If you want to make more of a case for a V-shaped recovery, look to Europe. The ZEW German and Euro-zone expectations of economic growth survey shows a significant increase above market expectations and well above 50 with the highest level since 2006. All industries show improvement with the biggest gains in chemicals on the positive side. Banks have the overall highest rating which may seem a little strange since EU banks still have problems. The auto sector has become less negative and mechanical engineering is almost in positive territory.
Japan is seeing leading and coincident indicators stay stable even with department store sales still down double digits YOY.
There is growing evidence of a global recovery but does not look like it is taking a lead from the US.
Japan is seeing leading and coincident indicators stay stable even with department store sales still down double digits YOY.
There is growing evidence of a global recovery but does not look like it is taking a lead from the US.
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