Growth is one of the most important drivers of asset returns. An accurate and timely read of unfolding conditions is critical to investment success. The Augur Labs Timely Underlying Growth Nowcast is an alternative, big-data-driven measure of economic activities; it uncovers the true underlying strength of the economy in a timely fashion.

Global Growth Nowcast as of 5/31/2023
Underlying Growth 1m Change 3m Change 1m History
World 2.7% -0.4% -0.5% 3.107, 3.132, 3.356, 3.358, 3.321, 3.337, 3.371, 3.34, 3.324, 3.182, 3.168, 3.233, 3.182, 3.041, 3.013, 3.005, 2.982, 2.928, 2.946, 2.986, 2.702
Developed World 0.7% -0.5% -0.4% 1.16, 1.146, 1.35, 1.352, 1.348, 1.336, 1.299, 1.272, 1.222, 1.156, 1.146, 1.367, 1.357, 1.331, 1.262, 1.238, 1.227, 1.117, 1.108, 1.112, 0.731
United States 0.3% -0.4% -0.9% 0.657, 0.611, 1.119, 1.142, 1.129, 1.137, 1.047, 1.004, 0.776, 0.826, 0.801, 1.221, 1.227, 1.259, 1.112, 1.112, 1.245, 1.027, 1.033, 1.041, 0.278
DW ex US 1.1% -0.5% 0.0% 1.531, 1.541, 1.521, 1.506, 1.51, 1.483, 1.486, 1.47, 1.552, 1.4, 1.4, 1.475, 1.453, 1.384, 1.373, 1.332, 1.214, 1.182, 1.163, 1.164, 1.065
Euro Area 0.8% -0.8% -1.0% 1.582, 1.531, 1.415, 1.37, 1.37, 1.307, 1.309, 1.31, 1.31, 1.249, 1.131, 1.12, 1.108, 1.128, 1.103, 1.014, 0.858, 0.757, 0.725, 0.751, 0.757
Core 0.5% -1.2% -1.3% 1.619, 1.38, 1.127, 1.057, 1.057, 1.0, 0.999, 0.999, 0.99, 0.89, 0.937, 0.934, 0.932, 0.902, 0.856, 0.708, 0.456, 0.449, 0.396, 0.48, 0.457
Germany 0.4% -1.7% -1.3% 2.058, 1.577, 1.058, 0.914, 0.913, 0.913, 0.912, 0.911, 0.909, 0.825, 0.82, 0.814, 0.808, 0.75, 0.673, 0.392, 0.279, 0.258, 0.196, 0.393, 0.377
France 0.1% -0.8% -1.8% 0.903, 0.886, 0.906, 0.904, 0.905, 0.775, 0.774, 0.774, 0.771, 0.771, 0.77, 0.769, 0.769, 0.826, 0.803, 0.804, 0.226, 0.239, 0.184, 0.166, 0.139
Netherlands 0.8% -0.5% -0.9% 1.32, 1.32, 1.271, 1.262, 1.259, 1.17, 1.167, 1.165, 1.157, 0.612, 1.068, 1.069, 1.069, 0.965, 0.961, 0.956, 0.952, 0.947, 0.934, 0.829, 0.787
Belgium 2.2% -0.4% 0.5% 2.585, 2.588, 2.554, 2.571, 2.576, 2.535, 2.541, 2.547, 2.454, 2.46, 2.466, 2.472, 2.478, 2.319, 2.317, 2.151, 2.142, 2.133, 2.107, 2.176, 2.17
Periphery 1.3% -0.2% -0.6% 1.518, 1.789, 1.906, 1.902, 1.903, 1.831, 1.836, 1.84, 1.855, 1.859, 1.46, 1.436, 1.407, 1.512, 1.524, 1.534, 1.543, 1.282, 1.284, 1.212, 1.265
Italy -0.3% -0.3% -0.8% 0.106, 0.488, 0.642, 0.681, 0.694, 0.528, 0.543, 0.559, 0.605, 0.621, -0.239, -0.223, -0.207, 0.046, 0.072, 0.097, 0.122, -0.437, -0.425, -0.412, -0.261
Spain 2.5% -0.3% -0.5% 2.872, 2.981, 3.122, 3.105, 3.1, 3.094, 3.089, 3.083, 3.067, 3.061, 3.056, 2.964, 2.859, 2.839, 2.844, 2.839, 2.834, 2.829, 2.814, 2.56, 2.545
Ireland 2.0% 0.6% -0.9% 1.428, 2.164, 2.06, 2.05, 2.011, 2.007, 2.004, 2.001, 1.992, 1.988, 1.985, 1.982, 1.979, 1.923, 1.916, 1.909, 1.901, 1.894, 1.919, 1.912, 1.992
Portugal 3.0% -0.3% 0.6% 3.291, 3.293, 3.277, 3.275, 3.274, 3.333, 3.332, 3.331, 3.329, 3.328, 3.327, 3.326, 3.325, 3.335, 3.334, 3.334, 3.334, 3.334, 3.333, 3.026, 3.011
Greece 3.1% 0.3% 0.1% 3.091, 3.076, 3.201, 2.939, 2.935, 2.987, 2.983, 2.979, 2.966, 2.962, 2.958, 2.954, 2.95, 2.919, 2.915, 2.91, 2.905, 2.9, 2.885, 3.384, 3.094
Japan 2.3% 0.3% 3.7% 1.973, 1.961, 2.233, 2.278, 2.291, 2.306, 2.321, 2.335, 2.38, 2.395, 2.773, 3.236, 3.155, 2.74, 2.841, 2.846, 2.85, 2.855, 2.87, 2.779, 2.269
United Kingdom -0.1% -0.8% -0.6% 0.686, 0.775, 0.803, 0.811, 0.814, 0.817, 0.82, 0.814, 0.822, -0.004, -0.003, -0.002, 0.07, 0.07, -0.064, 0.001, -0.077, -0.083, -0.089, -0.091, -0.093
Canada 2.2% 0.5% -0.6% 1.735, 2.1, 1.965, 1.989, 1.997, 2.096, 2.074, 1.806, 2.98, 2.649, 2.529, 2.576, 2.445, 2.466, 2.45, 2.433, 1.962, 2.349, 2.316, 2.305, 2.193
Australia 1.6% -0.8% -0.3% 2.054, 2.184, 2.178, 2.152, 2.15, 2.148, 2.145, 2.143, 2.136, 1.951, 1.935, 1.729, 1.714, 1.689, 1.675, 1.661, 1.647, 1.612, 1.57, 1.57, 1.565
Switzerland 0.4% -1.1% -1.2% 1.499, 1.443, 1.48, 1.495, 1.218, 1.227, 0.728, 0.729, 0.73, 0.446, 0.422, 0.414, 0.406, 0.398, 0.39, 0.367, 0.359, 0.351, 0.343, 0.335, 0.37
Sweden 0.4% 0.1% 0.5% 0.273, 0.311, 0.292, 0.332, 0.346, 0.238, 0.252, 0.266, 0.309, 0.323, 0.338, 0.352, 0.366, -0.039, -0.045, -0.051, 0.063, 0.132, 0.113, 0.352, 0.355
Norway 1.6% 0.2% 1.3% 1.336, 1.337, 1.451, 1.406, 1.391, 1.376, 1.362, 1.209, 1.088, 1.073, 1.057, 1.042, 1.026, 1.563, 1.574, 1.585, 1.596, 1.492, 1.53, 1.543, 1.555
New Zealand 0.2% 0.5% 0.9% 0.334, 0.247, 0.242, 0.269, 0.305, 0.314, 0.323, 0.273, 0.299, 0.308, 0.317, 0.326, 0.333, 0.256, 0.26, 0.143, 0.148, -0.062, -0.073, -0.077, 0.158
Emerging Markets 4.3% -0.3% -0.6% 4.725, 4.781, 5.022, 5.025, 4.96, 4.998, 5.093, 5.058, 5.069, 4.864, 4.848, 4.783, 4.699, 4.462, 4.467, 4.472, 4.44, 4.432, 4.472, 4.543, 4.339
China 4.3% -1.2% -3.4% 5.57, 5.71, 6.225, 6.24, 6.014, 6.026, 6.115, 6.149, 6.16, 5.631, 5.645, 5.66, 5.704, 5.127, 5.115, 5.103, 5.091, 5.029, 5.017, 5.005, 4.347
EM ex China 4.3% 0.3% 1.2% 4.179, 4.18, 4.245, 4.24, 4.278, 4.334, 4.432, 4.354, 4.365, 4.369, 4.333, 4.215, 4.049, 4.031, 4.049, 4.064, 4.02, 4.046, 4.12, 4.245, 4.334
EM Asia ex China 5.0% 0.4% 0.9% 4.756, 4.771, 4.795, 4.835, 4.871, 4.887, 4.919, 4.798, 4.853, 4.877, 4.842, 4.882, 4.615, 4.516, 4.553, 4.581, 4.634, 4.698, 4.854, 4.887, 4.987
India 6.9% -0.1% 1.1% 7.272, 7.265, 6.712, 6.75, 6.763, 6.775, 6.788, 6.447, 6.551, 6.578, 6.604, 6.63, 6.657, 6.6, 6.621, 6.641, 6.661, 6.681, 6.742, 6.762, 6.863
South Korea 1.6% -0.3% -0.2% 1.906, 1.883, 1.969, 1.966, 1.965, 1.992, 1.99, 1.989, 1.985, 1.984, 1.983, 1.982, 1.981, 1.493, 1.672, 1.777, 1.768, 1.758, 1.73, 1.721, 1.624
Indonesia 5.1% 2.3% 1.5% 2.887, 2.985, 3.793, 4.012, 4.088, 4.104, 4.178, 4.252, 3.974, 4.056, 4.139, 4.221, 4.349, 4.449, 4.523, 4.597, 4.672, 4.746, 4.968, 5.042, 5.116
Taiwan 2.3% 2.4% 0.6% 0.018, 0.119, 0.908, 0.798, 0.922, 1.046, 1.17, 1.294, 1.667, 1.791, 1.915, 2.04, 2.164, 1.313, 1.066, 1.199, 1.332, 1.842, 2.061, 2.188, 2.314
Thailand 3.9% 1.2% -1.4% 2.73, 2.73, 3.218, 3.201, 3.195, 3.19, 3.321, 3.313, 3.954, 3.944, 3.934, 3.924, 3.914, 3.884, 3.874, 3.53, 3.525, 3.521, 3.508, 3.417, 3.946
Malaysia -0.4% -3.8% -0.5% 3.347, 3.296, 3.245, 3.092, 3.311, 3.267, 3.23, 3.531, 3.396, 3.35, 3.305, 3.26, -3.451, -2.813, -2.601, -2.388, -1.829, -1.595, -0.895, -0.662, -0.428
Philippines 5.2% 0.2% 0.1% 5.001, 5.01, 5.019, 5.046, 5.052, 5.062, 5.071, 5.081, 5.109, 4.989, 5.002, 5.015, 5.028, 5.068, 5.082, 5.095, 5.108, 5.122, 5.162, 5.175, 5.188
Singapore 4.0% 0.5% 2.4% 3.169, 3.277, 5.416, 5.538, 5.579, 5.619, 5.66, 5.701, 5.823, 5.863, 3.592, 3.629, 3.666, 3.643, 3.674, 3.705, 3.692, 3.87, 3.95, 3.976, 4.003
Hong Kong 5.4% 0.3% 7.3% 5.027, 4.926, 4.621, 4.504, 4.465, 4.382, 4.344, 4.285, 3.924, 3.89, 3.855, 4.238, 4.199, 3.643, 3.584, 3.525, 3.466, 3.407, 5.43, 5.394, 5.358
Latin America 1.9% -1.2% 2.7% 3.051, 3.069, 3.275, 3.198, 3.298, 3.351, 3.342, 3.241, 3.222, 3.215, 3.25, 2.536, 2.469, 2.543, 2.552, 2.544, 2.145, 2.132, 2.137, 2.139, 1.894
Brazil 2.3% 0.5% 4.6% 1.83, 2.062, 2.079, 1.938, 1.932, 2.053, 2.046, 2.044, 2.024, 2.017, 2.098, 2.09, 2.001, 2.505, 2.522, 2.539, 2.684, 2.706, 2.772, 2.794, 2.295
Mexico 1.8% -0.6% -0.9% 2.406, 2.347, 3.971, 3.93, 3.951, 3.937, 3.923, 3.656, 3.628, 3.619, 3.609, 3.6, 3.529, 3.225, 3.205, 3.184, 1.942, 1.882, 1.82, 1.799, 1.778
Argentina 0.9% -7.8% 5.7% 8.549, 8.083, 5.307, 5.348, 5.985, 5.987, 5.989, 5.99, 5.996, 5.998, 6.0, 1.263, 1.276, 0.943, 0.998, 0.948, 0.944, 0.939, 0.925, 0.92, 0.915
EM Europe 5.0% 1.4% 0.7% 3.922, 3.887, 3.915, 3.858, 3.859, 4.014, 4.318, 4.349, 4.285, 4.253, 4.161, 4.134, 4.108, 4.226, 4.208, 4.214, 4.219, 4.191, 4.142, 4.586, 4.971
Russia 5.3% 0.7% 0.5% 5.354, 5.267, 5.247, 5.064, 5.002, 4.941, 5.534, 5.467, 5.267, 5.2, 5.004, 4.939, 4.874, 4.908, 4.853, 4.799, 4.744, 4.689, 4.525, 4.47, 5.309
Turkey 6.7% 3.8% 1.5% 2.988, 3.011, 3.085, 3.186, 3.22, 3.917, 3.936, 4.171, 4.211, 4.215, 4.229, 4.243, 4.257, 4.69, 4.721, 4.935, 4.976, 5.017, 5.139, 6.879, 6.74
Poland 3.1% 0.6% -0.2% 2.536, 2.544, 2.518, 2.548, 2.558, 2.568, 2.578, 2.588, 2.737, 2.758, 2.767, 2.777, 2.786, 2.719, 2.722, 2.724, 2.873, 2.877, 2.888, 3.077, 3.086
Czech Republic -0.1% 0.5% 0.5% -0.416, -0.408, -0.139, -0.072, 0.431, 0.451, 0.47, 0.49, 0.55, 0.57, 0.589, 0.609, 0.629, 0.653, 0.671, 0.224, 0.223, 0.222, 0.218, -0.117, -0.118
Hungary 2.5% -0.2% 0.2% 2.716, 2.722, 2.974, 2.986, 2.852, 2.856, 2.86, 2.863, 2.875, 2.769, 2.773, 2.777, 2.782, 2.685, 2.685, 2.684, 2.683, 2.362, 2.355, 2.465, 2.466
South Africa 1.7% -0.4% 0.3% 2.088, 2.02, 2.332, 2.336, 2.337, 2.338, 2.71, 2.708, 2.705, 2.704, 2.634, 2.634, 2.633, 2.393, 2.382, 2.37, 2.359, 2.347, 2.313, 2.301, 1.73