Things are overall still a mess in Europe, but the latest numbers it make it clear: Europe is coming back.
PMI readings (which gauge the health of various countries manufacturing sectors) showed virtually universal improvement across Europe in June. The one exception, perfectly enough, was Germany, which saw a slight contraction.
The tables below tell the story, but by and large the severe bleeding of the 2nd recession has been stopped.
Europe is no longer the world’s “sick man” to use a cliche, as attention now turns to the weak numbers out of Asia, and China in particular.
From Markit, here are the numbers that tell the first chapter in what hopefully becomes a positive story.
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