Europe's Triple-Dip Recession Arrives: German Industrial Production Crashes Most Since February 2009

Zero Hedge ^ | 10-6-2014 | Tyler Durden

[blam]

Tyler Durden
10/07/2014

Yesterday it was German manufacturing orders which cratered 5.7% in August following a freak, 4.9% rebound in July, prompting Goldman to warn that "the underlying dynamic has weakened further at the end of Q3" ...

... And then a few hours ago we finally got undeniable confirmation that Europe is once again in recession, its third since Lehman, only this one is worse: it is led by the "core" countries, with Germany in the forefront, a Germany which just reported industrial output which suffered its biggest monthly decline in more than five years in August. Specifically, German IP tumbled 4%, led by capital goods which crashed 8.8%; consumer goods sliding 0.4%, and basic goods dropping 1.9%, with the headline plunge far below the consensus of -1.5%, and below even the worst forecast of -3.0%, the biggest drop since February 2009, a result which according to the FT rose "fears that Europe’s biggest economy might be heading for recession and prompting renewed concern about the economic health of the eurozone."

Oh, don't be afraid: the world's largest economic block is now without doubt in a triple-dip recession, which will in turn drag both the US and China down with it.

(snip)

[wiseprince]

well, they are in an economic war so I guess this isn’t surprising. I guess this rightly coincides with the weakened ruble and yuan. Oh well, the “leaders” of the world don’t want the people to interact (sanctions) and that causes less innovation and less trade. Nothing to see here

[Patton@Bastogne]

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These are dark days indeed ...

If I were from another planet, observing Earth's geopolitical scene, my main observation would be:


The Christian West is slowly being destroyed (economically) as the wave of Islamic Jihad rises across the globe.

In ten (10) years Europe's military will be crushed between Putin's Russia and the new Islamic Caliphate.

At the same time, America's continuing decline will be at it's apex, following the quick victory Communist China achieved in taking Taiwan and South Korea.



This New Year's please tell your children and grandchildren to prepare for the new global "Dark Age" ...


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[blam]

"This New Year's please tell your children and grandchildren to prepare for the new global "Dark Age" ... "

This Guy thinks in/by December.

Watch this!

[Gay State Conservative]

The Euro is looking like a worse and worse idea with each passing month.