Jean Claude Trichet

Anyway, its labour market a kind of backward indicator of economic developments, we don’t have to pay too much attention when it comes to inquire about the situation of the economy. A good sign about the State of the American economy, is the advance indicator of economic activity (which synthesizes in itself to multiple economic variables), which returned to grow in May (made by 1.2%), surpassing market expectations. The construction data have also noted an interesting recovery in may, a month in which the beginning of construction of houses and building permits had an increase of 17.2%. AOL brings even more insight to the discussion. It may also witnessed the recovery of retail (by 0.5%), after three months of low sales. Joins the positive data the improvement in the confidence of American consumers, at its highest level in six years, and that business confidence It also behaves on the upside.

The signs of recovery in the US delude the eurozone, where the economy is still hurting. Industrial production fell in April, a 1.9% (21.6% in annual terms), the unemployment rate is located at 9.2 per cent of the economically active population, the highest level in 10 years, while the eurozone economy shrank by 2.5% during the first quarter of the year. Sign of weak demand in the region is that during may, the retail inflation was zero in interannual terms. On the other hand, external forces of recovery, that is, exports have fallen 23% in the first four months of the year. The weakness of domestic demand is also evident in another 23% drop in imports in the first quarter of the year. Optimistic basis or for convenience, Jean Claude Trichet expressed to Europe 1 radio that looks back to the crisis and prepares for what is to come: there comes a time where you can not spend more and may not accumulate more debt. I think that we are at that time.

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