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 dropping 0.38% since July and 5.99% below the level seen in August 2009.
For September (more timely data), consumer confidence declined 0.12% since August dropping 5.65% below the level seen in September 2009 while business confidence went flat from August and remained 0.20% above the level seen in September 2009.
Industrial production remains weak declining 1.41% since the prior month remaining near the lowest levels seen since the late 1990s.
