Toll Index in May 2012

The Toll Index continues on a negative year on year trend in May for a straight third time in a row. The average of the four Toll Index components lost 5.9% compared to May 2011 after losing 1.9% in March and 3.5% in April. It looks like the German economy continues to slow down due in all likelihood to continent-wide austerity and generalized uncertainty about the euro zone crisis.

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