE COSTS OF GOODS AND SERVICES WILL DECLINE, AND PROFITS AND CONSUMPTION WILL INCREASE.
AND SO WILL OPTIMISM.
THE ONLY THING BETWEEN OUR PRESENT DECLINE AND FUTURE GROWTH IS CLIMATE ALARMISM.