Economy

xchrom

(108,903 posts)

19. French and Italian car sales show the real state of Europe's economy

Wed Apr 18, 2012, 07:54 AM

Apr 2012

http://www.guardian.co.uk/business/economics-blog/2012/apr/17/france-italy-car-sales-european-economy

Markets on Tuesday were almost euphoric after Spain managed to sell some bonds at not outlandish interest rates. Even the Greeks managed to borrow money, albeit for just three months. Better than expected business confidence in Germany also encouraged markets bulls to press the accelerator button.

The IMF produced a global economic forecast slightly higher than its last one. "All good," as Hugh Bonneville's character Ian Fletcher often says with a fixed smile on the BBC's comedy 2012. The FTSE was up more than 100 points at 5766. Continental stock markets followed suit.

But traders are looking at the magnificent froth on their capuccinos and failing to see that their coffee has gone cold.

Which is another way of saying that figures from the real economy were decidedly chilly.

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