World Growth

Here's my chart of year-on-year growth in OECD and BRIC industrial production (2007 GDP weights)  OECD growth appears to be still decelerating, though more slowly.  Growth in Europe has basically stopped (chart not shown).  Once again, the ECB (European Central Bank) has demonstrated its rank incompetence.  It needs to cut rates now, before it's too late.  Certainly it ought to be doing some fairly serious quantitative easing.   The US is OK, Eastern Europe is growing slowly but still positive (chart not shown), and the BRIC countries continue to grow solidly (on average) though a biggish chunk of that is now coming from China.