Charting the Global Economy: Draghi’s Exit, Cautious Corporates

(Bloomberg) --

European Central Bank chief Mario Draghi wrapped up the final policy meeting of his career with a gloomy assessment of the Continent’s prospects and U.S. corporate investment suffered another setback at the end of the third quarter. Meanwhile, swine fever threatens to fatten China’s inflation figures and drag monetary policy making through the slop.

Following are some of the top charts that appeared on the Bloomberg terminal and Bloomberg.com this week. The scope of this weekly series, grouped by region, is a graphical depiction of an evolving world economy. Chart selection is based on financial market and national economy relevance, shifts in demographics and geopolitical events.

Europe

Three words -- whatever it takes -- defined Draghi’s time as ECB president, but he’s prouder of another number: 11 million jobs.

Britain is still struggling to figure out its split with the European Union, but the economic fallout is evident: While companies in other Group of Seven countries have taken advantage of low borrowing costs over the past 3 1/2 years, U.K. firms have been paralyzed by concern of a no-deal Brexit.

U.S.

Sluggish global growth, the trade war and corporate emphasis on shareholder value indicate investment will remain the U.S. economy’s weak link for the remainder of the year. Consumer spending and the recent pickup in housing are seen propping up growth in the meantime.

There’s never been a better time to spend: A gauge of buying conditions in the U.S. advanced last week to a fresh high in records back to 1985.

Asia

China’s monthly consumer inflation could hit 4% by early 2020 on the back of surging pork prices, complicating the central bank’s efforts to support the economy further.

Emerging Markets

Saudi Arabia is racing against a demographic clock, unable to find employment for increasing numbers of its citizens -- especially young people.

World

Throwing most of the world’s economies onto a chart with inequality on one axis and government effectiveness on the other shows that the current trouble spots -- Hong Kong, Chile, Lebanon -- are by no means the worst performers when it comes to reasons to riot.

Where will global growth come from in five years? Bloomberg used International Monetary Fund projections, adjusted for purchasing power parity, to identify the growth engines.

--With assistance from Sarah Algethami, Wei Lu, Fergal O'Brien, Abeer Abu Omar, Jana Randow, Alex Tanzi, Yinan Zhao, Dan Hanson (Economist) and Tom Orlik (Economist).

To contact the reporters on this story: Vince Golle in Washington at vgolle@bloomberg.net;Zoe Schneeweiss in London at zschneeweiss@bloomberg.net

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Vince Golle, Zoe Schneeweiss

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