Synchronised depression

FT Alphaville � Blog Archive � Synchronised depression: "Synchronised depression"

The OECD has published its latest set of leading indicators. They’re not great. But you don’t need us to tell you that. Here’s Albert Edwards:

The OECD have just released their latest leading indicators. Amid mounting optimism of investors that the global economy is bottoming, these data suggest no such thing is occurring. Indeed they are catastrophically weak. Of particular interest in this context is the leading indicator for China (chart included, but also see website). It is suffering one of the biggest collapses of all the lead indictors that the OECD monitor. This suggests no imminent recovery is at hand there . Indeed as per my recent note, and despite the hopes of many in the markets the data confirms the prospects of continued recession.