Economics: Top 2022 charts: a halftime report
China’s zero-Covid policy and supply-side stress…
At the end of last year we selected 22 charts to track several major themes that could dictate how 2022 would pan out. Here we update the top-10 charts from that report, focusing on those where there has been a change in the dynamics.
… the impact on the business cycle and monetary conditions…
Supply-side disruptions continue to be a major theme, and China’s zero-Covid policy may keep them front-of-mind for a while longer. This has been a challenge for the business cycle and for monetary policymakers, our next two areas of focus.
… labour market tightness, peaking housing market, & EM stress
We’re starting to see signs of an impact from tighter monetary policy in labour markets and housing. While emerging market central banks must navigate a contraction in Chinese GDP and another surge higher in global food prices.