No Free Lunch

The global economy remains in a delicate position, with financial markets exhibiting resilience despite key policy uncertainties, geopolitical sensitivities, and a fragile pace of economic growth across many regions. In our charts this week we focus on:

·       US growth surprises

·       US trade in goods versus services

·       Global policy uncertainty and the dollar

·       Defence spending in Europe

·       Dun and Bradstreet’s risk indicators

·       Canada’s supply side risks