Euro econ slides again in July

The first real (as opposed to prelim/"flash") PMI we get for Europe is for Austria.  It correlates very well with the pan-Europe PMI, which is what you'd expect given the entrepôt nature of Vienna/Austria's economy.  It's pretty clear that Europe is still slowing.  There were some signs of a dead cat bounce in Europe a couple of months ago, but that's fizzled.  Both PMIs are well below the recession line, i.e., where more than half respondents say that their sales/production/employment/new orders are below last month's.