Global recession gathers pace

Thursday, 5 May 2022

Goldman’s nowcasting indexes are all telling the same sorry tale. Global recession is looming fast.

The global financial conditions index is off the chart tight:

And growth is following in current activity indicators. Remember that anything 2% and below is considered a global recession:

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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.