Anthony Rayner: Slowing economy poses big questions for policymakers

A weak manufacturing survey in Germany has sharpened the focus of markets towards the extent of the global economic slowdown. The German manufacturing PMI recently fell to 44.7 - the second lowest level since 2009 - versus an expected number of 48. Anything below 50 is considered to be consistent with contraction. Meanwhile, the new orders sub-index - a leading indicator of the leading indicator, so to speak - fell to 40.1, the lowest level since the global financial crisis. Things look bleak for the ‘powerhouse' of Europe, with its manufacturing particularly geared into the global econo...