European Service Prices Plunge at Steepest Rate Since January 2010; Reflections on Keynesian Stupidity

Jon Blogosphere, Economy

The Markit Flash Eurozone PMI shows the steepest fall in output prices since global crisis and renewed job losses, in spite of an otherwise stable PMI.
The Eurozone saw a marginal upturn in growth of business activity in October, according to the flash PMI results. The headline Markit PMI rose from September’s ten-month low of 52.0 to 52.2, signalling the first upturn in the pace of expansion for three months. However, the index remained below the average seen in the third quarter, and was the second-weakest reading seen so far this year.

This post was published at Global Economic Analysis on Thursday, October 23, 2014.