“Synchronised upswing” has been a phrase repeatedly used to describe what’s been happening the global economy over recent months.
Whether it’s in the manufacturing surveys or global trade data, or looking at Europe, Japan, or the US, there are a range of indications that the world’s economy has been strengthening.
Inflation remains soft but central banks have been changing their tune, and the past quarter has seen a decisive shift in the monetary policy outlook globally.
Australia hasn’t followed, however, with persistently weak inflationary pressures and very high levels of household debt keeping the Reserve Bank of Australia somewhat more cautious. And markets have continued to grind higher, despite the geopolitical instability stemming from North Korea’s missile program.
JPMorgan provides a guide to help make sense of it all in this presentation, which looks in detail at some of the key economic indicators for Australia before reviewing the global picture.
Thanks to JPMorgan Asset Management Australia for giving us permission to feature this presentation.