, Columnist
The Scary Side of Europe’s Economic Data
GDP growth is OK, but that metric looks backward. Forward-looking indicators show that a calming presence is crucial at the ECB.
Ominous.
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If you measure the strength of the euro zone economies using hard data like quarterly gross domestic product reports, things look pretty decent. But soft data is painting a gloomier picture.
Hard data looks backward. The latest soft numbers — think of consumer-confidence indicators, surveys of business executives about their planning for inventory, production and employment, along with their expectations for the business climate — reflect fear about the future.