UK and Europe PMIs plunge

 Another set of "flash" PMIs for October.  And they plunged.

This is before the winter fuel crunch, before the full impact of plunging real incomes because of surging inflation, before the impact of rising interest rates.  And in the UK, before the dreadful impact of a demented budget on mortgage rates, the Pound, inflation, confidence.  Last gasp of the unhinged neoliberal cult, the quite dotty belief in "trickle down"?  Let's hope so.  

Will this break Europe's resolve to maintain sanctions on Russia?  Oil and gas prices are already falling, so the actual European and impending global recessions are going to do just as much damage to Russia.   My guess is that the Russian economy is about to fall much faster than Europe's, the UK's or the rest of the world's.  Patience, mes vieux!  Expect insincere Russian "peace" overtures soon.