Some good news out of Europe here.
Comments »Hussman Says The Recession is Here and Now
“John Hussman has long been on the recession bandwagon and he says his call is finally coming to fruition. In his latest note he highlights the evidence showing that we have reached the point that clearly delineates expansion from new recession (viaHussman Funds):”
Comments »Citi Puts Out a Report With a Three Year Outlook on the Global Economy
“Global growth prospects are worsening, reflecting the euro area crisis and emerging market slowdown,”
Comments »OECD Sees Continued Slowing in China and India
“PARIS (Reuters) – China and India have entered more marked economic slowdowns while growth continues to moderate in most major industrial economies, the OECD said on Monday.
The Paris-based economic think-tank said its composite leading indicator for China, which provides a measure of future economic activity, eased to 99.2 in May from 99.4 in April, slipping further away from the long-term average of 100.
For India, the indicator fell to 97.8 from 98.0, also below the long-term average of 100.
“Composite leading indicators … point to an easing of economic activity in most major OECD economies and a more marked slowdown in most major non-OECD economies,” the Organisation for Economic Cooperation and Development.”
Comments »PPI Data in China Shows Deflation May Be Spreading Worldwide
“China’s stocks fell by the most in a month, after a drop in producer prices fueled concern deflation may spread to other parts of the economy and Premier Wen Jiabao said the economy faces “relatively large” downward pressure.”
Comments »The Best Economic Indicator In The World Continues To Be Dead On
Weisenthal obviously loves this indicator, and I have to admit it tracks very well with the performance of the S&P 500. I would like to see more than 5 years of history. Read the article here.
Comments »Austerity’s Unintended Effects
We’ve Been DYING To Run These Gold Charts For You, And Now We Finally Can
A huge development happened in the world of economic chart-making today. FRED, the brilliant economics data and charts site that’s run by the St. Louis Federal reserve, has finally added gold prices to the database.
Read the article and see the graphs here.
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June Retail Sales Show a Pullback in the Consumer
“Retailers reported largely disappointing sales in June, as consumers pulled back on spending amid concerns about jobs and the economy.
Thomson Reuters was expecting its same-store sales index to inch up 0.5 percent in June, far weaker than a year-ago when the index rose 6.7 percent in June.
June tends to be a weaker month on the retail calendar with fewer reasons to drive shoppers to the store.”
Comments »China’s Beige Book Shows a Pickup in Growth Last Quarter
“China’s official statistics may be lagging behind independent data that show a pickup in the world’s second-biggest economy last quarter, according to a new private survey modeled on the U.S. Federal Reserve’s Beige Book.
The China Beige Book, through interviews of about 2,000 company executives and bankers, found retail sales and manufacturing strengthened while property sales increased and shortages of unskilled labor failed to abate. CBB International LLC, the New York-based researcher that conducted the survey, provided a summary to Bloomberg News via e-mail yesterday.”
Comments »Jim O’Neill Has 7 Charts to Chomp On… The Bears are Fucking Dead
Apparently O’Neill has passed some charts out to fellow co-workers within $GS. The charts tell an interesting story of how the bears may continue to get filleted.
Comments »Chart: US ISM since 1950
CLAM ACTION WARRANTED: A Closer Look at Today’s Disappointing ISM Data
Perhaps this will get the clam to act sooner rather than later. You know the markets think this way thus far, given we have had a moderate sell off after the data point came out this morning.
Comments »Can China Actually Drive Global Growth ?
A Round Up of Global PMIs
We all know the global economy is slowing, but these numbers are horrific. Let’s hope we have hit bottom!
Comments »Economists Cut GDP Growth for Brazil Again
For the eight week in a row analysts have cut GDP growth for Brazil. Economists now expect a meager 2.05% growth rate for 2012. A horrible estimate for an emerging market indeud.
Comments »A Stealth Stimulus Cited by the Bulls
India Expects to Fight Continued Inflation That Currently Threatens Growth
“India is likely to face elevated inflation risks from supply bottlenecks and lingering threats to economic expansion, the Reserve Bank of India said.
“Threats to stability are posed by the global sovereign debt problem and risk aversion, domestic fiscal position, widening current-account deficit and structural aspects of food inflation,” the central bank said in its Financial Stability Report released in Mumbai yesterday. While India’s financial system “remains robust,” challenges to stability have increased since the last assessment in December 2011.”
Comments »Cleveland Fed President: Education, Better Work Skills Spur Growth
U.S. Consumer and Exports Were Weaker Than Previously Thought to be in Q 1
“U.S. exports and consumer spending were weaker in the first three months of the year than previously thought, but business spending was higher, new data show.
Separately, the number of U.S. workers filing initial applications for unemployment benefits fell just slightly last week but remained high, signaling muted jobs growth.
The Commerce Department confirmed Thursday its previous estimate that the nation’s gross domestic product–the value of all goods and services produced in the U.S.–grew at an annual rate of 1.9% in the first quarter. That was down from a 3.0% rate in the fourth quarter of 2011.”
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