A global summer slowdown looms as a leading indicator of factory activity has turned down, according to a well respected independent research firm.
The Economic Cycle Research Institute's long leading indicator of global industrial growth peaked at 0.7 in August 2010, predicting a cyclical peak for industrial activity this summer.
The index stood at 0.1 in March, near the lowest level since January 1980.
"There's a downturn in global industrial growth in clear sight," said ECRI managing director Lakshman Achuthan
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