The gap is still unresolved

by: Han de Jong

Big Picture - 30 September 2013 - The gap is still unresolved ()

A gap has recently opened up globally between confidence indicators and the harder data, as confidence has improved noticeably while the harder data is lagging behind. This divergence cannot last long. Either confidence will fall back soon or the harder data will pick up. Last week’s data did not provide decisive information about how this gap will be closed. We continue to judge that the global economy is accelerating.