European prices come back down to earth with a bang
Macroeconomics
The inflow of statistics during the two weeks under review (September 9-22) was normal for the time of year, but it failed to signal a clear direction.
As before, prospects for growth in the global economy were generally positive, with the two lame ducks of Germany and Japan showing some hope for the coming year. While the data relating to Germany and France had more to do with confidence in the future, in Japan they expressed tangible progress. And while Germany’s Index for Business confidence rose again in September - the ninth month in row – the economy is by no means back on track. That is something that can only be confirmed by a reduction in unemployment and growth in the economy. Whether this can be achieved without a complete restructuring of the economy is a different matter.
