Growth has accelerated in a number of global regions, but . . . - ANZ

Analysts at ANZ explained that the one theme that has continued to support market sentiment over recent months (notwithstanding the odd bout of volatility of course) is that the global economy has been in a solid and synchronised upswing.

Key Quotes:

"Growth has accelerated in a number of regions. However, with recent PMI figures rolling over a little in Europe (off high levels) and the latest US retail sales figures weak (perhaps pointing to consumption fatigue at a time when saving rates have deteriorated), we need to be mindful to the possibility that the cycle is perhaps looking tired.

For markets, upside inflation surprises will no doubt present challenges going forward. But if joined by a more mixed growth picture, that would be a double-whammy."

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