Daily Commentary: Quick thoughts on European data

This past week made it abundantly that Europe is slowing fairly dramatically. A number of countries have entered recession. I have been saying since October that Europe was already in a recession and we are now seeing this. By April, when the Q1 statistics come out, what I said in October will finally be confirmed. The other day, I said I hoped the downturn would be shallow. But we know that even countries like the Netherlands are going to be forced into cuts in order to make targets. This says to me that we have a Europe-wide problem with slowing growth being met with cuts and even slower growth as a result.

I should flag the article below about Denmark because it shows that the slowing economies are not just in the euro zone. Rather, we are in a synchronised global growth slowdown, wi...

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