Economies & Debt
Economies & Debt is a data page on the World Powers desk of Glassbox Auditing. Each economy's size, growth, inflation, jobs, government, household and company debt, industries and markets, from 1969 to the IMF's forecasts. Growth abroad sets demand for U.S. exports and multinationals' sales, and yields abroad pull on U.S. borrowing costs.
Last updated: .
What is on this page today?
- TAIEX gained 42% in the year to 6 November 2026, the best of the 14 tracked stock indexes — Price change over one year in each index's own currency, without dividends; weakest Shanghai Composite -9% (The countries' stock exchanges, 5 Nov 2026)
- Japan's 10-year government bond yield is 2.81%, against 1.68% a year earlier — Higher on 27% of days since Jul 1986; last higher on 04 Nov 2026 · Record high 8.11% in Sep 1990, low -0.30% in Jul 2016 · 20-year 3.64%, 30-year 3.92%, 40-year 3.93% (Japan Ministry of Finance, 4 Nov 2026)
- United Kingdom's 10-year government bond yield was 1.77 points above Germany's in September 2026, down 0.22 points from a year earlier — Yield 5.24%, Germany 3.47% · +1.17 points five years earlier · Widest month of 2010-2013: +1.15 points · Monthly average yields; the spread against Germany separates a country-specific move from a move in all government… (OECD (10-year government bond yields), 29 Sep 2026)
- United States' 10-year government bond yield was 1.52 points above Germany's in September 2026, up 0.09 points from a year earlier — Yield 4.99%, Germany 3.47% · +1.73 points five years earlier · Widest month of 2010-2013: +1.10 points · Monthly average yields; the spread against Germany separates a country-specific move from a move in all government… (OECD (10-year government bond yields), 29 Sep 2026)
- France's 10-year government bond yield was 1.01 points above Germany's in September 2026, up 0.18 points from a year earlier — Yield 4.48%, Germany 3.47% · +0.40 points five years earlier · Widest month of 2010-2013: +1.54 points · Monthly average yields; the spread against Germany separates a country-specific move from a move in all government… (OECD (10-year government bond yields), 29 Sep 2026)
- Japan's 10-year government bond yield was 0.42 points below Germany's in September 2026, up 0.63 points from a year earlier — Yield 3.05%, Germany 3.47% · +0.43 points five years earlier · Widest month of 2010-2013: -0.42 points · Monthly average yields; the spread against Germany separates a country-specific move from a move in all government… (OECD (10-year government bond yields), 29 Sep 2026)
- The U.S. ran a $923B goods deficit with the 15 tracked powers in the 12 months to September 2026; the largest was with Mexico ($235B) — A deficit of $891B in the 12 months before; the bars rank the five largest deficits; together the powers take 65% of U.S. goods trade (U.S. Census Bureau, 29 Sep 2026)
- Greece's 10-year government bond yield was 0.76 points above Germany's in September 2026, up 0.06 points from a year earlier — Yield 4.23%, Germany 3.47% · +1.16 points five years earlier · Widest month of 2010-2013: +27.39 points · Monthly average yields; the spread against Germany separates a country-specific move from a move in all… (OECD (10-year government bond yields), 29 Sep 2026)
- Spain's 10-year government bond yield was 0.45 points above Germany's in September 2026, down 0.12 points from a year earlier — Yield 3.92%, Germany 3.47% · +0.69 points five years earlier · Widest month of 2010-2013: +5.55 points · Monthly average yields; the spread against Germany separates a country-specific move from a move in all government… (OECD (10-year government bond yields), 29 Sep 2026)
- Portugal's 10-year government bond yield was 0.38 points above Germany's in September 2026, down 0.06 points from a year earlier — Yield 3.85%, Germany 3.47% · +0.62 points five years earlier · Widest month of 2010-2013: +12.03 points · Monthly average yields; the spread against Germany separates a country-specific move from a move in all… (OECD (10-year government bond yields), 29 Sep 2026)
- Italy's 10-year government bond yield was 0.80 points above Germany's in August 2026, down 0.06 points from a year earlier — Yield 3.99%, Germany 3.19% · +1.17 points five years earlier · Widest month of 2010-2013: +5.18 points · Monthly average yields; the spread against Germany separates a country-specific move from a move in all government… (OECD (10-year government bond yields), 30 Aug 2026)
- Russia: real house prices in 2026 Q2 were 18.2% above their 2022 Q1 high — Real index 82.7 (2010 = 100) · +44.8% over ten years · Real means adjusted for consumer prices; countries differ in what the index covers (Bank for International Settlements (residential property prices), 29 Jun 2026)
- Mexico: real house prices in 2026 Q2 were 16.7% above their 2022 Q4 high — Real index 155.5 (2010 = 100) · +37.1% over ten years · Real means adjusted for consumer prices; countries differ in what the index covers (Bank for International Settlements (residential property prices), 29 Jun 2026)
- Australia: real house prices in 2026 Q2 were 0.5% below their 2022 Q1 high — Real index 141.2 (2010 = 100) · +24.0% over ten years · Real means adjusted for consumer prices; countries differ in what the index covers (Bank for International Settlements (residential property prices), 29 Jun 2026)
- India: real house prices in 2026 Q2 were 3.1% below their 2021 Q1 high — Real index 162.1 (2010 = 100) · -1.7% over ten years · Real means adjusted for consumer prices; countries differ in what the index covers (Bank for International Settlements (residential property prices), 29 Jun 2026)
- Italy: real house prices in 2026 Q2 were 3.2% below their 2021 Q3 high — Real index 75.5 (2010 = 100) · -4.9% over ten years · Real means adjusted for consumer prices; countries differ in what the index covers (Bank for International Settlements (residential property prices), 29 Jun 2026)
- United States: real house prices in 2026 Q2 were 3.5% below their 2022 Q1 high — Real index 154.2 (2010 = 100) · +29.9% over ten years · Real means adjusted for consumer prices; countries differ in what the index covers (Bank for International Settlements (residential property prices), 29 Jun 2026)
- Israel: real house prices in 2026 Q2 were 5.5% below their 2022 Q4 high — Real index 176.5 (2010 = 100) · +25.3% over ten years · Real means adjusted for consumer prices; countries differ in what the index covers (Bank for International Settlements (residential property prices), 29 Jun 2026)
- United Kingdom: real house prices in 2026 Q2 were 11.4% below their 2022 Q3 high — Real index 108.5 (2010 = 100) · -1.5% over ten years · Real means adjusted for consumer prices; countries differ in what the index covers (Bank for International Settlements (residential property prices), 29 Jun 2026)
- France: real house prices in 2026 Q2 were 14.6% below their 2022 Q3 high — Real index 96.3 (2010 = 100) · +1.7% over ten years · Real means adjusted for consumer prices; countries differ in what the index covers (Bank for International Settlements (residential property prices), 29 Jun 2026)
Where does the data come from?
Items on this page come from The countries' stock exchanges; Japan Ministry of Finance; OECD (10-year government bond yields); U.S. Census Bureau; Bank for International Settlements (residential property prices); Bank for International Settlements; IMF World Economic Outlook; World Bank World Development Indicators. Each item links to its own source. All sources, how items are checked.
What does this page lead to?
- Debt & Interest (Macro): Government bond yields move together across big economies; a jump in yields in Japan, the U.K. or Germany tends to pull U.S. Treasury yields with it. (moves the same way; days to weeks; global scale) Source: FRED (Federal Reserve Bank of St. Louis).
- Company Reports (Calendar): S&P 500 companies earn a large share of their sales abroad (their 10-Ks break revenue out by region), so slower growth in Europe or China tends to weigh on multinationals' reported revenue. (moves the same way; quarters; company scale) Source: SEC EDGAR filings (10-Q/10-K text).
- Central Banks (World Powers): Inflation above target is what central banks respond to, so the inflation readings here are the ones each bank's rate path follows. (moves the same way; months; global scale) Source: IMF World Economic Outlook / DataMapper.
- Prices & Inflation (Macro): Higher inflation in the countries the U.S. buys from shows up in U.S. import prices and then in the prices of goods on shelves. (moves the same way; months; global scale) Source: BLS import price indexes (all goods; excluding fuels), via FRED.
- Commodities (Global Intelligence): China uses about half the world's copper, steel and coal, so its growth rate moves industrial metal prices. (moves the same way; months; global scale) Source: IMF World Economic Outlook / DataMapper.
What feeds this page?
- Nation (AI): U.S. investment and productivity growth feed the IMF's U.S. growth forecasts, which the Economies page sets beside allies and rivals. (moves the same way; years; global scale) Source: IMF World Economic Outlook / DataMapper.
- Trade Exposure (Companies): U.S. imports are other countries' exports, so tariffs that cut U.S. purchases from China, Mexico or Vietnam reduce those economies' export earnings. (moves the other way; months; global scale) Source: UN Comtrade (U.S. Census trade data).
- Health Board (Domestic Intelligence): The board sets U.S. readings beside allies', trade partners' and rivals' comparable World Bank figures; U.S. growth and jobs relative to theirs shape trade and investment flows with them. (either way, depending on the cause; years; global scale) Source: World Bank World Development Indicators (CC BY 4.0).
- Education Compared (Education): Across countries, higher measured skills go with faster long-run growth (Hanushek and Woessmann), so the education gaps here underlie the output gaps on the Economies page. (moves the same way; decades; global scale) Source: OECD PISA mean scores via World Bank EdStats (CC BY 4.0).
- Good News (Global Intelligence): Gains in life expectancy, schooling and access to electricity raise how much each worker can produce, which shows up over decades as higher income per person. (moves the same way; decades; global scale) Source: World Bank World Development Indicators (CC BY 4.0).
- Oil & Tankers (Global Intelligence): A crude price jump widens the trade gaps of large oil importers such as India and Japan and swells Gulf exporters' revenues. (either way, depending on the cause; months; global scale) Source: IMF World Economic Outlook / DataMapper.
- Organized Violence (Global Intelligence): War cuts output in the countries where it is fought: Ukraine's GDP fell by close to 30% in 2022. (moves the other way; years; global scale) Source: IMF World Economic Outlook / DataMapper.
- Transport & Internet (Global Intelligence): Egypt earns billions of dollars a year in Suez Canal tolls; they fell by more than half in 2024 as ships avoided the Red Sea, a loss to its foreign-currency income. (moves the same way; months; global scale) Source: IMF PortWatch, daily chokepoint transits (satellite AIS).
- Global Data (Global Intelligence): An ageing population raises a country's pension and health spending as its workforce shrinks, which weighs on its budget and adds to its debt over decades, as in Japan. (moves the same way; decades; global scale) Source: World Bank World Development Indicators (CC BY 4.0).
- All Sources (Global Intelligence): Countries carrying several kinds of trouble at once, such as fighting, disasters and outages, tend to pay more to borrow abroad, as lenders price in the risk. (moves the same way; months; global scale) Source: IMF World Economic Outlook / DataMapper.
- H-1B & Talent (Immigration): Indian citizens receive about seven in ten H-1B approvals, and India's IT-services exporters staff U.S. clients through them, so H-1B rules reach India's service exports. (either way, depending on the cause; years; global scale) Source: USCIS H-1B Employer Data Hub.
- World Comparison (Immigration): Net migration props up the working-age share in ageing economies; countries with little of it (Japan, South Korea, China) see their workforces shrink sooner, which weighs on growth and public finances. (moves the same way; years; global scale) Source: World Bank World Development Indicators (CC BY 4.0).
- Tariffs & Government (Macro): Tariffs on a partner's goods tend to cut its exports to the U.S., which weighs on export-heavy economies' growth and invites retaliation against U.S. exports. (moves the other way; quarters; global scale) Source: UN Comtrade (U.S. Census trade data).
- Business Activity (Macro): U.S. imports are the other side of partners' exports, so U.S. demand feeds export economies such as China, Mexico, Canada and Germany. (moves the same way; months; global scale) Source: U.S. Census Bureau International Trade (goods exports and imports by partner and state).
- Energy & Materials (Macro): Higher oil prices raise exporters' revenues and budgets while widening importers' trade deficits, so the same move splits oil-producing and oil-importing economies. (either way, depending on the cause; quarters; global scale) Source: IMF World Economic Outlook / DataMapper.
- Oil to Prices (Macro): Korea imports nearly all its oil, so a supply-driven jump in Brent raises its import bill and tends to weigh on its economy and stocks. (moves the other way; weeks to months; global scale) Source: Yahoo Finance daily closes: sector SPDR ETFs, SPY, IWM, QQQ, EWY, KRE, EZU, EWQ, TLT, WEAT (wheat), BNO (Brent).
- SPY History (Markets): The S&P 500 tends to move with the stock markets of the U.S.'s allies and trading partners, since their companies share customers, suppliers and funding costs; Economies & Debt holds those markets. (moves the same way; same day; global scale) Source: Yahoo Finance prices.
- Elections & Polls (World Powers): A winner's program can change a country's deficit path, and bond markets reprice its debt on the result, as French yields did around the 2024 snap election. (either way, depending on the cause; days to months; global scale) Source: FRED (Federal Reserve Bank of St. Louis).