Given the hours of news coverage, newspaper headlines and blogosphere pages generated in the name of Trump, Brexit and increasingly Fillon/Macron/Le Pen, it would be easy to bypass the fact that, in general, economic data coming out of the Eurozone has been steadily improving.
Of course that's all rather boring when we can pop over to twitter to see 'The Donald' denouncing his next target but, ultimately, when it comes to deciding where to allocate capital, hard data is the place you can gravitate back to when all the noise and rhetoric is pulling you in every direction.
That's why it's worth pointing out that Europe has been quietly plugging away with positive economic news, almost under the radar. For the 43rd straight month, the Markit Eurozone PMI index, a measure of manager's confidence, has been positive and 14 consecutive quarters of growth is certainly nothing to sniff at.
Thus far, the resilience to Brexit has been encouraging...next stop, triggering Article 50...
The eurozone economy has now posted 14 consecutive quarters of growth, the unemployment rate has returned into single digits, and economic sentiment has reached its highest level in six years. The numbers contrast with common depictions of the eurozone economy as stagnant, sclerotic and perennially underperforming.