Reading the clock

20 March 2008

The Direction Or Angle Of The Arrow Gives An Indication of the point in the cycle the European construction industry is currently at. Given that there was stronger sentiment looking ahead then there was for the current situation, this month's arrow is approaching the vertical.

This indicates in a graphical way what the numbers say – activity will improve in the future, so the height of the boom has not yet been reached. The length of the arrow is indicative of the strength of sentiment, and again this month's is a very long arrow, due to March's up-beat results.

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