Global Economic Update

The gradual 

global slowdown

is not stopping 

in spite of central 

banks trying to 

"fight back".

The U.S. economy 

continues to slow, 

but not as fast as 

economies in Asia 

and Europe.

-- U.S auto loan 

delinquencies just

hit a record high.

-- Global auto sales 

are on track for 

a 4% decline in 2019, 

versus 2018,

(a 3 million decline)

and 2018 had been

down from 2017.

A 4% decline would

be the biggest decline 

since 2008.

-- Total global trade 

has declined again,

year over year.

The September y-o-y

decline was the fourth

monthly decline in a row.

-- Chinese industrial profits 

fell by the largest percentage 

ever recorded.

China Industrial Enterprises 

total profits collapsed 

in October -- down 9.9% 

from October 2018.

China’s Industrial sector 

has had year over year 

profit declines for four 

of the last six months.

-- U.S. consumer confidence 

fell three months in a row.

(Conference Board)

Their consumer confidence index 

dipped to 125.5 this month,

down from 126.1 in October: