Knock, knock… While the clowns are waiting for the Messiah (pick up your choice : “Obama” in the US, “Sarkozy” in France or “Abhisit” in Thailand) along with the Noah’s Ark (decipher : “recovery during the second half of 2009“) the crisis is worsening…
Let’s review some hard data.
What’s that ? Annualized GPD. It’s the difference between Q3 and Q4, times 4.
Let’s take an example :
Japan’s economy shrank 3.3 percent in the fourth quarter [compared to the previous quarter]. Japan’s gross domestic product figure translated into an annualized fall of 12.7 percent, exceeding a consensus market forecast for a 11.7 percent contraction, government data showed. (Reuters)
Another info so you can put things into perspective :
The pace of contraction [in Japan] surpassed an annualized 3.8 percent drop in the United States, which was the biggest fall in nearly 27 years.
Are things clearer now ?
I mean… those figures are ugly. And please, remember that we are talking about… Q4 !
You got already, here and there, data that give a taste of what Q1 will be… World trade, production, housing market, unemployment… it’s a mess. And a global one.
As for Thailand… Rendez-vous monday… The GDP report for Q4 will be published…