World Econ still above water

I've been distracted by visits interstate to friends and relatives.  And then, cast down by the triumph of vicious stupidity in the US.   So, here (with a bit of a delay) are my GDP-weighted calculations of the services and manufacturing PMIs and their average, which correlates well with GDP.  As usual, the indices for each country were extreme-adjusted before they were combined into the BIG-8 indices.

The BIG-8 is made up of the USA, the Euro Area, the UK, China, India, Russia and Brazil.  Together, they make up roughly 70% of world GDP.

Note that the average of these extreme-adjusted PMIs is still above the "recession line" of 50%, implying that world economic activity is expanding, though, because they're not a lot above 50%, that it's expanding slowly.  Which seems to be born out by my estimates for world GDP, world IP and world retail sales.  Central banks have started cutting interest rates, inflation remains low, but politics could still pour sand into the machinery.  On balance, my guess is that growth will remain sluggish for the next few months, but will pick up thereafter.