We now have to expect flat consumption in April, which means there has been no net increase since January ... the freefall is over but shredded balance sheets and declining incomes mean a broadly flat trend is about the best we can expect. Greens shoots withering ...Some people mistook the end of "cliff diving" for "green shoots" and started predicting a "V-shaped" recovery. Although the worst of the declines is probably over, an immaculate recovery seems very unlikely. (See Immaculate Recovery? )
Ian Shepherdson, High Frequency Economics
Overall, these data suggest consumers could not sustain the modest first quarter gains in spending and at least one “green shoot” appears to be wilting.
Nomura Global Economics
Wednesday, May 13, 2009
"Green Shoots Wilting"
A few excerpts from Economists React: ‘Green Shoots Withering’ in Retail
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.