The figures for Eurozone nations don't really reflect an economy that is in need of QE
Source: JP Morgan, h/t @Colgo, Paul Colgan
Eurozone figures have never been as solid as they are leading into December last year, and the bulk of the boost has been coming from Germany.
With figures like that, you have to really wonder, is this an economy that is really in need for monetary policy stimulus?
Of course, these figures only tell half the story but then again, if you think about, when the ECB does decide to completely remove stimulus next year or in 2020, are they ever going to be as good as they are now?
Hmm, indeed.
