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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Wednesday, November 14, 2012

Mirror Image: Declining Industrial Production in Europe

Data released today (Wednesday) shows that Industrial Production in Europe continues to decline, with this latest month's data sharply below that presented in July of 2008, as shown on the graph below.

As you can see, after a minor rebound from the lows in 2009, production has been in decline from March of 2010...mirroring the pattern leading up to the deeply depressed lows throughout much of 2009. This is reflective of the unemployment and recessionary conditions currently prevalent in Europe. The LTRO 1 & 2 cash injections by the ECB have not had a (lasting) positive impact in this particular segment of Europe's economy. European markets are currently down at the time of my writing this post.