Global data points towards negative direction

Economic data from around the globe was released yesterday, nearly all pointing in a negative direction. Headline U.S. retail sales inched up a slight 0.1 percent while retail sales excluding autos dropped 0.3 percent and PPI an indicator of inflation fell 0.5 percent. 

"These numbers suggest that consumers, the key driving force behind any economy, could be slowing down", says Voya Global, an investment management firm. 

Outside the U.S. the data is equally unimpressive, U.K. inflation dipped into negative levels, Eurozone industrial output decreased, and China's CPI failed to meet expectations. 

Poor numbers from such a wide array like this indicate that the commodities slowdown is winding through the global economy.