It's The Same Old Depressing Story In Europe Today

On Monday we got manufacturing PMI reports from Europe.

Today we get the same reports, but for the services industry. So how are things going? The below chart and table tell a classic story. There’s modest growth overall, but look where it is. Germany is kicking arse. Everyone else is doing horribly, especially France, whose industries are hitting multi-month lows.

Classic old story. Germany rules. Everyone else does not.

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