Got global growth slowing?
Our Macro team analyzed the latest batch of global #GrowthSlowing data in a note sent to subscribers this morning.
Here is the key takeaway on Europe:
"... Today, the German economic ministry cut Germany’s 2016 growth forecast to 1.7% from 1.8% previously forecast. It also cut the 2016 export growth outlook to 3.2% vs prior 4.2% and lowered its outlook for import growth to 4.8% vs 5.3%. #EuropeSlowing."
... Then there's China:
"... Chinese industrial profits declined -4.9% Y/Y in December which is a sharp deceleration from -1.4% Y/Y in December. Whispers of fresh stimulus might be the only fading hope to delaying the flush of global overcapacity hanging on the “Chinese Demand” story."
Global #GrowthSlowing has been our Macro call for 18 months now. The latest batch of data confirms our thesis. We're sticking with it.