Europe & US contracting

Markit’s Eurozone Composite Purchasing Managers Index (PMI), which measures changes in business activity across the euro zone, showed the euro zone’s private sector economy contracting for the third month in a row in November.

New orders for U.S.-made factory goods declined by 0.4% in October after falling a downwardly revised 0.1% in September.

More China

The HSBC Purchasing Managers’ Index for China’s services sector fell to 52.5 from 54.1 in November, its slowest rate of growth in three months.

Growth in China slows

The growth of China’s non-manufacturing sector slowed sharply in November, as indicated by a plunge in the Purchasing Managers Index (PMI), the China Federation of Logistics and Purchasing (CFLP) said Saturday.

http://news.xinhuanet.com/english2010/china/2011-12/03/c_131285904.htm

Earlier in the week:

China’s factory sector shrank in November for the first time in nearly three years, an official purchasing managers’ index (PMI) showed on Thursday.

Buying more time?

The global central banks move merely bought time for European leaders and doesn’t solve the euro zone’s fundamental debt problems.

The plane is on approach and the fire trucks have been moved into place.  How rough will the landing be?

OECD on world trade

THE latest Economic Outlook from the Paris-based Organisation for Economic Co-operation and Development says that the global economy has deteriorated significantly and warns that international trade growth has weakened.The organisation’s latest forecast sees trade growth for 2012 slowing.

Home Prices, US

Home prices dropped 0.6% in September to rise just 0.1% for the third quarter, according to the S&P/Case-Shiller 20-city composite home price index released Tuesday. The home price slide was 3.6%, year-on-year.