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World growth may be peaking - but it's not collapsing

​There has been considerable discussion of late about whether the global expansion is running out of steam, following a number of soft-looking data releases in the major economies. Using our in-house leading indicators (launched in February), we find some evidence of a loss of momentum in the world economy and a less synchronised pattern of global growth. The loss of growth momentum looks especially marked in Canada, South Korea, the UK and parts of the Eurozone. However, even with some flattening off of growth rates, the world economy is still expanding at a decent pace and it is too soon to be talking about significant recession risks.

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