Daily Commentary: Quick thoughts on European data

This past week made it abundantly that Europe is slowing fairly dramatically. A number of countries have entered recession. I have been saying since October that Europe was already in a recession and we are now seeing this. By April, when the Q1 statistics come out, what I said in October will finally be confirmed. The other day, I said I hoped the downturn would be shallow. But we know that even countries like the Netherlands are going to be forced into cuts in order to make targets. This says ...


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