We predicted weeks back that Japan would recover faster than expected, that China would experience a controlled slowing, not a crash, and that US vigor would eclipse that of both the UK and the EU.
We seem to be close to target: Events in Japan are cooperating; China’s rate of growth is slowing but still vigorous; EU surveys today showed a "surprising" slowing in both services and manuf, including Germany and France. The UK - sideways.
And the US? Our view is for a moderate expansion ahead.
Robert Craven
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