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
The deeper pessimism recorded by the surveys largely offset the positive contribution arising from recent developments in manufacturing.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.