Global Leading Indicator

“February Final GLI – still locates cycle in ‘Slowdown’ phase – but both current level as well as previous trough of growth acceleration now appears less negative. Momentum was 0.20%mom, down from January’s revised reading of 0.22%mom. With the latest February reading and the notable revisions to previous months, the GLI signals that global activity growth has been sluggish but not as soft as previous readings had indicated. As weather-related distortions to US data are expected to roll off in coming months, we will be watching GLI closely for further confirmation of mild and temporary Slowdown. We continue to expect a return into ‘Expansion’ later this year in line with our optimistic outlook for US growth.” (Goldman Sachs)



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