The fall of Greece: another drop in April
The Greek economy continues to crumble: Industrial production is in contraction territory, consumer confidence has plummeted, and business confidence is down
Writer, The PaperEconomy Blog
'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.
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Industrial production remains in severe contraction territory, consumer confidence has fallen off a cliff, business confidence is clearly depressed and the leading index is turning down fast dropping 0.66% since March and 6.36% below the level seen in April 2010.
For May (more timely data), consumer confidence declined 0.04% from April and dropped 0.69% below the level seen in May 2010 while business confidence declined notably from April dropping 0.47% but remaining 0.86% above the level seen in May 2010.
Industrial production remains epically weak plunging 1.21% between February and March 2011 (less timely data) remaining near the lowest levels seen since the late 1990s.
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