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Recession looms large for Germany after PMI data - Markit

Thursday, August 23, 2012 - 03:20

Aug. 23 - There is every possibility Germany is heading for a recession by year-end if the weak demand picture continues, says Markit senior economist Rob Dobson.

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Johnny's -- PMI numbers just outside and services come and worse than expected. Six to 48 point three. But -- the full cost no -- the key fifty point mark the divides expansion from contraction in manufacturing also contracting. -- comes at a 45 point one that is best of them last month's 43. And ahead of expectations joining me is rob -- senior economist I had to -- dates provide a market. It's -- heading into recession. There's every possibility it held both -- state and expansion -- GDP figures the key to. Would like to see Jamie contracting -- city that puts it this get to mount was an infinite fully into recession post it and -- and how that's going to be. Well I think Jimmy's not contiguous countries which is exception -- books is a very open instructional -- period exports. Close since these numbers month touching very weak export this number and -- global economic conditions continued to -- it continues to slide. But that Germany to your -- -- so this is. Pretty much wiped -- petty. Gains if you like Humana fact charm out of factions still looks pretty bad but it's improved. I want -- to services most serious is what was who is. Last month a little bit of an expansion foresees having you down to insist this again this is pervasive it's not weak demand picture what we're seeing is. Oldest new business coast with money -- answers this slowing down fool and an associate heading -- an -- had planned level. This theme here which is not surprising I matters this big drop in export numbers and we sort in Germany. Today we seated in China today was sort in Japan yesterday them. And that's the case what we're seeing very much has. And even you were talking to him which by the eurozone goes -- -- not still ongoing but now what kind of secondary effect which is. We're seeing global economic conditions pulling in tandem with this. And this has been -- it's not China numbers say. Inclusion not trying to export -- sentence that was in the the -- which is a weak export winless since what is not turn on MarketWatch in nine yes. And this is basically station that what was seen -- global economy is. Demands slow link but that doesn't -- -- them conceded they had planned out of them this continues to -- it week one. Get a quick word on employment resources or some mutual reverend Jerry in Germany I mean it -- for a while things what we're getting to us but actually they seem to be holding that above water. Well Jim -- market's been you have continuously. If not stronger at least holding his ground stuff to. And bassist Peter Cook for him when the -- -- thoughtful -- Jim labor market how to can be seen this month scams visit -- creation engine it. And again this just reflects what -- to ten years ago. Wanted to listen to all these reforms and of the eurozone countries went maybe -- some benefit -- -- -- during the compete. So just to recap recession by the end of the -- -- does that the possibility and it's okay Brockman thanks for joining several Dawson aftermarket. That's it for me I'm -- truffles this is --

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Recession looms large for Germany after PMI data - Markit

Thursday, August 23, 2012 - 03:20