It’s official: fourth quarter data have confirmed that Europe’s economy is headed south faster than expected. Both the GDP and industrial statistics paint a picture of a sharp downturn that has already turned into double-dip recessions in about half a dozen countries.
China is the world’s factory when it comes to counterfeit products: two-thirds of fake products seized last year by U.S. Customs originated in China. But Chinese consumers are growing increasingly wary of buying fakes for themselves.
The Federal Reserve reports that industrial production was unchanged in February 2012. There are, however, a lot of good news in the new report. Manufacturing production increased 0.3 percent in February. A 1.2 percent decline in mining activity and flat utility production hid a moderate gain