According to atmospheric carbon dioxide concentration data collected at the remote Mauna Loa Observatory, Earth's economy continued to cool in July 2022.
That outcome can be seen in the latest update to Political Calculations' chart tracking the pace at which CO₂ accumulates in the Earth's air.
A falling rate of carbon dioxide accumulation in the atmosphere corresponds to falling levels of economic output. It also occurs as China's economy strengthened following the lifting of its government's zero-COVID lockdowns in several regions and as the U.S. economy likely continued shrinking or stagnating in real terms. The falling rate of CO₂ accumulation points to the established negative trend in the U.S. economy more than offsetting China's economic rebound.
All in all, it's pretty amazing what you can see about the global economy from the side of a remote volcano!
References
National Oceanographic and Atmospheric Administration. Earth System Research Laboratory. Mauna Loa Observatory CO2 Data. [Text File]. Updated 5 August 2022. Accessed 5 August 2022.
Labels: economics, environment
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