Europe Flash PMI Better, Not Fabulous
December 16, 2014
By Uncategorized in
While today’s better than expected rise in the flash PMI indicator (black line) for the euro zone is a welcome surprise, it would seem that it will take quite a bit more improvement before we can reasonably expect substantial progress in the recovery of important metrics such as GDP or industrial production:
![image](http://blog.gavekalcapital.com/wp-content/uploads/2014/12/b2568eb7716247bf84f8fc916fc44a78.png)
![image](http://blog.gavekalcapital.com/wp-content/uploads/2014/12/81092650056743a893d2fd2c7119eb37.png)
By country, France continues to lag behind Germany:
![image](http://blog.gavekalcapital.com/wp-content/uploads/2014/12/f3c91f2f483347d09dec94d0bfe493cf.png)