Looking at the most recent OECD economic indicators, Greece makes by far the weakest showing in all the Eurozone appearing to have clearly collapsed into recession.Industrial production has fallen off a cliff, consumer confidence remains historically weak, business confidence looks grim and the leading index is turning down fast.
For August, consumer confidence increased 0.58% since July but remained 4.28% below the level seen in August 2009 while business confidence increased just 0.18% from July and 0.74% from August 2009.
Industrial production remains weak declining 1.41% since the prior month remaining near the lowest levels seen since the late 1990s while the leading index is fully in declined dropping 0.53% from June and declining 5.70% below the level seen in July 2009.
