In an interview on FOX Business Network’s Risk & Reward, “Gloom, Boom & Doom Report” publisher Marc Faber says he still thinks a recession is on its way.
“I think there is a deceleration of economic activity everywhere,” he told Deirdre Bolton. “The U.S. has done relatively well, but also in the U.S. there are now cracks that are appearing… industrial production, new orders for durable goods… if you look at the trade balance of the U.S., imports are up and exports are basically down.”
“You look at corporate announcements of United Technologies and Caterpillar Tractor, which are big companies in the industrial sector… their announcements are all essentially negative for the second half. Technology companies have all warned about the second half.” Dr. Marc Faber added.
Reprinted from MarcFaberNews.com.
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