Research Edge Position: Short UK (EWU)
We’ll let the data from the manufacturing and services Purchase Managers’ Index of the Eurozone, Germany and France speak for itself (see chart below). Suffice it to say we’ve been calling for a sequential slowing in fundamentals across the continent, which we expect to continue into 2010; November’s PMI reading, while improving across the region and for the region’s largest economies, Germany and France, is showing signs of slowing.
Matthew Hedrick
Analyst
