Global
Global
Real Gross Domestic Product
Real gross domestic product, annual % change, updates quarterly
Real gross domestic product measures the change in the inflation-adjusted value of all goods and services produced in the economy. It comprises private consumption and investment, inventory buildup, government spending and net exports. Markets watch this indicator to gauge the strength and composition of growth.
Global
Unemployment Rate
Harmonized unemployment rate, all persons, %, SA, updates monthly
Unemployment rates measure the percentage of the labor force currently not working but actively seeking employment. Markets monitor unemployment rates to assess the cyclical health of economies and the likelihood that wage demands may increase inflationary pressures.
Global
Consumer Prices
All items, core, annual change, %, SA, updates monthly
Consumer Price indices measure the change over time in average prices paid by consumers for a market basket of consumer goods and services. As the most widely used measure of inflation, changes in these indices are closely followed by policymakers, financial markets, businesses, and consumers. Statistics agencies typically report both an ‘All Items’ number that includes all categories in the calculation basket, and a "Core" number that strips out highly volatile food and energy prices. Data shown are "Core" indices distributed by the respective national statistics agencies.
Global
Current Account
Current account balance, % share of global gross domestic product, updates annually
Current accounts measure each individual country’s transactions with the rest of the world. They measure the difference between the inflows of funds to a country from goods and services exported, income on holdings of foreign assets, remittances and grants received versus the outflow of funds from the same activities. A positive current account balance indicates that a country is a net lender to the rest of the world, while a negative current account balance indicates that it is a net borrower.
*Estimates begin after 2024
Global
Policy Rates
Central bank target rates, %, updates monthly
Central bank policy rates are the rates used by a central bank to implement or signal its monetary policy stance. Rates are typically set by policy making committees at regularly scheduled meetings throughout the year. In some countries policy rates are represented by discount rates and in others by repurchase agreement rates. Please note: A number of central banks implement their monetary policy based on more than one interest rate. For central banks that communicate a target band, the middle of the band is shown. Rates shown may lag decisions due to monthly recalculation periods.
Global
Money Supply
M2 money supply, billions USD, updates monthly
M2 Money Supply is a measure of currency that includes cash, checking deposits, and non-cash assets that can easily be converted into cash. Markets don’t typically respond directly to changes in M2, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.
Global
Money Supply Growth
M2 money supply, annual change, billions USD, updates monthly
M2 Money Supply is a measure of currency that includes cash, checking deposits, and non-cash assets that can easily be converted into cash. Markets don’t typically respond directly to changes in M2, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.
Global
Central Bank Assets
Central bank assets, billions USD, updates monthly
Central Bank Assets consist of government and corporate bonds, credit granted to financial institutions, foreign reserves, and other securities. Changes in central bank balance sheets help determine liquidity in the banking system and assist in the implementation of monetary policy. When policymakers buy government bonds and corporate debt instruments, they are seeking to lower yields and loosen financial conditions. Conversely, when assets are sold, they are seeking to increase yields and tighten financial conditions.
Global
Economic Policy Uncertainty
Global Economic Policy Uncertainty Index, GDP-weighted average, updates monthly
The Global Economy Policy Uncertainty Index is a gross-domestic-product-weighted average of national economic policy uncertainty indices for 16 countries that account for two-thirds of global output. Each national index reflects the relative frequency of own-country newspaper articles that contain a trio of terms pertaining to the economy, uncertainty and policy-related matters.
Global
General Debt Ratios
Credit to general government, non-financial corporate, and household sectors, % of gross domestic product at market value (Chinese government at nominal value)
Aggregate Debt Ratios measure the total borrowing of the general government, non-financial corporate, and household sectors, expressed as a share of gross domestic product. Total debt is followed by investors as a gauge of the vulnerability of an economy to financial shocks. An overly fast pace of debt growth is also frequently associated with a buildup of unproductive investment and excessively high asset valuations.
Global
Net International Investment Position
Net international investment position, billions USD, adjusted for breaks, updates quarterly
The Net International Investment Position is the difference between the external financial assets and liabilities of a nation. A nation with a positive position is a creditor nation and is generally considered a safe haven in financial markets. A nation with a negative position is a debtor nation, with deeper balance of payments vulnerabilities..
Latest Analysis
Latest Analysis
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30 May, 2025
Measures of risk appetite remain soft in currency markets amid mounting concern that Donald Trump’s tariffs may prove more enduring than had been hoped. A federal appeals court yesterday granted the administration...
Dollar Slump Continues As Appeals Court Temporarily Reinstates Trump Tariffs
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A federal appeals court has temporarily paused implementation of last night’s ruling that voided President Trump’s most wide-ranging tariffs. The US Court of Appeals for the Federal Circuit issued an order...
Tariff Celebration Proves Short-Lived
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Financial markets this morning celebrated a temporary reprieve from President Trump’s trade war after the bipartisan US Court of International Trade ruled that he overstepped his authority in using emergency...
Markets Soar After Trump Tariffs Are Ruled Illegal
28 May, 2025
The dollar and equity futures are spiking higher after the US Court of International Trade invalidated many of President Trump’s tariffs on key trading partners, finding in two cases that he had substantially...
Rally Fades As Uncertainties Remain
28 May, 2025
Traders are trimming risk after yesterday’s relief rally took market valuations a little too far. A rebound across Treasuries, equity indices, and the US dollar – initially driven by the Trump administration’s...
Tumult Fades As Intense Trading Week Begins
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Measures of risk appetite are improving this morning amid signs of an easing in last week’s bond market tantrum, and following a brief escalation in cross-Atlantic trade tensions. Equity markets are setting...
Tariff sabre rattling
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• Tariff news. Threats of increased US tariffs on the EU rattled nerves on Friday. US President Trump pushed out the deadline this morning.• FX trends. US growth challenges & policy uncertainty weighs...
Yields Push Higher as Debt Worries Intensify
22 May, 2025
Treasury markets are extending their losses this morning on worries that funding strains could reach unsustainable levels after the House of Representatives passed President Donald Trump’s broad-reaching...
Dollar Retreats As Market Momentum Slows
21 May, 2025
The ‘Sell America’ trade is back in play this morning. The dollar is unwinding last week’s gains and is down against all of its major counterparts, US equity markets are setting up for a bruising open,...
Markets Retreat on Signs of Consumer Strain
15 May, 2025
The dollar is retreating as optimism surrounding the weekend’s trade deal continues to diminish and US consumers show signs of exhaustion, leaving investors to contemplate longer-term risks to the American...