Paul Hannon

speaker

41 appearances 1 recordings 1 series first heard Nov 2019 last heard Nov 2019

Paul Hannon’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Business Activity Pumps U.S. Economy Amid Global Slowdown · 25 Nov 2019 podcast

surveys of businesses, the purchasing managers who buy all the things that businesses need to be able to make their goods or provide their services, detected a pickup in activity, a surprisingly strong pickup in activity during November.

And that has sort of eased fears that the U.S.

economy was slowing more sharply than it has been to date.

It's not a strong, a very strong economy by any means.

But what it is, is a stronger economy than Europe, Japan and most of the rest of the world right now.

And that, you know, is obviously something to hold on to.

The same things that are holding back the rest of the world economy appear to be holding back the US.

That is to say, this great uncertainty about how the

The trade relationship with China is going to work out in the future is worrying manufacturers in particular, and they're holding back on investment spending.

I think that's the case.

You know, there is some progress or the appearance of progress towards what's called a phase one deal between the US and China that might deal with some of the issues on the surface.

But a lot of people who look at these issues think that there is

much, much more work to be done in coming years to really solve the underlying stresses that have driven this particular dispute over the last 18 months.

So nobody really expects all this uncertainty that's spooking businesses around the world to suddenly disappear, even if there is a short-term trade deal to be announced in the next few weeks or months.

She has been, until now, the head of the International Monetary Fund, and that looks at how the global economy is performing.

So her assessment is based on that experience as well as being a central banker.

And

You know, her assessment of this is not very encouraging.

She says that the global system that people have gotten used to over the last few decades has become fractured.

And that is a big worry for businesses, for the Eurozone in particular, for Europe in particular.

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