Recurring series

Global Economics Wrap-Up

Finvaulta tracks 9 editions of Global Economics Wrap-Up from Goldman Sachs, published between May 10, 2026 and September 4, 2026. Each edition is summarized on its own page.

Latest edition · September 4, 2026

Global Economics Wrap Up September 4, 2026

Goldman Sachs reviews global macro trends for early September 2026, highlighting a 162k increase in US payrolls alongside Fed pause signals, an anticipated 25bp ECB hike, and downside surprises in Euro area core inflation. Meanwhile, AI adoption among US firms advanced to 22.4% and South Korean tech exports showed robust growth.

The September 4, 2026 Global Economics Wrap-Up covers key macroeconomic developments across the US, Europe, and Asia. In the US, August nonfarm payrolls rose 162k with a 4.1% unemployment rate and subdued wage growth, as Fed officials expressed cautious openness to holding rates. In Europe, Goldman expects the ECB to deliver a 25bp rate hike to 2.5% in September—likely the last of this cycle—supported by downside surprises in core HICP to 2.41% yoy and mixed German industrial figures. In Asia and emerging markets, manufacturing PMIs were divergent, while South Korea saw strong export momentum driven by tech products. Finally, US AI adoption rose to 22.4% of establishments, with hardware investment reaching $485bn annualized.

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Key takeaways from the latest edition

1.US nonfarm payrolls rose 162k in August with unemployment at 4.14%, while labor force participation rose to 61.6%; Fed speakers signaled openness to holding policy rates steady if disinflation continues.
2.Goldman Sachs expects the ECB to hike rates by 25bp to 2.5% at its upcoming September meeting, which is viewed as likely the final hike of this tightening cycle, though a low hurdle remains for a December move.
3.Euro area August core inflation slowed to 2.41% yoy, below consensus, while headline HICP rose to 3.26% yoy; German manufacturing indicators showed underlying softness excluding large transport orders.

What this series covers

Global Economics
US Economics
Europe Economics
Asia/EM Economics
GDP Forecast Tracker: GS vs. Consensus
Disclosure Appendix

Edition archive

Series at a glance

Editions tracked: 9
First edition: May 10, 2026
Latest edition: September 4, 2026

All Goldman Sachs research

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