Eurozone economic confidence gets December boost (AFP)

THERE are continued signs today that the recent market placidity in Europe is not proof the crisis is over. Begin with this Reuters piece, with the encouraging headline, "Eurozone shows further signs of recovery". Splendid! Only:

BRUSSELS — Inflation in the eurozone has fallen to a three-year low and unemployment hit a new record, cementing expectations of an interest rate cut by the European Central Bank later this week. Inflation tumbled to 1.2% in April, the lowest level since February 2010 and the biggest monthly drop in more than four years, the EU’s statistics office Eurostat said on Tuesday, reflecting an economy mired in recession.

LONDON — The schism dividing the eurozone’s strong and weak economies deepened to include its core pairing in February as French firms suffered their worst month in four years in stark contrast to prospering Germany. The gap between the two biggest economies in the eurozone is now at its widest since purchasing manager surveys (PMIs) started in 1998, the latest sounding showed. It dealt a blow to hopes the eurozone might emerge from recession soon, showing the downturn across the region’s businesses worsened unexpectedly this month.

Business and consumer confidence in the 16-nation eurozone jumped to the highest level for nearly three years in September with a strong gain in Germany, an EU survey said on Wednesday.The Economic sentiment indicator produced by the European Commission rose by nearly one point from August to 103.2 points in the single currency area, the highest level since January 2008 when it reached 103.5 points.

Business and consumer confidence in the 16-nation eurozone jumped to the highest level for nearly three years in September with a strong gain in Germany, an EU survey said on Wednesday.The Economic sentiment indicator produced by the European Commission rose by nearly one point from August to 103.2 points in the single currency area, the highest level since January 2008 when it reached 103.5 points.