Opinion
Economic uptick?
Are we experiencing an economic uptick? Well, not quite, yet it seems the bottom may have been reached. Unless you believe in a ‘W’-shaped downturn instead of a ‘V’-shaped one.
In June, I reproduced a chart from The Economist that showed global economic growth at a constant 4% in 2005, 2006 and 2007. Then there was a rapid slide in 2008 to a 2% drop. It’s still bad, but the second-quarter fall in 2009 wasn’t quite as poor as the first quarter.
Here’s the evidence (see image). A half-empty glass being made to look half-full, perhaps?
About the author
Richard Hall is chairman of Zenith International.
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