Based on the breathless media reporting recently, one would think the global economy is collapsing. Looking at the news coming out today, the reality seems to be quite different around the world.
BEIJING – Auto sales in China, the world’s biggest car market, rebounded in August as subsidies for energy-efficient vehicles and a stronger currency spurred demand. Demand was also relatively strong for imported vehicles, as Japanese and European automakers increasingly focus on serving the market for smaller, affordable cars …
LONDON (AFP) – World oil prices rose on Wednesday, rebounding from sharp losses earlier this week, as traders absorbed upbeat Chinese manufacturing data ahead of the weekly snapshot of US energy inventories.
CANBERRA, Australia – Australia’s economy grew at its fastest pace in three years in the second quarter as demand from China and elsewhere in Asia boosted exports of iron ore and other commodities.
Yes, soft patches exist but the global economy is nowhere near where it was, say, a year ago.
FRANKFURT (AFP) – German retail sales slipped again in July on a monthly basis, official data showed Wednesday, suggesting that consumers in Europe’s biggest economy have not given up their thrifty ways. On an annual basis meanwhile, retail sales in the biggest European economy gained 0.8 percent …
Even the U.S. economy, the global laggard, is poised to begin churning again. All it needs is a bit of confidence and all that business cash (a trillion plus) earning virtually nothing will go to work, and that means the hiring spigot will flow again. Time and confidence.
NEW YORK (Reuters) – U.S. private employers unexpectedly cut jobs in August … delivering another blow to the already faltering economic recovery. A separate report showed the number of planned layoffs at U.S. firms fell to their lowest level in 10 years, but there is little to suggest companies are on the verge of hiring on a scale that would lower the unemployment rate.
Today, at least, the market seems to get it – full recovery is just a matter of time. Tomorrow? Chicken Little just might come screaming through, again. Nevertheless, stay in the game – set up your trades and execute, and/or find the undervalued but strong investments and buy. The time is now.
NEW YORK (Reuters) – Major U.S. stock indexes jumped more than 1 percent at the open on Wednesday as new signs of growth in China and Australia eased concerns about the global economy’s health and investors shrugged off an unexpected cut in U.S. private sector payrolls.
Trade in the day; invest in your life …
