Global economic growth slowed late in 2011, but that has not developed into a major downturn and a number of indicators suggest that, outside of Europe, conditions have stabilised over recent months. The US economy has continued to expand at a moderate pace over the year to date and there are tentative signs that activity in east Asia is continuing to pick up after the effects of the natural disasters of 2011. Growth has slowed to a more sustainable pace in China, largely reflecting the effect of tighter domestic policies, which has helped to ease inflationary pressures. Nonetheless, the Chinese economy still grew by ... (full story)