Global Economic Research

GLOBAL DATA WATCH

Less growth, less fear: 2008-05-02

Since the credit crisis began last summer, our views have been expressed with an unusually low level of conviction. As the crisis widened and intensified, uncertainties about the macroeconomic outlook greatly increased. Today, uncertainty remains high, but recent developments-including policy actions, financial market moves, and economic indicators-have increased our conviction about the path the global economy will follow for the rest of this year. Global growth is likely to soften broadly, producing the first significant phase of sub-par global performance since early 2003. At the same time, fears will likely fade that financial stresses will derail the global expansion or produce a deep US recession.

NOTES AND SPECIAL REPORTS

Australian house prices pushed north by undersupply	2008-05-02
Global IP slowdown coming to an EM country near you	2008-05-02
Just past half time for US house price declines	2008-05-02
1Q GDP report shows US credit and business tightening	2008-05-02
UK resource use is already back to normal levels	2008-05-02
Korea’s BoP to stay soft, but getting some temporary help	2008-05-02
Argentina’s funding plan: angel in the details, devil outside	2008-05-02
Smoothing out the US growth forecast	2008-04-25
ECB still likely to ease, but not until later in the year	2008-04-25
BoJ’s outlook report likely to signal a long rate pause	2008-04-25
Data Watch: Summary Outlook	2008-05-02
Regional Data Calendars	2008-05-02

DATA WATCH BY COUNTRY/REGION

DAILY ECONOMIC BRIEFING

May 7, 2008	2008-05-07
May 6, 2008	2008-05-06
May 5, 2008	2008-05-05
May 1, 2008	2008-05-01
April 30, 2008	2008-04-30

Note: Global Data Watch is updated every Wednesday. Daily Economic Briefing is updated with a 1-day delay and is not published on Fridays.