Europe: economy improving
Not only is the UK doing well, with especially London booming, but also Europe seems to be turning the economic corner. GDP growth overall is modest (1.4% and growing), but leading indicators suggest stronger confidence. Car sales rose 12% in August, for example (but W&D wouldn’t want to be in that business globally – new car sales have collapsed in China, Brazil and Russia).
And consumer confidence in the euro-zone rose to a four year high. Perhaps a little bit propelled by the emotion of the unemployment rate in Greece falling… to 25.2% from a high of 27.9% in September 2013.