The German PMI Manufacturing Collapse

Looking over all of the global PMI data that has come out overnight, it’s pretty clear what the big story is: Germany.

The reading came in at a deeply ugly reading of 43.0, worse than analyst expectations of 43.3

It was always inevitable that the German manufacturing powerhouse would succumb to the collapse of its customer base, but now it’s really happening full throttle.

Look at that blue line.

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Photo: Markit

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