Data discoveries of the week, presented in charts. This week we look data about global trust in AI, India leading the diamond production in the world, US 30-year mortgage rates, oil saved by electric vehicles and more.
- ?? India continues to be the sunshine spot in the global economic outlook.
As per IMF's April 2023 World Economic Outlook, the baseline forecast predicts a decline in global ?growth from 3.4% in '22 to 2.8% in '23, with stabilization at 3.0% in '24.
India ?? leads the country-wise growth projections of large economies ?#ChartOfTheDay #data #GDP pic.twitter.com/zpPuyPfErO
— Kuvera (@Kuvera_In) May 18, 2023
2. How much do countries trust AI? This survey reveals ?
An interesting survey reveals that emerging countries have higher trust in AI than high-income countries??
How will AI impact our economy? Let us know what you think. #ArtificialIntelligence #chartoftheday pic.twitter.com/mOU7CtRFWw
— Kuvera (@Kuvera_In) May 15, 2023
3. ? 9 in 10 pieces of diamonds sold in the world are produced in India.
India is the world's largest exporter and importer of diamonds, accounting for more than 90% of global production with $26.3 billion in exports and $26 billion in imports.#diamond #import #export #chartoftheday pic.twitter.com/elQMyoP8DO
— Kuvera (@Kuvera_In) May 19, 2023
4. Share of government health expenditure and out-of-pocket health expenses in total health expenditure.
Health shocks are a big reason why Indian families fall back into poverty. The declining share of out-of-pocket expenses – and rising share of govt health expenditure, social security spending and private health insurance – is welcome.
Source: National Health Accounts 2019-20 pic.twitter.com/W4ednAg4R8
— Niranjan Rajadhyaksha (@CafeEconomics) April 26, 2023
5. The UK ?? is not happy ?
Do you feel less happy?
Happiness levels have failed to return to their pre-pandemic norm in the UK, particularly among younger people as the blow of Covid-19 is compounded by the cost of living crisis https://t.co/DXcZlZR58F pic.twitter.com/YOKKCewedQ
— Financial Times (@FinancialTimes) May 17, 2023
6. A history of US 30-year mortgage rates.
Average 30-Year Mortgage Rate in the US…
1970s: 8.9%
1980s: 12.7%
1990s: 8.1%
2000s: 6.3%
2010s: 4.1%
2020s: 4.1%
—
All-Time Low (Jan 2021): 2.65%
Today’s Rate: 6.39% pic.twitter.com/1bnfADlIPM— Charlie Bilello (@charliebilello) May 19, 2023
7. Real interest rates of countries.
Visualized: Real Interest Rates by Country ?https://t.co/F7n4IzSjDr pic.twitter.com/7PzmuCkV5I
— Elements (@VCElements) May 16, 2023
8. Creditworthiness of FAANG vs US
FAANG more “creditworthy” than USA:
US default risk perceptions so high that FAANG have lower CDS (credit default swaps) spreads.✔️ US Govt 5-yr is 67bp
✔️ $AAPL 5-yr is 27bp
✔️ $GOOG is 41bp
✔️ $MSFT is 45bpDoesn’t this strengthen the case to be long #FAANG? @fundstrat
— FS Insight (@fs_insight) May 17, 2023
9. The evergrowing demand for ?? US H1B visas vs the available slots.
US executives have called for a loosening of immigration rules to fill manufacturing jobs. https://t.co/sfApPg3Woc pic.twitter.com/u88AK3bLXE
— Financial Times (@FinancialTimes) May 16, 2023
10. US Building Permits are down 30% from their peak.
Building Permits are one of the indicators in our US #Recession Monitor. They are down nearly 30% from their peak. pic.twitter.com/VzBsqNDfRR
— jeroen blokland (@jsblokland) May 17, 2023
11. Is the US at a point where rising debt levels will halt rate hikes by the Fed?
With interest rates rising since 2021, the share of the government’s budget that is taken up by debt service has risen as well. There is a limit to how far rates can rise when debt levels are excessive, and perhaps we are nearing that point now in the Fed cycle. pic.twitter.com/A06C3EI5w8
— Jurrien Timmer (@TimmerFidelity) May 18, 2023
12. Ghana used to be a model country for Africa’s economic development. Until overspending ensured it wasn’t.
Ghana has long been considered a success story and a model for African development. But now that reputation lies in ruins due to overspending while debt was cheap https://t.co/vWqSS8QNOB pic.twitter.com/kRMlunuehA
— Financial Times (@FinancialTimes) May 15, 2023
13. Most Bank of Amercia fund managers say they are underweight US equities.
BofA Fund Manager Survey — most respondents say they are underweight US equities pic.twitter.com/nkqZywhIfP
— Callum Thomas (@Callum_Thomas) May 16, 2023
14. Story of Brazil’s ?? trade surplus powered by agri exports.
This is Brazil. A transformation into a huge trade surplus country powered by agricultural exports (lhs, orange) going to China (rhs, red). If the West wants to pry Brazil from the "Global South," it's got to put its money where its mouth is and stop protecting its own farmers… pic.twitter.com/BMhv6FxuFf
— Robin Brooks (@RobinBrooksIIF) May 18, 2023
15. How much oil ?️ do electric ⚡ vehicles save?
As the world moves towards the electrification of the transportation sector, demand for oil will be replaced by demand for electricity ⚡️
This graphic shows how much oil has been and will be saved every day between 2015 and 2025.https://t.co/htLnoDeBEj pic.twitter.com/6w3h8WSjnx
— Elements (@VCElements) May 15, 2023
16. As Turkey ?? busied itself with national elections, its Forex reserves fell to critical levels.
As the FT has reported, there was a really sharp decline in Turkey's reserves last week.
Gross reserves, net of the impossible to use (without a lot more help from the GCC) Emirati and Qatari swaps are approaching critical levels.
1/3 pic.twitter.com/BtmX4vxcr6
— Brad Setser (@Brad_Setser) May 18, 2023
17. If you look at the Empire Fed Index, S&P 500 EPS won’t look good going ahead.
I don't use the Empire Fed Index much as it is VERY volatile. If you smooth it some it can provide insight. This is especially true for S&P 500 EPS. Today's data point was bad. Even using a six month moving average we don't see numbers like these often outside of deep recessions. pic.twitter.com/1yDPXKVnKd
— Francois Trahan (@FrancoisTrahan) May 15, 2023
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