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China Will Not Save the Global Economy if the US Falters: PMI Preview
The United States continues to carry global economic growth on its shoulders, according to purchasing managers index (PMI) data reported by S&P Global this week. In the weak ahead, analog data tracking China’s performance is expected to underscore as much yet again. The US, China, and the Eurozone account for a hefty 58% of global gross domestic product (GDP). Much of the remaining 42% are vendor countries that rely on feeding demand from the “big three” economies to generate their contributions to overall growth. If all three of the engines powering demand misfire a worldwide recession is inevitable. The ... (full story)
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