Broad measures of the money supply are increasing at a decent pace in the major advanced economies, suggesting at face value that the global economic recovery remains on track. The biggest change over...

Final manufacturing surveys for June, published by Markit today, do not alter our view that global growth recovered in Q2. Admittedly, the global manufacturing PMI edged back down to 51.0, but on past...

Contrary to conventional wisdom, economic recoveries following a large devaluation have not always resulted from a surge in net exports. Instead, they have often been driven by rising consumption...

If, as seems increasingly likely, Greece defaults and exits the euro-zone within the coming months, the implications for the world economy should be fairly modest. Indeed, it could even turn out to be...