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 0.24% since August and 6.65% below the level seen in September 2009.
For October (more timely data), consumer confidence declined 0.79% since September dropping 7.28% below the level seen in October 2009 while business confidence increased from September and remained 0.49% above the level seen in October 2009.
Industrial production remains weak but jumped a whopping 5.20% since July (less timely data) remaining near the lowest levels seen since the late 1990s.
