Just-released data released by the Bureau for Economic Policy Analysis (CPB) remain supportive of our scenario calling for strong economic growth in 2010. According to Dutch organization, world industrial output (IP) rose a robust 0.7% in December, the ninth consecutive monthly increase. As today’s Hot Chart shows, not only is global IP back to its mid-2007 level, it is only off 5% from its pre-recession peak. Importantly, the products manufactured are not sitting on shelves. According to the CPB, global trade flows surged 4.8% in December, the largest increase on record. The rise was widespread with exports from the developing countries rising 3% on the month and imports from the emerging economies jumping 8%. On a y/y basis, trade is expanding at an 8.1% clip.
NBF Financial
Related posts:
- RECOVERY WATCH: Global trade flows have resumed
- GLOBAL TRADE FLOWS KEEP SURGING
- GLOBAL TRADE FUELED BY ASIA
- GLOBAL IP BACK TO PRE-RECESSION LEVEL
- Trade Data Underscore Weakness of Recovery
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