Just passing along this data point from the Cross Asset Research team. They cite the CitiGroup Economic Surprise Index for several regions to reinforce their case for a global macro slowdown:
- The macro environment has slowed down in most regions except for the US, which is now enjoying a strong economic rebound.
- In China, economic data continue to surprise on the downside. Yet, even in a scenario of a severe downturn, the country can still emerge strongly from the crisis in the long term, if its leaders remain on the path of reform.
- Emerging markets continue to slowdown as reflected by the contraction in manufacturing activity in major EM countries.