Q: Is European growth stalling?
A: It's getting hard to argue to the contrary.
So far this February, 13 of 17 European PMI readings are contracting:
The warning signs are all there. The PMI pullback looks even more drastic when looking at the rate of change.
So ... what does that mean heading into the March 10th ECB meeting? We'll let you be the judge. Here's a Bloomberg chart showing the doves versus the hawks:
Click to enlarge.
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