A slew of ugly data came out Thursday morning.
The German economy shrank 0.2%. And the eurozone as a whole didn’t grow at all.
But there’s more than just bad growth going on. Inflation numbers are going in the wrong direction, and there’s a growing risk of deflation.
Here’s the chart of eurozone inflation, via Claus Vistesen of Pantheon Macro.
The ECB has tried multiple things to turn this around and prevent deflation. It has lowered rates. It has instituted special lending programs and more. And still, nothing is going in the right direction.
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