Europe continues to slow

I mentioned the close correlation between Austria's economy and the economy of the whole of Europe before.  The latest PMI survey data for September show another fall for Austria after the "flash" (preliminary) estimate for Europe also fell.  Though both surveys are still above 50%, i.e., are still growing, the gap between them and 50% has narrowed, showing the growth is lower.

In 2012, when the European economy experienced a "double-dip" recession as a result of the debt crisis, these indices fell below zero.  The ECB (European Central Bank) and the European government don't seem to  be managing this very well, frankly.  Growth for the last 6 years has for the most part been sluggish.  If the current cycle is to end soon, that is not good news.