Since the outbreak of the Eurozone crisis in 2010 public investment in the Eurozone net of depreciation has collapsed. One reason why Europe needs a proper Green New Deal h/t @davidrkadler @yanisvaroufakis
Whilst the rest of the Italian economy stagnated exports have grown consistently since the eurozone began to recover in 2013.
Eurozone shares -4% US shares -3.4% on concerns re rising number of Covid-19 cases outside China, mkt back to initial Feb low on virus concerns US 10 yr yld -10bp to 1.37% Oil -4% Gold +1% Iron ore -0.7% ASX futures -2.4% $A 0.6604 (surprisingly stable) with $US index +0.1%
Eurozone has below-avg direct dependence on China imports BUT Germany seems more exposed to import of electronic components. CN accounts for 37% of total German imports of this input, while avg for rest is 26%. Situation significantly different for other players like US, DB says.
Join UK chief market analyst, @mhewson_CMC , as he previews US consumer confidence and Q4 GDP, eurozone inflation, plus results from Metro Bank, Coca-Cola, Taylor Wimpey, LSE and Rolls-Royce. Tune in to our week ahead video to plan your trading:
"The evidence is irrefutable: the UK economy has grown faster than Germany, France and the eurozone as a whole for most of the last two years."
Eurozone grew by only 0.2% in Q3, well below modest growth in U.K. and suggesting it’s not only Brexit Britain that has a problem with low growth.
Bravo Podemos! A small step that may turn into a large faultline shattering the Eurozone's crisis-denial & austerian contempt for democracy.