Export growth excluding Hong Kong is hitting new lows since the last recession. Overall growth has been sluggish for more then a year now. I suspect the pick up in the 2nd half last year was helped a lot by the new AAPL products announced last fall. At the moment there is no sign the global economy is set to pick up.
Here is another chart with more evidence the global economy is slowing again.
The April reading of Goldman's global leading indicator took a big tumble. The big drop in industrial metals might have played a part in that. At any rate it is possible the global economy is set to slow down more.
Just a reminder that we may already be in a global recession.
We have seen the U.S. data coming in below expectations pretty often for a couple of months now. The global economy appears to be slowing considerably again. All this could easily impact 2nd quarter earnings significantly.
Bob
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