Finally. After a series of blunders by European policy-makers, Europe finally starts to recover. Industrial production (IP) is now positive year on year. And the rising PMI suggest that this will continue.
Mind you, the level of output is still a loooong way below its previous peak.
Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. While I do make mistakes, I try hard to do my analysis thoroughly, and to make sure my data are correct (old habits die hard!) Also, don't ask me why I called it "Volewica". It's too late, now.
BTW, clicking on most charts will produce the original-sized, i.e., bigger version.