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No sign of relief in Europe [ClearOnMoney]
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Commentary

No sign of relief in Europe

19 Mar 2013 by Jim Fickett.

Since people tend to splash out on big capital projects when optimism is high, construction spending is a good indicator of the business cycle. Today Eurostat released the production index in construction through January. There is no sign of relief from the clear downtrend. More generally, I have not seen any clear sign in hard data that the European recession is moderating.