I always ascribe more weight to anecdotal evidence than economists - pilots, shippers, hauliers etc always know way before economists when things are slowing down simply because most economists rely entirely on government-issued data which takes weeks or months to assemble. It's old news by the time it's published. But economists are a lazy bunch. Years of being feted and pampered by media and bankers has made them sluggish, so they just sit back and wait for "hard data" to tell them what has already happened, instead of going out and getting a feel for what's really going on right now.
Sometimes though you don't even need to go looking for it. Anecdotal evidence can be right in front of your eyes
And on that note, here are some snaps taken from the Singapore coast this morning. This is the parking area, where boats wait until they have a shipment to load.
There sure are a lot of boats out there waiting.... and waiting..... and waiting....
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