Are We Headed Into Recession/Depression? The Answer In 9 Simple Charts

For some odd reason, even though it is by now very, very clear that the world is back in a depressionary state, some are still fascinated by the inflection point of the global economy, and wonder: “are we headed for a recession?” (which obviously is the wrong question).

Anyway, to help with the answer is this set of 9 interactive charts from Reuters which should remove any last bit of doubt as to what is about to unfold, at least in the perception of conventional wisdom.

Furthermore, since most of these data sets are coincident or lagging, it is safe to say that the NBER will shortly announce that the recession started some time in H1.

1. US PMIs

chart

2. Philly Fed and Chicago PMI

 

chart

3. Euro-zone & China PMI

 

chart

4. OECD Leading Indicator

 

chart

5. ECRI Weekly Indicator

 

chart

6. Initial Jobless Claims

chart

7. Payrolls and Recessions

 

chart

8. Velocity of M1 Money Stock

 

chart

9. Consumer Confidence

 

chart

No additional colour needed but it is perhaps comically notable that, with another short squeeze driving stocks up almost 7.5% from the lows on Friday, long-only equity strategists start re-emerging from their bunkers calling for 10, 20, 30% moves into year-end – does it ever get old?

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.