Global Growth Barometer signaling slowdown

Global Growth Barometer tracks the movement of most important commodities. Its correlation with the stock market is far from perfect but it still tells on interesting story:

The drop in Global Growth Barometer is the fastest since 2008. Stock market is largely brushing this off as over supply issue (as opposed to slow down in demand) but caution is in order: Usually supply movements are slow in comparison to movements in demand. Unless this time is different, the global demand is experiencing fast slowdown.