The latest euro zone flash purchasing managers' indexes may have surprised slightly on the higher side, but many are still not convinced that better economic growth is coming later this year.
"Nothing to see here, folks" was the reaction most analysts had to a completely shocking report earlier this week that showed manufacturing business conditions in New York State deteriorated at their fastest pace since the start of the financial crisis.
from Expert Zone:
(Any opinions expressed here are those of the author and not necessarily those of Thomson Reuters)
The recent stretch of dire economic data from Germany is starting to bear an unfortunate resemblance to late 2008 – when Lehman Brothers collapsed and the world tipped into the worst recession since the Great Depression.
from Global Investing:
(Corrects to say EI Sturdza is UK investment firm, not Swiss)
Commerzbank analyst Simon Quijano-Evans recently analysed credit ratings for emerging market countries and concluded that there is a strong tendency to "under-rate" emerging economies - that is they are generally rated lower than developed market "equals" that have similar profiles of debt, investment or reform. The reason, according to Quijano-Evans, is that ratings assessments tend to be "blurred by political risk which is difficult to quantify and is usually higher in the developing world compared with richer peers.
It looks like Britain might have to wait a while longer before its much-touted export recovery materialises.