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Goldman 'Still Stuck' Waiting On A Expansion, In Latest GLI Note

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Goldman 'Still Stuck' Waiting On A Expansion, In Latest GLI Note

After a first quarter view-reversal by Goldman Sachs (NYSE: GS) analyst George Cole, the global investment bank seems to still be waiting for the turnaround and expansion they have discussed for over the past two months.

Goldman has been struggling to see the underlying economy follow through and support the banks' proprietary Advanced GLI (Global Leading Indicator, which has signaled a move into the expansion phase for the past four months --  period during which Goldman went from expecting a "mild" to a "modest but broad-based" slowdown in activity, to being on the "cusp" to being "still stuck" waiting on expansion.  

Related: JP Morgan, UBS Weigh In On General Motors

Through all that, the Advanced GLI has signaled a move into the expansion phase. A reason for the slack in performance is most likely attributed to the weak recovery and the unsound fundamentals undermining the legitimacy of this so-called "economic expansion" -- fueled by cheap money, skewed labor reports, 27 million autos recalled by GM, uncertain foreign GDP metrics and a swelling in home prices. 

Here's a review of the Goldman verbiage, on a monthly basis:
Jan: "More signs of a mild slowdown"
Feb: "A modest but broad-based Slowdown"
Mar: "On the cusp of Expansion"
Apr: "Another month on the cusp of Expansion"
May: "Still Stuck"

Latest Ratings for GS

DateFirmActionFromTo
Nov 2019MaintainsEqual-Weight
Oct 2019MaintainsEqual-Weight
Oct 2019MaintainsOutperform

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Posted-In: Advanced GLI George Cole Goldman Sachs marketsNews Analyst Ratings Best of Benzinga

 

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