The financial panic that began in early September has been a body blow to global business confidence and the global economy which as a whole. According to the Survey of Business Confidence of the World, conducted by Moody's Economy.com, the global economy is now in recession.

But how bad is it? As part of my ongoing research, I study a large array of economic statistics - usually in graphic form. Below are a number of charts, together with cryptic comments, that I have just compiled in order to cast some light on the economic outlook. As the saying goes, a picture is worth a thousand words.

The recession in global manufacturing is intensifying.





Latest reports have it that China has joined the manufacturing recession.



The global non-manufacturing (services) sector has also caved in, especially in light of what’s happening in the global banking sector.



Even before the collapse of the global banking system, a global recession was on the cards.