European industrial production unexpectedly declined in June, suggesting the regionâs economy may struggle to emerge from the recession. Output in the 16-nation euro area dropped 0.6 percent from May, led by a 4.2 percent decline in production of durable consumer goods, the European Unionâs statistics office in Luxembourg said today. Economists had predicted a gain of 0.3 percent, according to the median of 30 forecasts in a Bloomberg News survey. From a year earlier, June output fell 17 percent. http://www.bloomberg.com/apps/news?pid=20601068&sid=abT_jH6GZX_g Unexpectedly...
Indeed....shocking It will be another shock when those Russian banks start falling like a house of cards.
Some analysts say over-capacity is so rampant that it will stymie government efforts to unfreeze credit markets. Banks have little reason to lend not only because they still have bad debt on their books but also because businesses don't have a pressing need to expand...
This a taken from the 2Q report filed 8/7/09. A company I've done some contract work for so I know it to be true. âFurmaniteâs results continue to be adversely affected by the economic conditions worldwide and by negative currency fluctuations,â said Michael L. Rose, chairman and chief executive officer of Furmanite Corporation. âIn the U.S., we have not yet seen a return in discretionary capital project activity, but the most substantive effect on our second quarter results, when compared to last year, was the dramatic slowdown in the U.K. and in parts of Europe where the impact of the recession is now being felt.