Assessments of business conditions now and perceptions for the next six months deteriorated significantly, as they did for the jobs market and spending intentions for homes and appliances.
This sentiment index generally peaks between 60% and 70% of the way through the cycle and so if that traditional pattern holds for this one, it would mean bracing for a recession to start any time from October 2017 to May 2018.
--http://business.financialpost.com/investing/investing-pro/david-rosenberg-all-signs-are-flashing-this-market-is-late-in-the-game
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