Regular readers of this blog will know that it contains monthly reports on the state of global economic activity, using Fulcrum nowcasts for all of the major economies. (See the latest nowcast report.)
This week we introduce a new regular report on global inflation, equivalent to the activity nowcasts, using new models estimated by my colleagues Alberto D’Onofrio and Juan Antolin Diaz. Together, these two regular reports will provide readers with comprehensive up-to-date coverage of the state of real output growth and inflation in the major economies, and the world as a whole.
The April activity nowcasts confirm the early indications of slowing noted last month. Manufacturing sectors have led the slowdown, but consumer sectors have also moderated as higher oil prices squeezed real incomes in the first quarter of 2018.