The Eurozone PMI composite output data presented by Markit slowed to a two-month low of 56.1. Manufacturing PMI dropped to a six-month trough of 55.

The report said that the prospects of the region are based largely on France and Germany–a self-evident statement given their relative GDP size compared to the rest of the region.

With many smaller nations like Spain and Greece in deep recession. a double-dip is only a month or two away if Germany or France falter.

Douglas A. McIntyre