I don't know.

 

In the US, we seem to be getting bad news after bad news. 

Cash for clunkers is a "success"  But most of those cars would be replaced in anycase, and demand was brought forward, while free cash was given away.

 

So no sustainable volume increase from that event, and most likely a poor couple of quarters will follow the initial surge.

 

Housing is still down, so none of the services associated with housing, refurnishing, moving, etc.

 

Even soaps are going to the low end of the spectrum, with few consumers wanting to spend for the major brand.  It's probably the right choice, the forumulation is similar if not the same.

 

People still buy food, staples.

Soda? maybe

 

Water, always, utilities still making some money.

 

Banks? not all of them.

 

Fuel/energy? no.

 

education? can't tell.

 

In a consumer led economy, look at what the consumers are buying.  If they're not buying much, then the economy is going down.