Don't copper-coat your recession forecast just yet

There’s an old saw on Wall Street that so goes the price of copper, so goes the economy. And it’s true that both of the last two recessions were preceded by price declines in copper and a build-up of copper inventory. Copper prices are down about 6% over the past month and inventories at the London Metal Exchange have jumped recently. With that worrisome trend in view now, some bearish analysts have gotten riled up in predicting an economic downturn.

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