Bullish pattern suggests a 'game changer' for the global industrial companies (via TradingNation)
Economic forecaster Lakshman Achuthan is seeing signs of a global growth comeback in an under-the-radar trend.
He's finding industrial commodity prices are starting to firm up and about to turn positive — a signal that demand is returning. "It's less negative. It's not even positive inflation yet. But the vector here is everything, especially in the context of the global industrial growth upturn," the Economic Cycle Research Institute co-founder told CNBC's "He's building his case on a chart of commodity price inflation. It tracks industrial materials including oil, steel, iron, nickel, textiles and some building supplies.
"You see that long suffering of the decline in global industrial commodity inflation over the last couple of years," said Achuthan. "That's come to a close. That's kind of a game changer if you're a global industrial company."Now, he's close to calling a rebound not only in the global economy, but in the United States, too."In fairly short order, those things are going to start to bottom out," he added.
On a bigger scale, Achuthan's call also signals he's turning more positive overall. He has been in theHowever, the turnaround may come with an unwelcome side effect. Achuthan warns that consumer spending, which he believes is decelerating,"If we stick with commodity price inflation for a second, for consumers the main one is going to be energy," Achuthan said. "That is on the margin a negative and is going to crimp discretionary spending.
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