Consider these two charts of European Consumer Confidence (top chart) and Business Climate (bottom chart).
Also note that most county's respective PMIs are below 50:
The Financial Times is reporting that EU residents and business leaders are looking at the top chart and saying the "worst is behind us." From the story:
“The third successive, and appreciable, rise in eurozone economic
sentiment to be at a seven-month high in January adds to the evidence
that eurozone economic activity bottomed out around last October and
growth prospects are brightening,” said Howard Archer, economist at IHS
However, a look at the charts accompanying the report show that various sectors are still printing negative readings (see links above).
Noted for June 20, 2013
33 minutes ago