Blog: Financial crisis fallout continues
Dave Leggett | 21 May 2010
World stock markets are apparently taking a reality check and heading south. The herd is still worried about debt problems in Europe and the latest unemployment (well, claimants) data in the US hasn't helped.
I am heading to Oxford later today to meet with JD Power Automotive Forecasting analysts and talk about their latest views on where automotive markets are heading. There's plenty to talk about.
On a related note, the consultants at Frost & Sullivan have been holding a kind of rolling event called 'GIL' (Growth Innovation Leadership – there's a link below) which is all about where different industries are heading all over the world. One of these participatory events took place at Arsenal's football stadium this week and I would have gone if I could, but I have been a bit desk-bound lately.
F&S put out a release on their London pow-wow and this quote from one of the speakers was a particularly good one I thought – in terms of the macro picture and where we are now:
The Economic Summit keynote speech was presented by Mr. Holger Schmieding, Chief Europe Economist for Bank of America - Merrill Lynch, who discussed the current financial crisis and how the global economy can return to growth in an uncertain future. "This financial crisis was as bad as we have ever seen and we have little idea of what to expect next," he said. "Although the EU economy started to grow again in mid-2009, we must now contend with spiralling government debt," he warned.
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