Shifting Global Industrial Outlook
Global industrial growth has indeed been moderating as shown by recent weakness in related coincident data. In fact, late last year ECRI forecast a global industrial slowdown when at the time there was a prevailing perception that the U.S. economy would forge ahead despite Europe’s crisis.
While this optimistic consensus view has begun to dim, ECRI’s long leading indexes for global industrial growth offer critical clues to the depth and duration of the downturn.