Why is US narrow money accelerating?
A pick-up in US narrow money momentum is a hopeful signal for 2025 but requires confirmation and does not preclude near-term economic deterioration. Continue reading
Is Chinese money growth bottoming?
Chinese money / credit trends remain weak but could be at a turning point. Continue reading
Is the ECB still too pessimistic on Eurozone inflation?
Monetary considerations argue that the ECB’s latest inflation forecast, like earlier projections, will be undershot. Continue reading
Will services avoid the double dip?
The “double dip” downturn in global manufacturing continued last month but services indicators remain mixed. Continue reading
Global money growth still stalled
Global six-month real narrow money momentum is estimated to have moved sideways for a fourth month in July at a weak level by historical standards. Continue reading