In this issue, William De Vijlder's editorial, Tarik Rharrab's analysis of the latest PMI indicators, and the update of our markets overview and economic scenario sections.
The S&P Global manufacturing PMIs for the month of March point towards a pickup in economic momentum in most countries. In the Eurozone, the improvement is strong, especially in manufacturing and to a lesser degree in services. Momentum is slow however in terms of employment. In the US, the recent pickup in manufacturing sentiment is also strong compared to history. Against the background of these and other strong data, Fed officials have insisted on the need for caution in cutting rates, all the more so considering that the pace of disinflation has clearly slowed. The US soft landing view is increasingly being challenged and ‘no landing’ is put forward as an alternative
An analysis of the latest PMI indicators, by Tarik Rharrab.
GDP growth, inflation, exchange and interest rates.
