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2008 crash to be revisited?

March 11, 2012

A. Evans-Pritchard

M1 data signals new crash in months.

This is comparable to falls seen in mid-2008 in the months leading up to the   Great Recession, and which caught central banks so badly off guard.

“The speed of the drop-off is worrying. This acts with a six months lag time   so we can expect global growth to peak in May. There may be a sharp slowdown   in the second half,” said Mr Ward.

If so, this may come as a nasty surprise to equity markets betting that   America has reached “escape velocity” at long last, that Europe will scrape   by with nothing worse than a light recession, and that China is safely   rebounding after touching bottom over of the winter.

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