One of the reporting facilities on the economy of various European countries is MARKIT. According to these reports a reading of 50 is neutral, readings above 50 denote expansion and readings below show contraction.
Germany and Italy have hit 55, while Spain and Ireland scored 58.8 and 59.7 respectively. The Eurozone has registered a growth of 0.5%, even though the French MARKIT number came in at 50.2.
Fears of a Grexit had receded at least for now. Opinion polls ahead of the Greek election show the Conservatives gaining although a defeat of Syriza is not yet forecast.
England is slowing but it still shows a number of 55. Have the Europeans solved their economic Crisis? Hard to tell at this point. Larry's cycles predict doom and gloom and a fiscal meltdown starting Oct 7. I don't see it unless European figures are doctored.
Friday, September 4, 2015
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