It's coming, it's coming, though range of possible outcomes is wide
For months, many confidence indicators in the world economy have risen. But so called harder data on actual economic activity has stubbornly refused to improve. This clearly cannot last forever, something will have to give. Either confidence will weaken or real activity will strengthen (or a bit of both, of course). I would bet on the second option: harder data is set to improve materially in the months ahead.