Eurozone data paints a bleak picture of economic distress: retail sales plummet, wages pose risks, but savings have drained, financing is tight, and uncertainty looms, likely leading households to curb spending. Germany’s industry remains in a slump, facing weak demand and declining production. Despite a glimmer of hope in high order stocks, urgent concerns persist about the ongoing economic downturn.
Yet, easily consumable excess savings have been depleted. Also tight financing conditions, higher uncertainty suggest that households may limit spending. Net lending households’ position rose exceed trend amid lower investment & higher saving ratio. pic.twitter.com/NG55flgPlf
— Sabrina Khanniche (@skhanniche) November 13, 2023
#Germany manufacturing activity in recession with another industrial production contraction in Q3 led by weak demand, residential construction & inventory correction. Still high stock of orders supportive of production & sentiment shows early signs of the end of the downcycle. pic.twitter.com/ogI28tEitY
— Sabrina Khanniche (@skhanniche) November 10, 2023
🇪🇺 *GUINDOS: #ECB WILL ENSURE RATE AT LEVEL TO TAME INFLATION – BBG
*GUINDOS: DECEMBER FORECASTS WILL HELP ECB JUDGE SITUATION
*GUINDOS: INFLATION DOWN, BUT WILL STAY TOO HIGH FOR TOO LONG
*GUINDOS: DOMESTIC PRICE PRESSURES REMAIN STRONG
*GUINDOS: FISCAL POLICY SHOULD AIM TO…— Christophe Barraud🛢🐳 (@C_Barraud) November 13, 2023
Other than that things are fine in Europe
Chart @skhanniche pic.twitter.com/ysAM7elGHe
— Michael A. Arouet (@MichaelAArouet) November 13, 2023