Like the ISM’s manufacturing purchasing managers index (PMI), similar indexes compiled by Markit encapsulate key economic trends in Europe. PMI readings for the EU and its largest economies in October continued to hover near 45, a level which suggests that the Continent remains mired in a full-blown recession.
However, the latest PMI releases did include a silver lining: Not only does the underlying data appear to have bottomed, but the October reading represented a slight uptick, albeit from depressed levels.
With recent economic data points surprising to the upside, we wouldn’t be surprised if this upward momentum were to continue into 2013; the current consensus estimate calls for EU gross domestic product to expand in the third quarter of next year, the first time the economy has grown since the fourth quarter of 2011.
The outlook in Europe also received a boost from declining yields on sovereign debt issued by Italy and Spain, two fiscally weak nations that the market has punished for their governments’ profligacy.
Your complete guide to energy investing, from growth stocks to high-yielders.
In October 2012, renowned energy expert Elliott Gue launched the Energy & Income Advisor, a twice-monthly investment advisory that's dedicated to unearthing the most profitable opportunities in the sector, from growth stocks to high-yielding utilities, royalty trusts and master limited partnerships.
Elliott and Roger on Sep. 26, 2017
Balanced portfolios of energy stocks for aggressive and conservative investors.
Our take on more than 50 energy-related equities, from upstream to downstream and everything in between.
Our assessment of every energy-related master limited partnership.
Roger Conrad’s coverage of more than 70 dividend-paying energy names.