Low German PMI is a Concern: Economist

4:00 AM ET Mon, 2 July 2012

"You have to be a bit careful about sentiment indicators when there are a lot of negative headlines going around, as they can get a bit detached from the underlying economy, Europe we think is headed for a moderate recession but probably not quite as bad as the PMIs are suggesting," Richard Jerram, chief economist at the Bank of Singapore, told CNBC.