Currently, the global economy is in a period of

and

. Inflation remains the largest concern in most markets but has recently begun to

globally with only

countries reporting higher inflation this month than last month.

The Zoomed Out View

Aggregate charts for a better picture of what the entire global economy is experiencing. They change from time to time but we tend to highlight the current buzz from a zoomed out view.

Real GDP GrowthCentral Bank RatesInflation

Inflation

Year-over-year global inflation changes. Total number of countries with Inflation rising minus the number of countries with falling Inflation.

The most recent reporting period is03-2023

Latest
Reported	129
Higher	30
Lower	95
Unchanged	4

** A positive reading indicates more countries are reporting a higher value than countries that are reporting a lower value. Positive numbers should be read as global expansion of the indicator and negative numbers as global contraction of the indicator.

Real GDP Growth

Quarterly real GDP growth year-over-year changes. Total number of countries with Real GDP growth rising minus the number of countries with falling Real GDP Growth. Real GDP Growth equals GDP Growth - Inflation for a more true calculation of how an economy grew.

The most recent reporting period is9-2023

Latest
Reported	17
Higher	9
Lower	6
Unchanged	2

Central Bank Interest Rate

The global, on-balance Central Bank Interest Rate direction. Calculated by taking the total number of central banks raising their overnight rate minus the number of central banks lowering their overnight rate.

The most recent reporting period is04-2023

Latest
Reported	32
Higher	6
Lower	4
Unchanged	22

Inflation

Year-over-year global inflation changes. Total number of countries with Inflation rising minus the number of countries with falling Inflation.

The most recent reporting period is03-2023

Latest
Reported	129
Higher	30
Lower	95
Unchanged	4

Real GDP Growth

The most recent reporting period is9-2023

Latest
Reported	17
Higher	9
Lower	6
Unchanged	2

Central Bank Interest Rate

The most recent reporting period is04-2023

Latest
Reported	32
Higher	6
Lower	4
Unchanged	22

Inflation

Year-over-year global inflation changes. Total number of countries with Inflation rising minus the number of countries with falling Inflation.

The most recent reporting period is03-2023

Latest
Reported	129
Higher	30
Lower	95
Unchanged	4

Upcoming Economic Releases

All of the events below are considered high impact.

Country		Event	Actual	Estimate	Previous
Friday, Dec 20th
		Retail Sales ex Fuel MoM (Nov)	0.3	0	-0.9
		Retail Sales YoY (Nov)	0.5	0.8	2
		Retail Sales ex Fuel YoY (Nov)	0.1	0.7	1.6
		Retail Sales MoM (Nov)	0.2	0.5	-0.7
🇨🇦	Canada	Retail Sales YoY (Oct)	1.5	1.5	0.8
🇨🇦	Canada	Retail Sales Ex Autos MoM (Oct)	0.1	0.5	1.1
🇺🇸	United States	Personal Spending MoM (Nov)	0.4	0.5	0.3
🇺🇸	United States	Personal Income MoM (Nov)	0.3	0.4	0.7
🇺🇸	United States	Core PCE Price Index YoY (Nov)	2.8	2.9	2.8
🇺🇸	United States	Core PCE Price Index MoM (Nov)	0.1	0.2	0.3
🇨🇦	Canada	Retail Sales MoM (Oct)	0.6	0.7	0.6
🇺🇸	United States	Michigan Consumer Sentiment (Dec)	74	74	71.8
Monday, Dec 23rd
		Retail Sales YoY (Nov)
		Retail Sales ex Fuel MoM (Nov)
		Retail Sales ex Fuel YoY (Nov)
		Retail Sales MoM (Nov)
🇺🇸	United States	Durable Goods Orders MoM (Nov)	-1.1	-0.4	0.8
🇺🇸	United States	Durable Goods Orders Ex Transp MoM (Nov)	-0.1	0.3	0.2
🇺🇸	United States	Durable Goods Orders ex Defense MoM (Nov)	-0.3	-0.2	1
🇺🇸	United States	New Home Sales (Nov)	0.664	0.65	0.627
🇺🇸	United States	New Home Sales MoM (Nov)	5.9	8.2	-14.8
Tuesday, Dec 24th
🇦🇺	Australia	RBA Meeting Minutes
Thursday, Dec 26th
🇺🇸	United States	Continuing Jobless Claims (Dec/14)
🇺🇸	United States	Initial Jobless Claims (Dec/21)
🇺🇸	United States	Jobless Claims 4-week Average (Dec/21)

Don't let the economy surprise you.

Economic releases, key earnings, speeches, weather, and other market moving events for the week ahead are highlighted in our weekly Sunday note.