This was a light week of news.
Markit released their latest services and composite indicators for the EU. While both dropped (the former by .8 to 55, the latter by .7 to 56), each remains at expansionary levels. More importantly, overall production was very strong: France’s number was 57.4; Germany’s was 56; Spain’s was 55.1 (especially impressive considering the country is in the middle of constitutional crisis); Italy’s was 53.9. This was the only news for the EU.