Aggregator • MaxedOutMama • ID=73985
You know, when the hero with superpowers meets the villains and there are a few panels of "Bish, boom, bang" as his iron fists encounter the apparently explosive glass jaws of the bad guys? That part?
Eurostat released EU and EU27 Q2 GDP today. Sad, at 0.2 (quarterly, non-annualized). This is "unexpected", and stuff is selling off as I write. Here's the release. If you scroll down you can see the individual countries. Note France at 0.0 in Q2 and Germany at 0.1. There are those that believe that the drop off in industrial production might have something to do with the German collapse.
Sigh. The last round of PMIs were not exactly positive for Q3 outlook, so the great expectations are, shall we say, fading.
Let's review the bidding: We are waiting for China. Japan is negative still due to the quake/tsunami disaster, but that is waning. Hong Kong reported a slight drop (-0.5) in Q2 GDP. Singapore reported a contraction in Q2 of 6.5%. Australia was negative in the first quarter; no word on Q2 yet, but if you go to this table and scroll down to the production monthly figures, their trend appears somewhat negative.
This makes the US advance look decent, but we aren't staying at this level! So there is a global problem.
As for Japan, that deserves a post of its own.