European sentiment indicator as an economic indicator

I don't put a lot of stock into economic sentiment surveys but the time series of this particular survey, the European sentiment indicator, caught my eye. It suggests a recovery in Europe is almost here.

Earlier today I had seen news that Sweden's economy turned down unexpectedly and Ambrose Evans-Pritchard was on the case with a negative spin on the implications. And while I am sympathetic to his arguments - especially given the house price inflation and household debt problems in Sweden - I...

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