As Bespoke states below, with the Eurozone looking so good — on top of our own assessment of the U.S. economy — it’s hard to be anything but presently bullish on the global economy:
…. positive activity
sentiment was visible in surging Flash European PMIs
(chart). Japanese activity is also picking up, but the
European acceleration’s new highs are truly
remarkable. We note that French Services PMI
logged a reading north of 60, while Eurozone
Manufacturing at 60.0 was the strongest since April
of 2000 and the second-strongest reading in the
history of the series. We cannot stress enough how
hard it will be for global growth to lag as long as
domestic economies in the Eurozone look as solid as
the Flash November PMI data describes.
To add yet more fuel to those positive flames, German business confidence just hit an all time high:
