Summary Gasoline prices remain at seven-month low. Crude oil costs rise. Natural gas prices improve. Retail gasoline prices for all grades held at $3.31 per gallon (-16.5% y/y)...
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Charts of the Week
Charts of the Week
The messaging from this week’s raft of economic data has painted an increasingly familiar picture of the global economic scene. Headline inflation is finally easing off its highs in large part thanks to ebbing energy prices. But last year’s high levels of inflation and the global trend toward tighter monetary policy that they sparked are now exacting a heavier toll on economic activity.
Almost singing the same tune
The incoming data over this week have painted a more downbeat picture of the global economic outlook. But despite these weaker signals, financial markets have taken this news in their stride, possibly due to growing confidence that central banks will still manage to engineer a soft landing for the global economy. In our charts this week we home in on:
·    The global business cycle
·    US and European consumer confidence
·    The UK manufacturing sector
·    Policy stimulus initiatives from China
·    Goods and services inflation in advanced economies
·    AI and work automation
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