In recent posts (see all five of them linked here: http://trueeconomics.blogspot.ie/2014/12/12122014-qna-q3-2014-irish-external.html) I covered in detail the latest official stats on Irish economic recovery/growth. The picture these figures present is of basically static domestic economy, with questionable quality 'exports-led recovery'.So what's can one add to the above? Ah, just a couple of recent surveys.
One thing you can always count on at (or towards) the end of a recession? An "end of the world," the "sky is falling," "it's never been this bad," "gloom and doom" article in Time Magazine, here are 4 examples:
While there haven't been many economic data points to highlights the so-called damage to if not the economy, then the confidence of the all important US consumer, data on consumer confidence has been trickling in, and as expected, has been sliding. However, nowhere more so than in the just released latest read in the Bloomberg Weekly Consumer confidence index, whose expectations gauge just tumbled to -31, or the lowest level since November 2011.
By Tom Lydon:
Consumer sentiment is at the highest level seen in five years as U.S. citizens are feeling more upbeat about the economy. GDP also grew at a faster pace than expected in the third quarter which is also helping to part the clouds a bit after the financial crisis although the jobs market remains soft.
For the second day in a row, better than expected Chinese "data" set sentiment across the board when following an improvement in its trade data (even as crude oil imports dropped to an 11 month low), last night China reported a better than expected August Industrial Production print of 10.4%, compared to 9.7% for July, and higher than the 9.9% expected.
By Patrick Collar:The Thomson Reuters/University of Michigan preliminary reading on the overall index on consumer sentiment rose to 84.9 from 82.6 in October, topping economists' expectations for 83. This reading was a five year high for the index and should be taken as a "sell on the news" event. This reading hit a high due mostly to the hope that American voters had that their candidate would win the election.