-
Look Out
With the release of the US and EU GDP figures, the Q1 is behind us. Amidst the great uncertainty, there is at least one thing that is clear. The current quarter is going to be worse, even if not for China. The good news is that with lockdowns gradually easing, the US and European Union, and parts of Asia are probably near the peak of the economic contraction. The March data suggested China was likely past its low point, and the April PMI, if one accepts it as face value, shows the domestic economy is gaining traction. The non-manufacturing PMI rose to 53.2 in April, which is above the six-month, 12-month, and ... (full story)