Inflation remains in low stable territory nearly everywhere in the world while moderate economic growth prevails. Europe continues to struggle while the rest of the world enjoys average growth levels with excellent employment statistics.
Australian building environment and retail sales improved while Canadian employment remained in good favor. French trade improved with German industrial production and Russian GDP. Most of the world continues to enjoy low inflation.
In North America Canada continued to slow while American housing moved ahead slightly. Consumer expectations softened but employment remained solid. Europe experienced high expectations in Germany and France but disappointments in Spain. Japan watch retail sales improve and Singapore industrial production moved to the positive side. Unfortunately, South Korea watch theirs slow.
Overall, most indicators passed along a recognition that the slowing taking place on a global scale was not moving into a contraction. Many pricing indicators experienced slight increases. Most production and sales orientated indicators were mixed with some increasing and others of equal importance softening thereby not giving a clear indication in direction.
Global economic data is mixed but with a gentle slowing of growth. It is a slower rate of growth, not the end of expansion. Inflation is tame throughout the developed world which frustrates central bankers with interest rates at historically low rates. Maybe we are establishing new “historical” rates. Sometimes history becomes the current environment.