Goldman Sachs Global Leading Indicator

“November Advanced GLI – momentum slowed to 0.33%mom from 0.45% last month – signals noteworthy deceleration and locates cycle back in ‘Slowdown’ phase – we would be cautious about taking November Advanced read at face value. George Cole: (i) The Advanced reading had signalled deceleration in October, when the Final GLI reading remained in the ‘Expansion’ phase. (ii) At this point, we think that a stabilisation of the global cycle at current growth levels, in line with our forecasts for a continued positive global growth outlook, is likely but we will look to the Final November reading with the full set of components for confirmation that activity is not decelerating substantially from current levels.” (Goldman Sachs)



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