Macro Intelligence · Monthly board

2012-11

Month-to-date · weeklies accrete · the monthly synthesis locks at close

← 2012-10daily glanceweekly archive →2012-12 →
PROVISIONAL · 4 of 4 weeks in

2012-11 — month-to-date

(thesis pending synthesis)

what moved this month → daily glance

Audit trail — detail tables
📊 Data verdicts · 4 week(s) in period · deterministic, no narration

Standing regime — start → end, per bloc

United States
stall-speed, at target · held all period
China
stall-speed, at target · held all period
Euro area
disinflationary stall · held all period
Japan
deflation watch · held all period

Mechanisms fired across the period

United States
no fires
China
  • M5 ×4 growth_acceleration
Euro area
  • M13 ×1 contraction_easing
Japan
no fires

Net indicator moves (first refreshed value → last)

United States
  • core_cpi: 0.13 → 0.20 +0.07 (2012-11-01 → 2012-11-15)
  • cpi_yoy: 1.80 → 2.20 +0.40 (2012-11-01 → 2012-11-14)
  • pmi_svc: 55.10 → 54.20 -0.90 (2012-10-03 → 2012-11-05)
  • policy_rate: 0.25 → 0.25 0.00 (2012-11-04 → 2012-11-25)
  • slope_2s10s: 1.47 → 1.41 -0.06 (2012-11-02 → 2012-11-23)
  • yield_10y: 1.75 → 1.70 -0.05 (2012-11-02 → 2012-11-23)
  • yield_2y: 0.28 → 0.29 +0.01 (2012-11-02 → 2012-11-23)
China
  • cpi_yoy: 1.90 → 1.70 -0.20 (2012-10-15 → 2012-11-09)
  • slope_2s10s: 0.51 → 0.55 +0.04 (2012-11-02 → 2012-11-23)
  • yield_10y: 3.59 → 3.54 -0.04 (2012-11-02 → 2012-11-23)
  • yield_2y: 3.08 → 2.99 -0.08 (2012-11-02 → 2012-11-23)
Euro area
  • cpi_yoy: 2.50 → 2.50 0.00 (2012-10-31 → 2012-11-15)
  • pmi_mfg: 45.40 → 46.20 +0.80 (2012-11-02 → 2012-11-22)
  • pmi_svc: 46.20 → 45.70 -0.50 (2012-10-24 → 2012-11-22)
  • policy_rate: 0.75 → 0.75 0.00 (2012-10-04 → 2012-11-08)
Japan
  • core_cpi: -0.60 → -0.50 +0.10 (2012-10-26 → 2012-11-25)
  • cpi_yoy: -0.30 → -0.40 -0.10 (2012-10-26 → 2012-11-25)
  • policy_rate: 0.10 → 0.10 0.00 (2012-10-30 → 2012-11-20)

Busiest week: 2012-W47 (2 active mechanisms) · Quietest: 2012-W44 (1 active)

Headline — where each bloc stands

Regime scatters — connected over time · connected scatter / Gapminder

Per bloc: the path over recent periods; filled dot = this period, arrow from the prior. First is the growth×inflation map with named, shaded quadrants.

Animated regime map — growth × inflation over time · Gapminder motion

Indicators — pick a metric, compare blocs · recession shading + crosshair

One pane; switch the metric, all blocs overlaid on a comparable basis (GDP shown YoY for every bloc). Grey bands = US GDP-contraction quarters. Hover for a readout.

Per-region breakdown — 2012-11 vs 2012-10, with trend

Change views — table-lens & slope · Datawrapper

A Table-lens — color = change · sparkline = trend · text = dated value
B Slope — prior → now per bloc, one panel per metric

Whole-board snapshot — parallel coordinates · parallel coordinates

Each bloc crosses all metric axes (min–max normalized across blocs for 2012-11).

The month's arc

(arc pending)

Month-ahead scenarios

(scenarios pending)

What to watch

(pending)

2012-W44

● 1 mechanism(s) firedOpen the full in-depth weekly →

Mechanisms fired: M5_growth_acceleration

United States
stall-speed, at target
stall · at target · on hold
Growth hovering near flat with inflation roughly at target. A balanced, low-conviction regime — direction depends on which way growth breaks next; watch PMI for the tell.
○ no change
China
stall-speed, at target
stall · at target · on hold
Growth hovering near flat with inflation roughly at target. A balanced, low-conviction regime — direction depends on which way growth breaks next; watch PMI for the tell.
● 1 active
Euro area
disinflationary stall
contraction · at target · on hold
Sub-trend growth with low, easing inflation. Duration and quality tend to lead; cyclicals lag until growth re-accelerates. Policy easing is the usual circuit-breaker.
○ no change
Japan
deflation watch
unknown · deflation risk · on hold
Activity is soft and inflation is at/below zero — the risk is entrenched deflation. Favors duration (long bonds) and quality; cyclicals struggle until policy eases decisively. The catalyst to watch is stimulus / a policy cut.
○ no change

2012-W45

● 1 mechanism(s) firedOpen the full in-depth weekly →

Mechanisms fired: M5_growth_acceleration

United States
stall-speed, at target
stall · at target · on hold
Growth hovering near flat with inflation roughly at target. A balanced, low-conviction regime — direction depends on which way growth breaks next; watch PMI for the tell.
○ no change
China
stall-speed, at target
stall · at target · on hold
Growth hovering near flat with inflation roughly at target. A balanced, low-conviction regime — direction depends on which way growth breaks next; watch PMI for the tell.
● 1 active
Euro area ⚠ stale
disinflationary stall
contraction · at target · on hold
Sub-trend growth with low, easing inflation. Duration and quality tend to lead; cyclicals lag until growth re-accelerates. Policy easing is the usual circuit-breaker.
○ no change
Japan ⚠ stale
deflation watch
unknown · deflation risk · on hold
Activity is soft and inflation is at/below zero — the risk is entrenched deflation. Favors duration (long bonds) and quality; cyclicals struggle until policy eases decisively. The catalyst to watch is stimulus / a policy cut.
○ no change

2012-W46

● 1 mechanism(s) firedOpen the full in-depth weekly →

Mechanisms fired: M5_growth_acceleration

United States
stall-speed, at target
stall · at target · on hold
Growth hovering near flat with inflation roughly at target. A balanced, low-conviction regime — direction depends on which way growth breaks next; watch PMI for the tell.
○ no change
China
stall-speed, at target
stall · at target · on hold
Growth hovering near flat with inflation roughly at target. A balanced, low-conviction regime — direction depends on which way growth breaks next; watch PMI for the tell.
● 1 active
Euro area ⚠ stale
disinflationary stall
contraction · at target · on hold
Sub-trend growth with low, easing inflation. Duration and quality tend to lead; cyclicals lag until growth re-accelerates. Policy easing is the usual circuit-breaker.
○ no change
Japan ⚠ stale
deflation watch
unknown · deflation risk · on hold
Activity is soft and inflation is at/below zero — the risk is entrenched deflation. Favors duration (long bonds) and quality; cyclicals struggle until policy eases decisively. The catalyst to watch is stimulus / a policy cut.
○ no change

2012-W47

● 2 mechanism(s) firedOpen the full in-depth weekly →

Mechanisms fired: M13_contraction_easing, M5_growth_acceleration

United States
stall-speed, at target
stall · at target · on hold
Growth hovering near flat with inflation roughly at target. A balanced, low-conviction regime — direction depends on which way growth breaks next; watch PMI for the tell.
○ no change
China
stall-speed, at target
stall · at target · on hold
Growth hovering near flat with inflation roughly at target. A balanced, low-conviction regime — direction depends on which way growth breaks next; watch PMI for the tell.
● 1 active
Euro area ⚠ stale
disinflationary stall
contraction · at target · on hold
Sub-trend growth with low, easing inflation. Duration and quality tend to lead; cyclicals lag until growth re-accelerates. Policy easing is the usual circuit-breaker.
● 1 active
Japan ⚠ stale
deflation watch
unknown · deflation risk · on hold
Activity is soft and inflation is at/below zero — the risk is entrenched deflation. Favors duration (long bonds) and quality; cyclicals struggle until policy eases decisively. The catalyst to watch is stimulus / a policy cut.
○ no change