US and China on recession collision course

Thursday 28 October 2021

Hard to believe, I know. It was only a few months ago that we were all celebrating the boom of a lifetime but that’s how fast things can turn in the COVID environment.

The Fed’s GDPNow measure is almost in contraction now:

As we know, China is already at 0.2% as well:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.