LEIs steady, incoming data marginally worse - Feb. G3 Leading Indicator Watch
- US: Leading indicators are steady overall, but incoming data have worsened relative to a month ago. On balance, dissaving from the government and household sectors, along with a pick up in AI-driven capex, are supportive of growth.
- China: Growth and liquidity have worsened, even as the structural weakness in the housing and consumer sectors persist.
- Eurozone: Growth leading indicators are recovering, but structural headwinds suggest the balance of risks for EUR is still to the downside.
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