The October reading from the Euro-Coin index, a private expansion/contraction model developed by CEPR, is still pointing towards contraction across Europe. The latest reading of -0.29 is slightly improved from the September reading of -0.32, but still contracting. The recent readings are the worst since 2009 and consistent with the view that Europe remains mired in a deep economic hole. CEPR has a bit more:
€-coin continues to stagnate in October at a negative level
- In October €-coin was at -0.29 % (-0.32% in September).
The deeper pessimism recorded by the surveys largely offset the positive contribution arising from recent developments in manufacturing.