The world economy has been demonstrating inactivity amid the industrial production shrinkage in Europe and lower output in China. In its turn, it puts impact on the US economy which is hardly able to be a driving force for global development.
The manufacturing PMI index in 17 Eurozone countries leveled down to a 3-year low of 45.1 points in May, the downtrend has been seen for 10 months already.
In addition, the unemployment rate has touched 11%, the highest point since the records began in 1995. The leader is Spain - here the jobless rate fixed a 24.3% value in April.
At the same time, the manufacturing PMI of China eased pace to 50.4 from 53.3, that has become the weakest performance since December 2011.
There are more and more signs denoting to the global economy slack period due to the European debt challenge, lasting for two years already. It exposes Spain to a great risk of collapse and may go further out of the currency block by retarding the demand and investors confidence around the globe.