Global Growth Slowing

| February 12, 2019
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Below are two examples of the slowdown taking hold across major economies:

U.K. ECONOMY FALTERS AHEAD OF BREXIT

NYT’s Peter Goodman: “As Britain slides toward a tumultuous exit from the European bloc, cities on the Continent are looking on with a mixture of opportunism and dread. From Amsterdam to Paris to Frankfurt, officials have been wooing companies seeking refuge from an increasingly uncertain United Kingdom. Yet many are bracing for Brexit-related chaos at ports.

Communities on both sides of the channel are already contending with economic weakness as the prospect of a no-deal Brexit discourages investment. Britain’s economy expanded just 1.4 percent last year — the slowest pace since 2012 — and actually contracted in December, according to data released on Monday.”

HOW BAD IS THE CHINA SLOWDOWN?

WSJ’s Austen Hufford and Theo Francis: “To gauge the scope of China’s economic slowdown, begin with forklifts. The factory workhorses are a barometer of the manufacturing sector’s fitness. Changes in demand can ease or worsen concerns about China. By that measure, EnerSys sees trouble. The Reading, Pa., maker of batteries that power forklifts said those sales in China fell in the last quarter after rising 10 percent or more earlier in the year.

Fourth-quarter results from U.S. companies highlight the many and varied ways that China’s cooling economy affects American business, and, in turn, offer a glimpse of what’s happening inside China. The indications are that slowing growth there is broad, if still modest.”


Stay Tuned, Disciplined & Patient! {TJM}

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