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Manufacturing data supports hopes of recovery in worldwide economy

This week we have seen positive manufacturing data from China, the Eurozone, India, Thailand, the US and even the UK. Despite the fact that recovery in the above areas is progressing at a very different speeds there are hopes that positive manufacturing data released this week could mark a significant turning point in the recovery of the worldwide economy.

The most startling turnaround appears to be in the US economy which only a few weeks ago appeared to be dragging its heels and in danger of potentially relapsing. However, despite the fact there is a multi-trillion dollar budget deficit and massive government debt, the economy does appear to be responding to initial investment by the Obama government. There is no doubt that a recovery in the US economy would drag each and every other developed economy around the world higher in due course, but is this too much pressure on the US?

The truth is that the US economy dragged the worldwide economy into recession due in the main to the credit crunch and the aftermath in the financial and money markets. It does look as though the US economy will also lead the rest of the world higher in due course although those who expect a smooth ride may well be in for a nasty surprise!

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