According to our proprietary interest rate-sensitive indicators, activity in advanced economies has so far proven remarkably resilient to higher interest rates. A lot of this has been due to a rebound in auto sales related to pandemic distortions, whereas housing activity has weakened significantly. But with the bulk of the effects from tightening yet to feed through, we still think activity will fall soon.
We have updated our CE Interest Rate-Sensitive Activity Dashboard, where the underlying data is available to CE Advance Clients.
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