China picking up (though I expect it to slow again), US flat, Europe recession close to end, world flat. Data through March/April. My calculations using my seasonal/extreme adjustment and GDP PPP weights for world IP.
I'm not sure that this chart justifies the markets' fears that interest rates have stopped falling. Yes, the world economy is recovering, but interest rates only start rising a year or two into the recovery, if then. I'll do an analysis of inflation later today.
Big 5 PMI rising, so the market is looking quite a long way ahead, as the PMI leads the economy by 3-6 months.
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