things turning up?

Downturn bottomed out, Trichet signals

Jean-Claude Trichet signalled on Monday that the global downturn had bottomed out with some large economies already able to put the recession behind them and look forward to renewed growth.

http://www.ft.com/cms/0615b5ee-3e86-11de-9a6c-00144feabdc0.jpg', '1000', '750', 'Hopeful signs in China and Europe but US slowdown continues')">The European Central Bank president’s comments on Monday in Basel, Switzerland, had added weight because he was speaking on behalf of the world’s leading central bankers, not just for the eurozone.

His remarks came as the Organisation for Economic Co-operation and Development said there were signs of a “pause” in the economic slowdown in France, Italy, the UK and China.

The tentative signs of green shoots across the global economy have already led to a 40 per cent increase in global equity prices since the trough in March, according to the FTSE All World ex Japan index.

There has also been a rise in business and consumer sentiment in recent weeks, as orders have begun to return and levels of unsold stock have begun to subside.

 

Posted via web from jimnichols's posterous