An awful lot of the conjecture around recession fears aren’t well grounded in the data. People see a drop in growth and exclaim “recession!” But there’s still growth...just less of it. We’ll see what brexit does but I now feel that’s being overblown as well. That’ll primarily be negative for the U.K. and a benefit to the E.U. as companies relocate to the bloc.
The biggest problem is China - and it’s unclear just how much of a bellweather Apple is for that region. There are other signs but China is set to slow down anyways.
People need to remember that a downward trajectory can always be transitory. We need consecutive data points to establish a real recession and these numbers still look ok.