A Little Glimpse Of What Austerity Looks Like

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Photo: Wikipedia

UK PMI just came out.The manufacturing economy showed a surprise contraction to 49.1 vs. expectations of 51.0.

As FT Alphaville notes, the new orders number was the weakest since May, 2009.

Of course, this is consistent with months of weak UK economic data, thought to be associated with the government’s efforts to cut the debt.

That’s just like what’s happening in the US!

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