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The bond market rallied on the weak data.
However, the fluorescent signals were relatively weak (data not shown).
More weak data from the eurozone will make investors nervy.
There was also weak data on industrial production.
Years later, Portenoy admitted his sweeping conclusions were based on "weak, weak, weak data".
A downgrade might also have implications for Europe, which has recently released weak data on economic growth.
The weak data has weighed on investor sentiment, with markets down on both sides of the Atlantic.
With the weak data that have been coming out, however, worries about the market have been growing.
One reason is that China, the biggest importer, has produced a string of weak data.
Economists said the weak data could simply reflect a pause after two years of brisk expansion.
Hurt by weak data from purchasing managers, the euro shed 0.9% against the American dollar.
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