Global trade declined last month, with total shipments dropping 9% from October.
This bad news could undermine the notion that we are in the midst of an economic recovery.
In fact, the number is higher than it was at the depth of the crisis last year—when shipments to the US dropped 7% from October to November.
The news jibes with data from JPMorgan, released last week, that global economic activity stalled out again in November.
Of course, some seasonal decline is expected at this time of year. Last year, however, the fall off in shipping just got worse and worse. Cross your fingers and hope that we’re not back on that sinking ship.
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