Although we are still in the process of analyzing the results of only the second wave of this survey, we can see that we have the raw material that can help us answer a number of questions. How does wealth feed into consumption behavior?
While the Fund has forecast very modest positive growth at the global level for next year, the recovery may be rather gradual. On the other hand, global inflationary pressures have moderated significantly since the middle of last year. The euro area headline rate was 4 per cent as recently as last July but has now fallen to below 1 per cent.