The German and French PMI seem to be down for last four or five months, co-inciding with drop in Chinese factory production figures, recording a slight slowdown in both regions.
The positive news is that the ECB's Mario Draghi says confidence is returning to Europe, and since he has been in charge, the deposits and borrowings from the ECB give a sure indication that the wherewithal is there for a renewed Recovery. The US open window funds are there I guess.
The leading indicators from the U.S. are a better than expected 0.7 percent up - this would suggest a further strenghtening in the U.S. economy which will show up in the real economy in approximately 7-8 months time.
The only drag on all the economies is the price of Oil. If airlines are struggling to pay for their fuel, and truckers are hardly making few cents on the dollar, than it is time for a policy by the OPEC countries to ensure the price is such that the worldwide economic Recovery may continue. It is in their gift, and the world has to gratefully count on it.
May a negotiated Peace remove the unnecessary burden of the 'war premium' on the price of Oil, the sooner the better, so that the Recovery is not dislocated further.
For that I pray.