Euro-Zone ‘Misery’ Has Never Been Higher
by Tyler Durden
While the ‘Misery’ Index in Iran reaches exceptional levels, and the US aggregate of inflation and unemployment peaked last October, Europe’s misery has continued to rise in the face of an ever-easing ECB and political jawboning. As SocGen notes today, the UK’s misery has turned back higher and the Euro-zone’s Misery Index has never been higher. These misery indices clearly reflect deteriorating economic performances in the main G10 countries, with some unsurprisingly weaker performances in Spain and Greece, leading the eurozone index higher. Given recessionary situations expected in some eurozone countries next year, the misery index is unfortunately quite unlikely to edge south significantly.