A Fed easing narrative has been re-energized over the past few days largely thanks to a slightly weaker than expected US CPI report this week but, more generally, because of a battery of weaker-than-expected US data over the past couple of weeks. In our charts this week we examine the following:

·       Consensus growth expectations for 2024

·       GDP growth in advanced economies in  Q1

·       The German economy’s under-performance

·       A slowing UK labour market

·       US immigration

·       Global food price inflation