Lakshman Achuthan was on CNBC yesterday to discuss the outlook for the economy. The head Economist of the ECRI predicted the slow-down that the economy is currently undergoing, but maintains that the recent uptick in data is a “dead cat bounce”. Achuthan says this global industrial slow-down will be sustained and is likely just beginning. He says:
“There’s some false hope that there is a rebound here in the economy or in global industrial sectors in the second half….The global industrial slowdown is going to be present through year-end,”
Achuthan says the long leading indicators are pointing to persistent slow-down and that the recent uptick in PMI’s (short leading indicators) will prove temporary:
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