Fulcrum's nowcasting model shows that advanced economies have decelerated so far in 2015:
The slowdown is particularly persistent in the U.S., which is now estimated to be growing at 2% a year, half the pace of last fall:
China is growing at a fairly steady pace, and the eurozone's economy keeps picking up:
According to the Institute of International Finance's
EM Coincident Indicator "EM GDP may have grown in 2015Q1 at its weakest pace since early 2009", or 1.8% q/q saar:
That's at odds, however, with the J.P. Morgan
global composite output index, which picked up slightly from an average of 53.0 in Q4 (53.0) to 53.9 in Q1:
And, despite a plunge of the
J.P. Morgan U.S. composite in earlier months, output has rebounded of late:
And the
HSBC emerging markets composite index looks fairly stable, not falling:
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