More stormy waters

Macro Pulse · Sep 8, 2023 · 3m

The world economy’s resilience over the last few months has surprised many forecasters but the incoming data from Europe coupled with a further climb in the price of oil suggest that downside risks are accumulating. In our latest charts of the week publication we dig into this with some perspectives on:

· Recent global business surveys

· Credit impulses in the US and euro area

· Oil prices and inflation surprises

· Manufacturing capacity pressures and inflation

· Risk assets and data surprises

· Productivity and demographics