New Eurocoin is out and signaling improvement of the Euro area economy, albeit at a slowing rate. Inputs first:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKQ8PUSq0c26YkmA_QD0OgZQ1XIY1uvwF1BDnqLxTOEtlV5ZZyvkjo_DhgSfOIURuYbBUJhLruOlJTB4wWTFfXS0V7ZlR0v-bNzKUtiqNQGJq-qSdaDIEjeJ53_8HoD5UshfLe7mLbx4M6/s280/Picture+2.png)
Industrial production is tapering off through November - despite some seasonal pressure to rebuild stocks pre-sales season. Ditto for PMIs:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgcvOFss1ea0YEum27c8xSUjEvMLwVPXua2a83sNnTLjUlB59lMbKa8x0oChwATNfgq0uc-rEjl7-hV50Nu2MgSx5lNpATn0_LfZNckA2lsyWbVC45fa61KYvEfBY_PEFn1meeUT3O4bgQ2/s280/Picture+3.png)
France and Spain continue to worry in the above due to clearly weakening domestic demand, while Italy and Germany are showing signs of advanced orders falling slightly off - future exports might be challenged.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLcGTISPYha4cZyv3NtZhc4fUcQ6CBSeYaeObFFFE5OX_4L_eeFEbmo6s2L01XbgxsEEzt2p_wf66N_tFs74_KQsvJ2hAxyd6Y7zoCyUZSwlE6iXysSTEXukwjvJyaRYSqfwuRAO1gxZkj/s280/Picture+6.png)
Consumer weaknesses are highlighted below:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_A2SlBebJ7PUBWC9OaMCF9poReqomd9emfZdqEVUtzgi7SAJdMjVuooMEGXmRGWbd0P6nbmG08ZYsTd2hceyfwf7peCKVcclrJTPEVbht7fp5nSOJKyc9EmhQc5vdDAorWqr_pg2KVevU/s280/Picture+4.png)
Loud and clear!
So forecast is for moderation in Eurocoin rise and thus a slowdown in the increase in growth into Q2 2010. Will Q1 2010 be the strongest bounce of 2010?
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEis3f5-cKQvG3OnGXOgeaRoUoXhKniy6SrDxY2ntzJXjgdNDD7VUigbixY_YXfGmdxR9vVBdQEEpDgYTp44OPWgVR0xFfHugC9EfcrWB1eeApKVPifJswTzYN5_LBC-OdJliLRsy2sovPN2/s280/Picture+1.png)
Forecast still to the upside in Q1 and Q2 2010, but this depends on Q4 2009 results, which
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