from Minyanville:
.....(snip).....
Global Recession Supporting Data-Points * Euro zone’s manufacturing purchasing managers’ index fell to a two-year low of 49.0 in August, down from a preliminary reading of 49.7. (Business Insider)
* PMI’s contractions seen in Ireland, France, Italy, Spain and Greece. (Business Insider)
* Germany’s manufacturing PMI slowed to its lowest level since September 2009, slumping to 50.9, well below an initial estimate of 52.0. (Business Insider)
* US Manufacturing ISM ex-inventory Growth is in contraction (Mish)
* Japan's PMI fell at three-month low (Financial Times)
* PMI readings in Switzerland and Sweden dropped (Financial Times)
* British manufacturing PMI fells 49, hitting a 26-month low (MarketWatch)
* Germany private consumption fell for first time since Q4 2009; Manufacturing growth slowest in 23 months (Reuters)
* Japan capital spending plummeted 7.8%; In Q2, expectations were for 1% increase (RTT)
* US construction declines 3.5% vs. same period in 2010 (US Census Bureau)
* China exports to US contract, PMI is barely above contraction (Reuters)
* Container traffic at Port of Long Beach drops 3.17%, smack in face of normal Christmas season ramp-up (Bloomberg)
* Canada GDP unexpectedly declines, led by a 2.1% drop in exports (Bloomberg)
* Brazil unexpectedly cuts interest rates .5% to combat recession; 62 of 62 analysts miss call on rate cut (Mish)
* Taiwan's PMI dropped to 45.2 in August, the lowest reading since January 2009 (Reuters)
* German economy grew just 0.1 percent in the second quarter (Reuters)
* Switzerland economy grew at its slowest pace since 2009, as a record strong Swiss franc bites into exports. (Reuters)
* Retail giant in Australia warns of massive price deflation and falling sales, "Hardest Christmas in Retailer Lives" coming up (Mish)
* US see zero jobs growth, unemployment rate remains flat at 9.1% (Mish) ..............(more)
The complete piece is at:
http://www.minyanville.com/businessmarkets/articles/global-economy-global-recession-economic-analysis/9/2/2011/id/36708