World Economy Barometer - Cruise control

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World Economy Barometer - Cruise control

The global economy appears to have found the cruise control button. The global composite PMI readings in Q1 were all close to the long-run average.

Economic Analysis

22 April 2014

The Fed's decision to end QE is a step back towards normality.

The global economy completed Q1 with another solid showing in March. The global composite PMI, covering both manufacturing and services, rose marginally from 53.1 to 53.5 last month and spent the first quarter close to the long-term average.

The eurozone’s modest recovery continues with the region’s four largest economies – Germany, France, Italy and Spain – all posting composite readings above 50.

But a lot more is needed to put a dent in the region’s considerable economic problems and the situation in Russia and Ukraine is prompting some investor concern.

In this edition of the Barometer we explore some of the trade, financial and energy linkages and find that the global economic recovery is unlikely to be derailed.

Download the full Barometer (PDF 85KB)



This material is published by The Royal Bank of Scotland plc (“RBS”), for information purposes only and should not be regarded as providing any specific advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. This material should not be reproduced or disclosed without our consent. It is not intended for distribution in any jurisdiction in which this would be prohibited. Whilst this information is believed to be reliable, it has not been independently verified by RBS and RBS makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information. Unless otherwise stated, any views, forecasts, or estimates are solely those of the RBS Group’s Group Economics Department, as of this date and are subject to change without notice. The classification of this document is PUBLIC. © Copyright 2013 The Royal Bank of Scotland Group plc. All rights reserved.


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