MORE CONFIRMATION: The World Economy Is Rolling Over


Photo: NASA

We said something similar on this day last month, but the latest batch of PMI data is confirming that the world economy is still rolling over.

  • Chinese PMI slipped, and is just above 50.
  • Italy has gone negative.
  • Spanish PMI was already negative, and went further negative.
  • German PMI of 54.6 was just below 54.9 expectations.
  • UK missed: 51.3 vs. expectations of 52.1.

The capper on the day — ISM for the US — comes out at 10:00. Expectations are for a 51.1, but plenty expect to see a negative reading.

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