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
The deeper pessimism recorded by the surveys largely offset the positive contribution arising from recent developments in manufacturing.
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