Our Global Economics Chart Pack has been updated with the latest data and our analysis of recent developments.
The latest hard data and survey indicators point to a slowdown in both manufacturing activity in advanced economies. And it’s becoming increasingly clear that labour markets are loosening, particularly in the US. But we still expect economies to achieve “soft landings”. Meanwhile, after a weak Q2, activity in China has started to gain momentum and should continue to do so amid an increase in fiscal support and strong demand for its exports. Accordingly, we expect global GDP to grow around its trend pace in the coming quarters. With inflation having fallen a long way from its peak, we expect more central banks to join the global monetary policy loosening cycle. But sticky wage growth remains an upside risk to inflation in Europe and will prompt some emerging market central banks to either stop cutting interest rates or resume rate hikes.
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