Via Damien Boey of Credit Suisse today:
In our recent article “Crying wolf against the little engine that could”, dated 15 November 2018, we suggested that the pulse of activity growth has faded badly towards the back end of the year. Our activity tracker has been lingering at low levels for some time, consistent with growth well below 2% annualized.
So far, in 3Q, we have received partial data for retail sales, construction work done, and trade. We are still well short of all of the partials we need to “now-cast” GDP of course, but the preliminary data point to rather soft activity growth:
