The deceleration seen in the data of late raises questions. The latest US payrolls report points to a deceleration in hours, the October global PMI shows a step down in growth, and Western Europe is flirting with recession. Is this a loss of momentum to below potential growth in line with our forecast, or a more pernicious sign of something about to break? We believe the former.
Speakers:
Bruce Kasman
Joseph Lupton
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