The Conference Board Economics Watch® - European View

  • Publication Date:
    September 2012
  • Report Number:
    EWEV_V2N9

Near-Term Recovery in Euro Area Remains Unlikely, though Recent Events Provide Reason for Moderate Optimism

  • European Central Bank commitment to purchase sovereign bonds represents possible strong action to preserve the stability of the euro
  • Even in northern Europe, where skepticism regarding bailout measures has been vociferous, increased signs of support are showing
  • Euro Area Leading Economic Index improved in August; however, it is not yet clear if momentum has shifted
  • Core country LEIs are showing some weakness, raising questions about the countries’ ability to avoid a downturn in this environment
  • Housing markets in Europe remain weak and represent both a drag on growth and an additional source of financial market tension
  • Individual countries’ housing markets have distinct characteristics due to fragmentation of real estate markets and lack of mobility

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