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Euro-Coin Index: Still Recession in Europe

The October reading from the Euro-Coin index, a private expansion/contraction model developed by CEPR, is still pointing towards contraction across Europe.  The latest reading of -0.29 is slightly improved from the September reading of -0.32, but still contracting.  The recent readings are the worst since 2009 and consistent with the view that Europe remains mired in a deep economic hole.  CEPR has a bit more:

€-coin continues to stagnate in October at a negative level

  •  In October €-coin was at -0.29 % (-0.32% in September).
  •   The deeper pessimism recorded by the surveys largely offset the positive contribution arising from recent developments in manufacturing.

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