Global economic growth trends lower
SHORT-TERM TRENDGlobal growth continues to slip amid China slowdown and weakness in exports.
Among G10 countries, the eurozone economies and Canada slowed. The U.S. economy was little changed. In the eurozone, manufacturing, energy, and consumer confidence contributed negatively to growth. Turkey’s economy continued to decelerate, and South Africa was the second-worst performer in the CEEMEA region. Growth in Latin America and China slowed.
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.
Nov ’16–Dec ’17More synchronous performance across global markets emerges to lift the trajectory of global growth.
Source: Putnam. Data as of September 30, 2018. 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.