1.) The EU 17 and 27 have both contracted YOY for the last two quarters. With the exception of the .1% Q/Q growth for the EU 27 last quarter, we'd be making the same observation for the overall EU 17 and EU 27 Q/Q results. This is what a region wide recession looks like.
2.) Only one of the big countries is doing well -- Germany.
3.) Five countries have been contracting YOY for four straight quarters; Greece, Italy, Cyprus, Netherlands and Portugal. Greece's contraction is especially severe.
4.) Four countries have been contracting YOY for three quarters: Spain, Czech Republic and Hungary.
5.) Four of the give largest economies are either barely growing or shrinking: UK, Spain, Italy and France.
6.) Only three countries are growing at strong rates: Lithuania, Latvia and Estonia.
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The Bonddad Economic History Project
At the beginning of 2012, I decided to start looking at the actual, statistical history of the US economy starting in 1950. The reason is simple: to find out what really happened. So, when you see title of a post that begins with a year such as 1957, followed by "employment" or "Fed policy: you know what it's for. You can also access the information by typing in BE for Bonddad econ and a year to find information on a particular year.
Here is a link to pages that contain links to all the posts on the years listed.