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:
https://twitter.com/HedgeyeEurope/status/704639484621672449
The warning signs are all there. The PMI pullback looks even more drastic when looking at the rate of change.
https://twitter.com/HedgeyeDDale/status/704646341855727616
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.
https://twitter.com/HedgeyeEurope/status/704646792110014464
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