Global Slowdown 'Becoming A Genuine Possibility,' As Europe, China Decelerate Further -- NBC
LONDON - The euro zone's economic woes accelerated last month and China's slowdown looked likely to extend to a seventh quarter, surveys on Wednesday showed, while the United States proved the bright spot with better-than-expected news on services and jobs.
Purchasing managers indexes (PMIs) suggested the aggressive actions taken by the world's central banks over the last two months have yet to convince consumers to start spending again.
The chances of the euro zone in particularly seeing growth again before next year has dwindled.
Falling new orders and more layoffs marked a worsening decline for euro zone companies, the PMIs showed, while growth of China's normally robust services weakened to an almost two-year low last month.
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My Comment: As I have said on many occasions .... too much debt and too much spending coupled with no political will to correct the situation has helped to destroy a number of European economies (Greece, Spain, Italy, etc.). In Asia we see other bubbles starting to burst, and in the U.S. .... here comes the huge tax increases and sequestration in 2013. Yup .... the global slowdown is coming .... but fear not .... the IMF's chief economist assures us that the global economy will start to recover in 2018!!!!!
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