Marc Lichtenfeld: It wasn’t long ago that a person would have been crazy to invest in Europe. The continent’s economies seemed stuck in quicksand. Unemployment was horrendously high. Several nations appeared on the verge of economic collapse.
And there was little reason to believe growth was going to appear any time soon.
But then a funny thing happened. Europe started growing again.
That doesn’t mean Europe’s problems are over or it can’t fall back into a double-dip recession. But it does mean Europe didn’t slide off the globe as some people predicted.
And the newfound growth suggests it could even be a good place to invest.
Take a look at what’s happening in the manufacturing sector in Europe. The Manufacturing PMI (Purchasing Manager’s Index) shows that 14 out of 16 countries (that recently reported PMI) are seeing expansion in their manufacturing activities.
Any number above 50 signifies expansion, while below 50 represents contraction. Only France and Greece had lower manufacturing activity in August.
Many of the European countries are seeing multiyear highs in