This is a look at China's struggling export business.
Source
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.
Source
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.
Source
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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