Israel, Japan, France, Germany are all showing very minor economic expansions — an improvement form the recent freefall. However, green shoot expectations have been for a much greater expansion. Hence, even these positive prints manage to disappoint.

Here is what this improvement looks like in terms of global trade:

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0815-biz-webcharts

chart courtesy of NYT

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Source:
Hints of a Rebound in Global Trade
FLOYD NORRIS
NYT, August 14, 2009

http://www.nytimes.com/2009/08/15/business/economy/15charts.html

Category: Economy

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5 Responses to “World Trade Bottoms”

  1. dbneal says:

    A good deal of this improvement is probably the recent fall of the dollar. Notice the China, with their currency essentially pegged to the dollar, is flat-ish. US exports are dead in the water too.

  2. some_guy_in_a_cube says:

    Looks like a screen full of dead-cat bounces. Green-shoots, whoopee!

  3. DMR says:

    If that chart also indicated share of trade in GDP, it would be even more helpful. In that list, for example, India’s share of trade in GDP is so small that the 25% drop in trade doesn’t even show on GDP numbers.

  4. leftback says:

    The Asian bottoms seem small and well-defined, but the US bottom is getting wider and seems sort of squishy…