The EU – Current optimism likely to be challenged by poor economic data…

15 Jan

Reality Bites – the EU in the ass….

Industrial production plunged for all periphery countries
In terms of country, the industrial production figures were mixed with 8 out of 12 countries experiencing negative m-o-m growth. It is worth noting that all periphery countries recorded a sharp monthly decrease: Italy: -1.0%, Spain: -2.5%, Greece: -1.5%, Portugal: -3.4% and Ireland: -1.1%. As a result, the rate of recovery in the periphery remains well below the average. As for core countries, industrial production increased slightly in Germany (0.1% m-o-m) for the first time since July 2012.

Charts of the Day…

http://perspectives.pictet.com/wp-content/uploads/2013/01/EUIndProd14.01.2013-1.jpg

And, not to put too fine a point on things….

http://perspectives.pictet.com/wp-content/uploads/2013/01/EUIndProd14.01.2013-4.jpg

Things are unfolding about as expected…

Zero Hedge

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