Growth gathers additional momentum
SHORT-TERM TRENDGlobal growth waxed stronger in February, with improvements across a wide range of countries.
U.S. manufacturing continued to improve, while housing and labor markets held steady. Mexico weighed on Latin America, U.K. growth slowed, and China outperformed due to an improved trade balance and stronger manufacturing data.
LONG-TERM CYCLEThis six-year illustration captures GDP gyrations since the financial crisis.
Sept ’10–Dec ’13Global growth swings dramatically, under pressure from sovereign debt crises and darkening global growth prospects amid fitful recoveries.
Jan ’14–Oct ’16Global growth settles into a more subdued pattern of modestly disappointing results.
Source: Putnam. Data as of February 28, 2017. We base our Global GDP Nowcast on a tailored methodology that captures daily data releases for the most essential growth characteristics for each of 25 countries — including purchasing managers’ index data, industrial production, retail sales data, labor market metrics, real estate price indexes, sentiment indicators, and numerous other factors. The mix of factors used for each market may change over time as new indicators become available from data sources or if certain factors become more, or less, predictive of economic growth.