Some of the promising signs of recovery of last spring have been snuffed out over the summer. The economy has hit a softer patch but we should not be too gloomy, says David Smith
Sometimes it is necessary to look at the big picture and it is clear that big picture has at best become cloudy at worst fallen off the wall in recent months.
Despite the banking and fiscal hangovers that were clearly impacting on growth even a few months ago it was possible to be pretty optimistic.
The global economy had bounced back sharply from 2008/09 and grew by more than 5% in 2010.
World trade grew by 13%. It was a recovery led by China...
