Half Empty

Half Empty

Wednesday brought more disquieting economic data and more rate hikes, underscoring the tenuous nature of any glass half-full assessments. Europe is probably in a recession and New Zealand saw fit to step up the pace of policy tightening amid a stubbornly resilient domestic economy and fears of perniciously entrenched inflation. Let's start in Europe. "Business sentiment remained gloomy by historical standards, and demand continued to fall at a steep rate, leading to a pull-back in employment
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