Recent data releases have sharpened the focus on the global economic slowdown and now, writes Anthony Rayner, central banks stand ready with the next round of QE, despite growing belief the benefits are unclear
A weak manufacturing survey in Germany has sharpened the focus of markets towards the extent of the global economic slowdown. The German manufacturing PMI recently fell to 44.7 - the second lowest level since 2009 - versus an expected number of 48. Anything below 50 is considered to be consistent with contraction. Meanwhile, the new orders sub-index - a leading indicator of the leading indicator, so to speak - fell to 40.1, the lowest level since the global financial crisis. Things look bleak for the ‘powerhouse' of Europe, with its manufacturing particularly geared into the global econo...
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