MORE CONFIRMATION: The World Economy Is Rolling Over

Joe Weisenthal
Business Insider
July 1, 2011

We said something similar on this day last month, but the latest batch of PMI data is confirming that the world economy is still rolling over.

• Chinese PMI slipped, and is just above 50.
• Italy has gone negative.
• Spanish PMI was already negative, and went further negative.
• German PMI of 54.6 was just below 54.9 expectations.
• UK missed: 51.3 vs. expectations of 52.1.

The capper on the day — ISM for the US — comes out at 10:00. Expectations are for a 51.1, but plenty expect to see a negative reading.

 

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