And now, your daily dose of optimism via Ned Davis

Writing at Barron’s, Ben Levisohn picks up on some recent commentary from market watcher Ned Davis of  Ned Davis Research. Mr. Davis says the global economy has hit a turning point…

Has the global economy turned the corner?

Ned Davis Research says it has. They point to yesterday’s release of the OECD Composite Leading Indicator–which combines the leading indicators of all OECD countries plus six nonmembers–which rose 0.1 point in November.

That puts it “almost inline with its long term average…,” Ned Davis Research noted today. And for those worried that the global economy will nosedive at any moment, take heart–after three such gains, it “suggests a definitive positive turning point in the global economy.”

In fact, when the leading indicators start heading higher–and economies start growing–the expansion usually lasts for a median 12 month. That means this rally, could just be getting started, Ned Davis Research said.

If this doesn’t fit with your worldview, feel free to ignore.

If you’re open-minded, by all means click over.

Source:

Global Economy at “Definitive Turning Point,” Ned Davis Research Says (Barron’s)

hat tip Kevin