Remember the "Confidence Fairy"? The European 'Economic Sentiment Indicator', which represents consumer and business confidence in the economy, rose for the past two months straight. Across service and industrial sectors, 'slower declines for new orders' restored a great deal of confidence to European employers.
However, are these lifted spirits justified? Did perhaps one too many holiday cups of cheer, give buyers/consumers a false sense of vivacity? Alas, I bet these ever rising unemployment figures will restore some much needed sobriety. Or am I wrong here? Is this quantitative boost in confidence instead a shift into the right direction?
I believe that this is a step in the right direction with moderation. Unemployment will always be rising and falling but it is hopefully a good wake up call for the euro zone.
ReplyDeleteI also agree with Rohitha. It is necessary for the leaders in euro zone to take immediate action to fix the problem.
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