Market Talk – May 13, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 49.65 points or -0.13% to 38,179.46 Shanghai decreased 6.53 points or -0.21% to 3,148.02 Hang [...]
Germany Slips into Recession Following the Economic Confidence Model
COMMENT: Mr. Armstrong; Your ECM has been amazingly accurate. Not only did real estate peak, but it is now official, Germany is in a recession.
Great job
HW
REPLY: There is an accurate business cycle that unfolds but you must step back and observe it from a global perspective. The Economic Confidence Model has a long track record. The numbers are shocking. For 8 out of 12 months in 2018, German production has declined. On average, manufacturing declined 4.1% in November and energy production decline 3.1% in November. Even new construction has declined 1.7%.
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