DEUTSCHE BANK ECONOMIST: Secular Stagnation Is Over
Deutsche Bank's Torsten Slok just circulated an email making a big statement about the economy: secular stagnation is over.
Secular stagnation, the theory first posited by Larry Summers last year in a speech at the IMF, basically says that we are in a new economic equilibrium that will see slower growth than we've seen since World War II.
In his note, Slok writes:
The latest data for retail sales, durable goods, ISM, and jobless claims have been pointing to accelerating growth and the consensus expects 3% growth for the coming 6 quarters (type OUTL
So there you have it: according to at least one Wall Street economist, our recent economic malaise is over.
Here's the chart to back it up.
Deutsche Bank
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