Barclays Analyst Declares ‘Industrial Recession’
September 13, 2019
Economists are warning that a recession may be coming, but one analyst at Barclays is arguing that, at least for one sector of the economy, it is already here. Industrials analyst Julian Mitchell has declared that we are already in the midst of an industrial recession, based on Barclay’s monitoring of manufacturing, construction and energy companies.
Mitchell notes that while 100 percent of the industrial companies that Barclays covers saw sales growth in the fourth quarter of 2018, nearly one-third of them have seen their sales decline in the second quarter of 2019. Perhaps more alarming, he notes that the trend is unlikely to slow down anytime soon.