While the US economy has managed to keep its head above water, Europe's economy appears to be starting to struggle.
Bloomberg reports the latest industrial production figures from Germany.
German industrial production fell the most in more than 9 years in May, further evidence that Europe's largest economy is losing momentum.
Output, adjusted for seasonal swings and inflation, dropped 2.4 percent from April, when it declined 0.2 percent, the Economy Ministry in Berlin said today. That's the most since February 1999. Economists expected a gain of 0.3 percent, according to the median of 42 forecasts in a Bloomberg News survey. In the year, output fell 1.5 percent.
And Reuters reports the industrial production production figures from the UK.
Industrial output fell at its sharpest pace in 2-1/2 years in May, official data showed on Monday, raising fears that economic growth is freezing up...
The Office for National Statistics said industrial production fell 0.8 percent on the month, well beyond analysts' expectations of a 0.1 percent decline. This left output 1.6 percent lower on the year, the biggest drop since December 2005.