If emerging markets are to lead global economic performance one again as they did in recent years, an important foundation will be to convince as many people as possible that reported growth data are as accurate as they can possibly be.
Once one of the hardest-hit economies in Europe from the global financial crisis, Spain’s recent economic success sets a good precedent for the euro zone’s potential for recovery. But political machinations on the horizon could put the progress it has made at risk.
That the European Central Bank will have to soon add to its massive stimulus programme is fast becoming the consensus view among economists, although how it will do that effectively is far from clear.
For all its single-minded focus on lowering inflation, India’s central bank may be forced to acknowledge slowing growth in Asia’s third largest economy by cutting interest rates — probably faster than it expected.
South Africa’s second quarter growth undershot economists’ expectations in spectacular fashion on Tuesday, a clear signal emerging markets face torrid times.
Greece’s European lenders have played down hopes of a swift end to aid negotiations and said talks must speed up before the country runs out of cash. That contrasted sharply with optimism in Athens where a series of top officials asserted that a deal was just days away.