Robin Brooks: ‘Global recession is coming. Most manufacturing PMIs recovered late last year, but that period of respite has ended.’

Global recession is coming. Most manufacturing PMIs recovered late last year, but that period of respite has ended. All across Europe, manufacturing PMIs have rolled over and are turning weaker again. pic.twitter.com/hOo1XLVfBa

— Robin Brooks (@robin_j_brooks) April 3, 2023

On the other side, China's manufacturing PMI is already rolling over just like commodities. #globalrecession is bigger than China reopening and that's why markets aren't buying it.https://t.co/tNPwMhmpYj pic.twitter.com/TCMjXVGOO4

— Jeffrey P. Snider (@JeffSnider_EDU) April 3, 2023

Global Recession 2023

All leading indicators continue to point to recession, and there has been nothing lately to negate or confound that signal

If anything, the banking crises only raise the prospect and proximity of a steep global economic recession… pic.twitter.com/rXw4mdWo8E

— Topdown Charts (@topdowncharts) March 28, 2023

Warning Signs Are Now Flashing Yellow: El-Erian

Mohamed El-Erian, chief economic adviser at Allianz and Bloomberg Opinion columnist, says the worst of the recent turmoil in banking is over, but there are still warning signs. “We’re going from liquidity to capital, and from financial contagion to economic contagion,” El-Erian said in an interview on Bloomberg Television in Cernobbio, Italy.