­ We have counted over 50 companies that are turning positive on Europe in their earnings reports 15 EFTA00294320 Europe in Recovery Mode.... Eurozone Business Climate 1.5 1 0.5 0 0 0 el es -0.5 > 02 > 4, .6 -1 2 z 2 = 2 -1.5 -2 -2.5 -3 Source: Bloomberg Italian Retail Sales 1.00% 0.00% -