by Cato 8/6/14
Let’s see. Manufacturing falls off the table while a real estate bubble inflates. Both in Europe, yes … but where, oh where, have we seen this combination before. Let. Me. Think.
German factory orders plummeted. Contracts fell by 3.2% in June from the previous month, the biggest fall since September 2011, due to low euro zone demand and persistent geopolitical risks.
The UK property market took off again. House prices rose 10.2% in the three months to July, according to data from British mortgage lender Halifax—the fastest annual rise since the financial crisis.
Cato blogs at Cato’s Domain.
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