Charting the global economy: Fed pulls expected liftoff date


The Federal Reserve pushed back its expected date when central bankers would begin raising the US benchmark interest rate, raising optimism about the labor market and inflation concerns.

Growth expectations for Italy and the rest of Europe are improving amid a reopening and more vaccinations against COVID-19. In China, the economic recovery appears to be stabilizing, with a shift towards consumer-driven demand.

Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:

America

Fed's new dot plot

fed official Optimism about the labor market and rising concerns for inflation accelerated their expected pace of tightening policy. His forecasts showed he forecast two interest rate hikes by the end of 2023 – sooner than was thought – and he upgraded inflation projections for the next three years.

Europe

delay in full reopening

UK GDP still expected to regain its pre-virus levels in the last quarter of this year

Source: Bloomberg Economics, ONS


A delay in the lifting of all restrictions on public life in England is unlikely to lead to a speedy recovery this year, with Bloomberg Economic predicting that the UK economy will still regain its position. Pre-virus levels in the last quarter of 2021.

italian optimism

The government is said to see a growth of over 5% this year

Source: Bloomberg


Italy’s economy may grow More than 5% this year, according to two government officials – faster than the latest predictions by the central bank, the OECD and the European Commission.

Asia

retail slump continues

China’s industrial production is also growing at a slightly weaker pace.

Source: National Bureau of Statistics, Bloomberg Survey


China’s economy stagnant for second month, a sign that post-pandemic recovery is high Steady phase and that growth is slowly being rebalanced towards the consumer.

surprise injection

A gauge of cash injection by China’s central bank jumped in May

Source: People’s Bank of China




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