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Takeaway: Despite seeing European "growth momentum," the ECB's Mario Draghi acknowledged key economic indicators were signaling #EuropeSlowing.

Mario Draghi's Make-Believe European 'Growth Momentum' - Draghi Peter Pan cartoon 04.13.2016

"Notwithstanding the latest economic indicators, which suggest that the growth cycle may have peaked, the growth momentum is expected to continue.”

-ECB President Mario Draghi, 4/20/2018

Believe those peaking "economic indicators" ... not Draghi's make-believe "momentum."

Here are the peaks in key Eurozone data:

  • Real Retail Sales: September 2017
  • Industrial Production: January 2018
  • Manufacturing PMI: February 2018
  • Services PMI: February 2018
  • Composite PMI: February 2018

For investors looking to buy "cheap" European equities we strongly urge you reconsider.

Mario Draghi's Make-Believe European 'Growth Momentum' - Eurozone Composite PMI

Mario Draghi's Make-Believe European 'Growth Momentum' - etf pro