Charting the Global Economy: Bouncing Back But Long Road Ahead

The global economy is getting back on the road to growth, though returning to pre-pandemic levels of activity will be a longer journey.

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

World

Charting the Global Economy: Bouncing Back But Long Road Ahead

Bloomberg Economics’ GDP tracker suggests the global recovery continued apace in August, yet there are doubts whether the sanguine picture will persist moving into the fall.

U.S.

Charting the Global Economy: Bouncing Back But Long Road Ahead

Consumer prices rose for a third month in August, driven by the sharpest gain in used-vehicle costs since 1969 and consistent with a gradual pickup in inflation as the economy recovers from the pandemic-induced downturn. The core consumer price index, which excludes more volatile food and fuel costs, rose a larger-than-forecast 0.4%.

Charting the Global Economy: Bouncing Back But Long Road Ahead

Confidence is building among America’s small-business owners, though uncertainty remains, according to the latest data from the National Federation of Independent Business. The group’s index of sentiment increased more than forecast in August, though its gauge of uncertainty was the second-highest since 2017.

Europe

Charting the Global Economy: Bouncing Back But Long Road Ahead

Britain recorded strong economic growth in July as coronavirus restrictions eased, but mounting job losses and the risk of a messy Brexit are threatening a turbulent end to the year.

Charting the Global Economy: Bouncing Back But Long Road Ahead

Five years after German Chancellor Angela Merkel’s historic pledge to welcome refugees, the pandemic shock is dealing a fresh blow to those migrants granted asylum.

Asia

Charting the Global Economy: Bouncing Back But Long Road Ahead

China’s exports continued to expand due to demand for medical goods, electronics and the effects of major trading partners gradually resuming business activities.

Charting the Global Economy: Bouncing Back But Long Road Ahead

Japan’s economy won’t return to its pre-pandemic size without structural reforms needed to boost productivity and counter the impact of a shrinking population, according to Bloomberg Economics.

Emerging Markets

Charting the Global Economy: Bouncing Back But Long Road Ahead

Nowhere in Latin America has inflation accelerated so much since the pandemic hit as in Mexico, where supply chain problems and a weaker currency are offsetting the price impact of plunging consumption.

Charting the Global Economy: Bouncing Back But Long Road Ahead

Three different governmental bodies in Israel publish data on joblessness. Their estimates vary so widely that it’s “not possible” to know the true level of unemployment and decide how to remedy the situation, according to a report from the State Comptroller and Ombudsman’s office.

©2020 Bloomberg L.P.

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