The world economy’s resilience over the last few months has surprised many forecasters but the incoming data from Europe coupled with a further climb in the price of oil suggest that downside risks are accumulating. In our latest charts of the week publication we dig into this with some perspectives on:

·       Recent global business surveys

·       Credit impulses in the US and euro area

·       Oil prices and inflation surprises

·       Manufacturing capacity pressures and inflation

·       Risk assets and data surprises

·       Productivity and demographics