Photo: Piazza Del Popolo on flickr
Germany’s China-style currency peg to Europe, via the euro, plus its highly competitive economy, just keeps delivering relative performance.While Markit has reported that the overall Eurozone manufacturing expansion slowed in June, Germany maintained its strong level of expansion from May, and leads the pack.
Meanwhile, Greek manufacturing contracted at the fastest pace in 14 months.
That’s quite some contrast and is exactly what’s annoying much of Europe about Germany.
See the reports via Markit.