THE WORLD ECONOMY HAS RECENTLY LOST MOMENTUM ON A BROAD FRONT. This is manifested by a downturn in leading indicators, for example those that measure business optimism and commodity prices. In recent weeks the euro zone crisis has deepened, although the new election outcome in Greece has created some breathing space. The American economy is continuing to move sideways at close to trend growth, but the latest labour market slowdown is cause for concern. Meanwhile important emerging market (EM) economies have shown clear decelerating tendencies.
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SEB Economic Research