The global economy is getting stronger. The inventory correction in global manufacturing is over. The US housing bust is not feeding through into a US consumer slump or even a generalized curtailment of credit availability. And as long as the doughty US consumer is experiencing rising net worth and firm wage gains, there is no reason for consumption to collapse.
Europe is booming. Japan, where the signs are more mixed (output, exports, investment and jobs are strong but wages are weak), will also boom before the end of the year.
Thanks for your interest in Euromoney!
To unlock this article:
