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A quarterly publication setting out the Crédit Agricole scenario for the economy, interest rates and currencies in the main economic regions, ie, the Americas, Europe and Asia.
The market will be channelling several trends over the coming months and we need to try and understand what the overall trend will look like. In the growth arena, an upside trend can be seen in each of the world economy's four largest regions. But visibility on the growth rates to be achieved over the coming quarters is poor. The first factor raises hopes that a virtuous circle will develop, each region driving the others on.
The markets are sounding more optimistic. On the one hand they are attaching meaning to a series of economic numbers, above all coming out of Europe and China, suggesting a certain revival on the confidence front, and even on that of growth. They are also looking at the economic scenarios for 2013 and note an uptick in growth - a measured one, of course - in the second part of the year.
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