Europe In Panic Mode Over Economy As USA Soars
The results out of Western Europe are not inspiring.
With the US registering solid growth for the 3rd quarter, the EU is barely moving. Italy had no growth at all. France put up a .4% H1, below the expects .5%. Germany, the engine that drives the Union, does not report until mid-November but all indications are it will also be flat.
This is a problem since the ECB is out of bullets. There is little it can do to try and stimulate the economy. One of the biggest factors is the drop in Chinese orders. A year ago it grew at 20%, now just 3%.
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