The industrial slowdown which began in the second quarter has accelerated and is affecting advanced and emerging economies alike. GDP is likely to contract in the euro-zone and Japan in Q3, while...

It looks as if global GDP growth slipped below 3% on an annualised basis in the second quarter of this year, its lowest level since early 2009. We expect no improvement in the second half of the year.

Many commentators argue that central banks in advanced economies have all but run out of ammunition. We disagree. Admittedly, the room for further conventional policy stimulus is fairly limited, but...

The global economy, which slowed sharply in the second quarter, has made a poor start to the third. Growth appears to have slowed in most of the major advanced economies in July, supporting our view...