Reversal of fortune
A Fed easing narrative has been re-energized over the past few days largely thanks to a slightly weaker than expected US CPI report this week but, more generally, because of a battery of weaker-than-expected US data over the past couple of weeks. In our charts this week we examine the following:
· Consensus growth expectations for 2024
· GDP growth in advanced economies in Q1
· The German economy’s under-performance
· A slowing UK labour market
· US immigration
· Global food price inflation
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.