Seeking Alpha
November 19, 2010
Looking at the most recent OECD economic indicators, Greece makes by far the weakest showing in all the Eurozone appearing to have clearly collapsed into recession.
Industrial production has fallen off a cliff, consumer confidence remains historically weak, business confidence looks grim and the leading index is turning down fast dropping 0.24% since August and 6.65% below the level seen in September 2009.
For October (more timely data), consumer confidence declined 0.79% since September dropping 7.28% below the level seen in October 2009 while business confidence increased from September and remained 0.49% above the level seen in October 2009.
Industrial production remains weak but jumped a whopping 5.20% since July (less timely data) remaining near the lowest levels seen since the late 1990s.
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