7/9/2014: What do PMIs Signal on Global Growth?..

Here’s an interesting point raised recently by @phil_waechter: the global growth that is supposed to accelerate in H2 2014 is really not happening and worse, compositionally, the prospect of such growth is heavily reliant on one country’s fortunes: the U. S.
Things are not pretty, but they are not as ugly as the above chart shows, at least in the short run of the last 2 months. Here are the summaries for global growth by index:

This post was published at True Economics on Sunday, September 7, 2014.