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Shipping News Says World Economy is Toast - Bloomberg

In October 2008, as the repercussions of the financial crisis were starting to ripple through the global economy, I noticed a press release from Swedish truckmaker Volvo saying that its European order book had fallen by more than 99 percent between the third quarters of 2007 and 2008 -- to just 155 from 41,970. That prompted me to study various other real-world activity measures ranging from shipping to air freight, and to conclude that "the news is all bad and getting worse, fast." The same exercise today, I'm afraid to say, leads me to a similar conclusion about the growth outlook.