Michael Darda, Chief Economist at MKM Partners says we are at a “turning point in the economy”. Darda is one of the few economists who not only predicted the economic downturn leading up to the credit crisis, but also predicted the turnaround in 2009. Darda’s been pretty bullish up until a few months ago when his tone changed negative.
In these comments with Bloomberg on Friday Darda cited several sources of concern including the worsening situation in Europe and the Bloomberg Business Conditions Index which has turned down decisively in recent weeks. Darda says the index tends to lead the business cycle by a quarter and foreshadows weaker growth ahead.
You can see the full interview here: