The data pointing to the synchronised global slowdown continues. This time we have a string of data from the United States, the United Kingdom, India and China telling us that the economy is not doing well. Here I am leaving Europe aside. But the data are clear in Europe as well - and they point to slowing.
The one data point that is positive here is the renewed stimulus in China. Now I don't think the stimulus in China is going to lead to anything sustained but it will goose the numbers in the second half of the year. Michael Pettis has recently made similar predictions, also saying he expects 2013 to resume the downward trajectory. But outside of China, the largest economies are slowing without any discernible policy response that can attenuate the downside.
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.