The latest purchasing managers’ surveys suggests global manufacturing conditions improved a little in September relative to August. But they are still consistent on past form with very low global...

Disappointing trade figures have prompted us to cut our forecast for the growth of world trade volumes to just 2% this year. This is much lower than last year’s growth, and is slightly lower than our...

The recent decline in oil prices supports our view that a third round of quantitative easing from the US Fed is unlikely to cause global inflation to take off. Unfortunately, the boost to economic...

Even if it is sustained, this year’s rise in agricultural prices will have little impact on headline consumer prices, particularly in advanced economies. What’s more, we expect commodity prices to...