Global: GS Economic Indicators Update: Current Activity in DMs Above Potential

This report is Goldman Sachs Global Investment Research's periodic update of its proprietary global economic indicators as of 21 September 2026. The key takeaway is that current activity in developed markets (DMs) is running above potential: the GS DM Current Activity Indicator (CAI) tracks 2.6% in August against a DM potential growth rate of 1.6%, while the Global CAI stands at 3.2% (versus 2.5% potential) and the EM CAI at 4.1% (versus 4.2% potential). By country, August CAI readings are 3.6% for the US, 4.5% for China and 7.0% for India;