Good News in Europe, or a Head Fake?

Recently, Europe reported some upbeat economic numbers, prompting many analysts to take a more optimistic stance on the region.

Specifically, the region’s composite PMI was revised to a 35-month high, signaling what officially might be later declared as an end to the Eurozone’s six-quarter long recession since the PMI tends to serve as a good predictor of GDP growth. The July Composite PMI for Europe was revised to 50.5% from a previous 50.4% reading.