European Industrial New Orders falls most in 7 years

European industrial new orders fell to -6.4%...the lowest reading since January 2005, as shown on the graph below (graph provided by www.forexfactory.com). This is not a healthy sign, which confirms what I said in my last post.

Additionally, the data released today for European flash manufacturing PMI shows a further decline to 46.4, as shown on the graph below...back down at levels last seen in mid-2009. This data ties in with my post of November 10th: http://strawberryblondesmarketsummary.blogspot.com/2011/11/weak-french-italian-industrial.html