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International Economic Week In Review: The Malaise Edition

Before getting into detail, here are the bullet points for the various economic regions

  • Australia is showing weakness, which explains why the RBA lowered rates 25 basis points. However, it's not to the point where we should be concerned about a recession.
  • Japan is improving from its technical recession.
  • Canada is being negatively hit by lower oil prices.
  • The US is powering forward at a solid rate.
  • The UK is also in a solid position.
  • The EU data is slightly hopeful.

The RBA lowered interest rates earlier this week (see here). While the economy is not in a position to be fearful of a recession, there is a slight weakness to all three major economic areas. The AIG manufacturing index stands at 49 (50 separates expansion and contraction) with 5 of 8 industries contracting. The service index is at 49.9, but 7 of 8 industries are contracting. And… Read More …