As Trade Collapses, A Global Recession Could Be Ahead
It would be fair to say that 2016 has been a mixed year for economic data. There are some bright spots, such as the US and European employment markets (unemployment in the Eurozone dropped to 10.1% in May, its lowest level since July 2011) and the Institute for Supply Management on Friday said its index of manufacturing activity rose to a higher-than-expected 53.2 in June – its highest level since February 2015. German manufacturing conditions leapt to a 28-month high in June.
However, there has also been plenty of disappointing data. One of the most concerning trends is global trade growth.
The world economy will see the fifth consecutive year of...
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