The US economy will beat China and other economies in shaking off the recession and returning to growth, Roger Nightingale, strategist from Pointon York, told CNBC Tuesday.
“The American economy is the one that’s looking best in the world at the moment,” Nightingale said.
Investors should not look to China for a catalyst to global recovery because the nation’s weak import data point to a sluggish activity ahead, according to Nightingale.
“I’m very depressed about what’s happening in China. I think actually the Chinese authorities are talking up the economy, whistling in the wind,” he said.
“The idea that the Chinese economy is strong seems to me to be bizarre and I suspect that we’re going to get data out fairly shortly that brings it into line with reality … by the way, it’s even worse in India,” he added.
Nightingale said that the US economy could return to growth within 3-to-5 months, albeit pretty anaemic growth. However, if 10-year bond yields rise further it could stall the economic recovery in the US.
- Watch the full interview with Roger Nightingale above.
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