Global economic growth slows
SHORT-TERM TRENDEconomic expansion slipped across most of the world
Growth among G10 countries was mixed, with the eurozone leading the decliners. New Zealand’s economic indicators improved. In the eurozone, manufacturing and services PMI dropped; business sentiment disappointed in Italy and France. Growth in the CEEMEA improved due to South Africa. China’s growth cooled
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 December 31, 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.