I’ve been saying this for a while, but as I am an engineer, not an economist, dammit,*, but still, I have to wonder why it’s taken so long for the Bank for International Settlements to see that the world economy is in serious trouble, with a possibility of a world wide recession.
The Chicago Purchasing Manager Index is up, to 49.6 from 49.1 last month, but any number below 50 still represents a contraction.
We can wait for tomorrow’s Institute for Supply Management’s June manufacturing survey to get a better picture.
*I LOVE IT when I get to go all Doctor McCoy!!!