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
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 — 2023-02 vs 2023-01, 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
Contracting activity *and* above-target inflation — the hardest mix: the central bank can't ease freely. Real assets, energy and value tend to hold up better than long-duration growth and bonds.
● 3 active
China
expansion, at target
expansion · at target · on hold
Solid growth with inflation near target. Constructive for risk assets broadly; the watch-item is whether inflation starts to push above target and shifts policy.
● 1 active
Euro area
overheating / late-cycle
stall · above target · tightening
Above-trend growth with above-target inflation. Late-cycle: cyclicals and inflation beneficiaries can still run, but the central bank is biased to tighten, so duration and high-multiple growth are exposed.
● 2 active
Japan
overheating / late-cycle
unknown · above target · on hold
Above-trend growth with above-target inflation. Late-cycle: cyclicals and inflation beneficiaries can still run, but the central bank is biased to tighten, so duration and high-multiple growth are exposed.
Contracting activity *and* above-target inflation — the hardest mix: the central bank can't ease freely. Real assets, energy and value tend to hold up better than long-duration growth and bonds.
● 2 active
China
expansion, at target
expansion · at target · on hold
Solid growth with inflation near target. Constructive for risk assets broadly; the watch-item is whether inflation starts to push above target and shifts policy.
● 1 active
Euro area ⚠ stale
overheating / late-cycle
stall · above target · tightening
Above-trend growth with above-target inflation. Late-cycle: cyclicals and inflation beneficiaries can still run, but the central bank is biased to tighten, so duration and high-multiple growth are exposed.
● 2 active
Japan ⚠ stale
overheating / late-cycle
unknown · above target · on hold
Above-trend growth with above-target inflation. Late-cycle: cyclicals and inflation beneficiaries can still run, but the central bank is biased to tighten, so duration and high-multiple growth are exposed.
Contracting activity *and* above-target inflation — the hardest mix: the central bank can't ease freely. Real assets, energy and value tend to hold up better than long-duration growth and bonds.
● 2 active
China
expansion, at target
expansion · at target · on hold
Solid growth with inflation near target. Constructive for risk assets broadly; the watch-item is whether inflation starts to push above target and shifts policy.
● 1 active
Euro area ⚠ stale
overheating / late-cycle
stall · above target · tightening
Above-trend growth with above-target inflation. Late-cycle: cyclicals and inflation beneficiaries can still run, but the central bank is biased to tighten, so duration and high-multiple growth are exposed.
● 2 active
Japan ⚠ stale
overheating / late-cycle
unknown · above target · on hold
Above-trend growth with above-target inflation. Late-cycle: cyclicals and inflation beneficiaries can still run, but the central bank is biased to tighten, so duration and high-multiple growth are exposed.
Contracting activity *and* above-target inflation — the hardest mix: the central bank can't ease freely. Real assets, energy and value tend to hold up better than long-duration growth and bonds.
● 2 active
China
expansion, at target
expansion · at target · on hold
Solid growth with inflation near target. Constructive for risk assets broadly; the watch-item is whether inflation starts to push above target and shifts policy.
● 1 active
Euro area ⚠ stale
overheating / late-cycle
stall · above target · tightening
Above-trend growth with above-target inflation. Late-cycle: cyclicals and inflation beneficiaries can still run, but the central bank is biased to tighten, so duration and high-multiple growth are exposed.
● 2 active
Japan ⚠ stale
overheating / late-cycle
unknown · above target · on hold
Above-trend growth with above-target inflation. Late-cycle: cyclicals and inflation beneficiaries can still run, but the central bank is biased to tighten, so duration and high-multiple growth are exposed.