Interesting that optimism over the global economy seems to have dropped over the last couple of quarters. Really seen as a crisis of confidence rather than embedded in the fundamentals, the world is in a wait and see mode.
Couple of interesting comments and potential event drivers discussed to watch.
- US election and the ‘fiscal cliff’
- Metal production, an indicator of growth and investment, is down
- Demand in Southern Europe is soft, Northern Europe has been holding up
- Growth in emerging markets
- Increased importance of energy costs and interest rates on inflation
Things to watch.