Key gauges of Germany manufacturing slumped in September, falling to a 15-month low as ongoing tensions over Ukraine weighed on the sector. Markit’s purchasing managers’ index (PMI) for the sector dropped to 50.3, from 51.4 a month earlier. The reading is barely above 50, implying that the sector is expanding, but slowly.
No analyst polled by Reuters expected a number this bad.
The most pessimistic expert forecast that the PMI figure would fall to 51, while the average analyst believed Germany’s PMI would drop to 51.2. Germany’s factories are particularly exposed to any conflict between Russia and its neighbours, as well as the tit-for-tat sanctions exchanged between Russia and the EU. Yes, it is difficult to imagine more stupid and counter-productive foreign policies than those pursued by the brain-dead European ruling class. Europe and Russia are natural allies, both geographically and in terms of commercial and energy interests. We must vote a new generation of leaders into office all across Europe, one which is not stuck in cold war thinking and glued to American energy policies and global militarism....The terrible thing about the huge losses being incurred by EU countries in the tit-for-tat sanctions by Russia is the feeling that the EU simply didn't think Russia would respond! Instead Poland, Greece and others have lost a large market for their agricultural products. France seems determined to destroy any future military (and no doubt civilian) technology sales to Russia. In the meantime Russia is seeking and finding alternative sources. So the Russian market is waving goodbye to the EU. (Interestingly, that good NATO member Turkey is one of the new sources.)...Meanwhile, just to ramp things up even more, the US is to sell cruise missiles to Poland which are capable of hitting targets in Russia.
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