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Disconcerting political developments in the United States and the United Kingdom might lead one to conclude that an already challenged world economy will struggle even more in the near term. But as we continue into 2017, the (1) evidence actually suggests otherwise.
Since my days as Chief Economist at Goldman Sachs, I have kept an eye on six indicators from around the world that, taken together, provide (2) snapshot of what the global economy will look like for the next six months. Right now, all six indicators show more promise than they have for some time, and only one of them has fallen (3) a recent high.
The first indicator is weekly unemployment claims in the US, from which one can gauge the overall strength of the US economy. Economists are rightly trained to treat unemployment as a lagging indicator, but these data can also be useful in forecasting the near future. US jobless claims are always up to date, because they are produced weekly, and statistical evidence suggests that they are a leading indicator for US equity prices. As of last week, jobless claims remained rather low, as they have for some time, which (4) for US stock markets.
Similarly, the Institute for Supply Management Manufacturing Index provides a pretty good (5) the US economy for the next 3-6 months, even though manufacturing comprises a relatively small share of GDP. Like the latest jobless claims, the ISM’s numbers are currently giving cause for optimism.
A third indicator is a subcomponent of the same ISM survey: manufacturers’ new orders and (6) . Currently, new orders are increasing and inventories are low, which suggests that businesses will have to produce more in the coming months (7) those orders.
Looking (8) US, a fourth indicator is the ratio of Chinese retail spending relative to industrial production (adjusted for inflation). These figures give us a glimpse of both cyclical trends and China’s structural (9) away from exports and toward domestic consumption. This will arguably be one of the most important indicators for both China and the rest of the global economy for (10) come.
- 1) cyclical
2) portion
3) aperiodic
4) allocate
5) oscillatoryAnswer – 1)
Explanation : cyclical - 1) to muddy
2) from evanish
3) of deceptive
4) a reliable
5) the tarnishAnswer – 4)
Explanation : a reliable - 1) frigid of
2) bleak for
3) slightly from
4) Siberian to
5) benumbed ofAnswer – 3)
Explanation : slightly from - 1) bodes well
2) hurry will
3) regression can
4) stagnation could
5) move mayAnswer – 1)
Explanation : bodes well - 1) sideswipe to
2) evaluation for
3) appraisal of
4) preview of
5) assessment forAnswer – 4)
Explanation : preview of - 1) inventories
2) enlarge
3) cyclic
4) lengthen
5) expandAnswer – 1)
Explanation : inventories - 1) to satisfy
2) for getting
3) from upset
4) of discontent
5) to disappointAnswer – 1)
Explanation : to satisfy - 1) among the
2) above all
3) beyond the
4) beneath the
5) under theAnswer – 3)
Explanation : beyond the - 1) contesting
2) rivalry
3) engageds
4) rebalancing
5) trialsAnswer – 2)
Explanation : rebalancing - 1) times for
2) days of
3) years of
4) years to
5) events ofAnswer – 4)
Explanation : years to
