World economy barometer - no sign of global recovery gathering momentum
World economy barometer - no sign of global recovery gathering momentum
18 March 2013
Key messages:
- February’s PMIs (purchasing manager indices) dashed hopes that the global recovery would gain momentum through the start of the year
- More encouragingly, the manufacturing new export orders components are showing solid improvements across major manufacturers, giving hope to a pick-up in global manufacturing in the coming months
- Germany’s outperformance in comparison to France is becoming increasingly pronounced
- And this isn’t the eurozone’s only problem. Long-term unemployment is rising across many of the region’s economies, with Spain and Portugal particularly worrying
- China's recovery is not faltering, but it looks to be losing a little momentum. Credit growth needs to ease
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