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CHART OF THE DAY: The German Economic Miracle Ends
Joe Weisenthal
June 22, 2012
This has been our theme of the last couple days: The German economy is finally starting to buckle due to the euro crisis and the economic weakness of the countries that used to buy up all the German goods.
This chart is from today's Ifo Business Climate Index survey, and it shows that the expectations for business (the orange line) and the business climate (red line) are collapsing in the eyes of German businesses.
Couple this with yesterday's bad Flash PMI reading, and it's clear that Germany's ability to thrive while the rest of its neighbors suffer is coming to an end.
