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As in other developed economies, construction suffered severely after the global financial crisis. But its recovery from that trauma was hindered by the eurozone’s subsequent government debt and banking crises, which weakened the confidence needed to embark on new projects, and made the credit needed to fund them scarcer and more expensive. Continue Reading Below ADVERTISEMENT As a result, construction activity remains well below its peak before the financial crisis. A sustained revival would be sign that the eurozone’s modest recovery is broadening and lifting most parts of the economy, including those that suffered most damage. The preliminary results of a monthly survey by the European Commission also pointed to a continued pickup in optimism among the eurozone’s consumers, despite the possibility of big economic and political changes following upcoming elections. The Commission Thursday said its monthly measure of consumer sentiment rose to minus 3.6 in April from minus 5.0 in March. Aside from when it hit the same level in March 2015, the measure suggests consumers haven’t been as upbeat since mid-2007, more than a year before the onset of the global financial crisis. The survey comes ahead of the first round of presidential elections in France on April 23. Recent opinion polls suggests Marine Le Pen, who wants to pull France out of the eurozone and the EU, is likely to make it through to a second-round runoff to be held next month. As the year began, policy makers and economists had feared that an unusually busy, and potentially transformative, series of elections could spook consumers and hit spending. But the resilience of consumer confidence in the face of those potential headwinds should help support what has to date been a modest economic recovery, because more optimistic households tend to spend more. “There remains a possibility that consumer confidence in the eurozone could be periodically pressurized by political uncertainty and tensions over the coming months,” said Howard Archer, an economist at IHS Markit. “This would be particularly the case if there was a shock result in the looming France elections, notably a win for Le Pen. Additionally, there will be an election in Germany in September. Meanwhile, the Italian political situation is fragile.
For the original version including any supplementary images or video, visit http://www.foxbusiness.com/features/2017/04/20/eurozone-construction-booms-in-february-update.html
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Menace to society: Enforcement officers constantly tear down advertising banners put up by loan sharks. After a month of harassment from loan sharks, Chong was forced to disown her son durng a press conference called by Perak MCA. The loan sharks broke open her front gate and shattered five flowerpots. They threw flower pots at her car and motorcycle and called her incessantly, demanding that she settle her sons debt. Lah said his brother never came back after the announcement, although he called once or twice. He called me to explain that he was forced to borrow money after he was cheated. But I dont care about what he has to say anymore. He has caused so much pain to our mum and he shamed our family. He later accused us of not wanting to help him, but enough is enough, he said. Although his mother lodged a police report urging the loan sharks to leave them alone, Lah lamented that police did not take action. The harassment only stopped because they finally realised we really did not have the capability to pay them back anymore. I hope the police are more efficient in nabbing loan sharks today, because they are causing a lot of social problems, he said. But there are people who vouched that the existence of loan sharks may not be a bad thing. John (not his real name) said loan sharks would not be wiped out because they were needed. The businessman, who is in his 40s and had borrowed from loan sharks before, said despite their reputation, they were saviours in time of need.
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