Friday, June 25, 2010

Economics 25/06/2010: eurozone leading indicators down

Eurocoin, CEPR-Bank of Italy leading economic indicator of economic activity in the Eurozone is down for the fourth month in a row, signaling continued pressure on economic growth:
As the result, I am revising my forecast for Eurozone growth for Q2 2010 to between 0.2% and 0% with the risk to the downside from that.

Negative weights coming from declining industrial production activity and composite PMIs, falling consumer sentiment in Germany, France, Italy and Spain, and equity markets declines. Robust growth in exports provides sole positive support.
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