CONFIRMED: The Economic Crisis Has Infected Europe's Core

There is no place to hide out in Europe anymore.

This morning, German Flash PMI for April confirmed that it too is going into contraction, as the headline number fell below 50, falling to the worst level in 6 months.

Here’s the key summary, but the obvious thing here is that every indicator has fallen below 50, signifying contraction. Manufacturing outpout at 47.9 is particularly gruesome.

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