FXStreet (Córdoba) – According to the Global Markets Research at Nomura there are signs that the global economic slowdown is easing.
Key Quotes:
“With the manufacturing PMI for emerging economies rebounding in October, we see signs that the slowdown in emerging economies, which was one of the main factors behind the global economic slowdown, is finally drawing to a close.”
“Our first reason for this view is that the slowdown in China is showing signs of easing. Chinese imports, which in real terms declined y-y in H1 of this year, have turned positive in H2.”
“Negative impact of currency depreciation has faded and trade volume has begun to recover in the past two or three months. An easing of the negative impact of the major currency depreciation experienced by many emerging economies also suggests to us that the economic slowdown in emerging economies is easing.”
“The recovery in emerging economies has only just begun and the rate of recovery is likely to depend on the timing of an interest rate increase in the US as well as on what happens to the US and Chinese economies. However, we think that the recovery is slowly under way.”
(Market News Provided by FXstreet)