Markets Are Down In Europe


Photo: Flickr – enor

Markets are lower early in the European trading session. The Euro Stoxx 60 is down 0.3%.But the regional indices are mixed.

England’s FTSE 100 is up 0.2%.

France’s CAC 40 is up 0.1%.

Germany’s DAX is up 0.1%.

Spain’s IBEX is down 1.9%.

Italy’s FTSE MIB is down 0.6%.

Markets took a hit after a series of disappointing economic data was released.

The Flash Eurozone PMI index fell to 46.4 in July, the sixth straight month of declines.  The manufacturing component was particularly ugly, falling to a 37-month low of 44.1.

A reading below 50 signals contraction.

Germany, Europe’s largest economy, said its PMI number slipped to 47.3, also a sixth straight month of declines.  The manufacturing component of Germany’s PMI fell to 43.3.

All of these sub-50 numbers intensify worries of recession in the Eurozone.

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