| Topic: | Re:Re:Ryanair... | |
| Posted by: | Matteo Castagna | |
| Date/Time: | 25/07/16 09:43:00 |
| It's really funny to read all those posts from people clearly in denial. These are the hard facts (like them or not): July flash composite PMI collapsed even further than expected. It fell the most on record, reaching 47.7 (1.3pts lower than consensus), which is said to be consistent with 1.5-2% annualised contraction. Services business expectations fell an enormous 10.4pts. Believe me: 1.5/2.0 annualized contraction means blood on the wall. And this is only the beginning. But I know the push back (aligned to the denial phase): "let's wait for more data". |