The fall of Greece: August 2011
Industrial production plunged 3.97 percent between May and June 2011, and consumer confidence remains low
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 is collapsing further into severe contraction territory, consumer confidence remains distressed, business confidence remains depressed and the leading index is turning down fast dropping 0.4% since June and 6.84% below the level seen in July 2010.
For August (more timely data), consumer confidence rose a meager 0.18% from July but dropped 5.17% below the level seen in August 2010 while business confidence increased a slight 0.28% from July climbing 0.86% above the level seen in August 2010.
Industrial production remains epically weak plunging a stunning 3.97% between May and June 2011 (less timely data) remaining near the lowest levels seen since the late 1990s.
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