According to our EM strategists, there is not much evidence to argue that global growth is improving:
- Global trade volumes are contracting and EM share prices – advanced by six months – indicate that the pace of global trade volume contraction will escalate.
- EM import volumes are contracting, and US import volume growth is heading to zero.
Indicators revealed in the next Insight also point towards downbeat growth conditions.
Related:
Global Liquidity Update - Japan, Euro Area, and Emerging Markets All Negative