By Martin Langfield
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
China's transition into a domestic demand driven economy has kicked off with the government announcing long-awaited reforms, but it is missing a key element -- an indicator to measure the success of the plan.
Optimism in Germany is roaring and consumers across the euro zone are starting to become less gloomy. But the latest hard economic data are a reminder of the difference between confidence that things are going to get better, and the hope that they will.