Europe’s recession has either come to an end, or it’s about to.
It’s clear from the data, that across key economies, a weak recovery is in place.
This morning we got French manufacturing output hitting its highest level in over 2 years.
The Flash PMI report out of Germany — Europe’s Engine — was much stronger than expected, and its manufacturing numbers downright exploded higher.
These datapoints follow yesterday’s Spanish GDP report, which indicated that in Q2 the economy shrunk by less than expected.
French industrial confidence is also on the rise.
Outside of the Eurozone, a recovery in the UK appears to be taking hold as well.
None of this will quickly alleviate the massively painful situation, especially the unemployment crisis.
And there are political problems in Spain and Portugal, and there’s even fresh issues arising in Greece. The overall Eurozone problem isn’t over. But this particular economic phase is coming to an end.
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