The outlook for the global economy remains ambivalent, driven by a dichotomy in macroeconomic conditions across regions, the article on 'State of the Economy' stated. While expectations of a 'Goldilocks' soft landing in the US are strengthening, concerns about slowdowns in China and Europe are rife, it said, and added that the impact of aggressive monetary tightening is spreading, with the services sector joining housing, bank lending and industrial production in a loss of momentum.