A combination of fiscal tightening; a (bizarre!) rise in the ECB's discount rate; and ongoing excessive debt have pushed Europe into recession. I expect it it to be deep.
Euro currency area, France & Germany:
Spain, Italy, UK (not part of the Euro currency area):
ECB: epic fail. Epic.
[N.B. data for the latest month are in some cases projections. My experience over many years suggests my estimations are good except, occasionally at turning points. ( Isn't that always the case?) So when actual data come out over the next week or two, I could be proved to have been too pessimistic. On verra. I'll keep you posted.]
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