A major earthquake in Japan's manufacturing region is certain to lower the economy's near-term performance following what was negative fourth-quarter GDP. The outlook for Europe, Brexit aside, is less ominous with slow but steady growth expected to continue, getting a boost by increased lending tied to ECB liquidity actions. A slow outlook is also the call for the U.S. where, despite favorable weather, growth has been soft, specifically spending by consumers who are not getting much of a lift from wages.