The level of global PMI is consistent with 6 per cent plus growth in global industrial production. |
The national reports give a message of well-balanced growth with good momentum heading into the second quarter. |
Tight labor market, acceleration in wages -- it's a description of an economy that's simmering, but it hasn't boiled over yet into inflation. |
We marked up forecasts for the euro area and Japan. It's just a sense that these economies, especially the euro area, are on a stronger growth path. |