Table 2.

Correlation matrix global and regional factors

	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)
(1) World	1.00
(2) Australia and Oceania	0.04	1.00
(3) East and Southeast Asia	0.13	0.30	1.00
(4) Europe	0.47	0.20	0.24	1.00
(5) Latin America and Carib	0.24	$-$ 0.07	0.29	0.33	1.00
(6) North Africa and W. Asia	0.26	0.19	0.41	0.40	0.73	1.00
(7) North America	0.30	0.44	0.17	0.45	0.54	0.68	1.00
(8) South Asia	0.26	0.18	0.41	0.38	0.72	1.00	0.67	1.00
(9) Sub-Saharan Africa	$-$ 0.05	$-$ 0.10	$-$ 0.12	$-$ 0.15	0.01	$-$ 0.06	$-$ 0.06	$-$ 0.06	1.00

Table shows correlations between global and regional output gap components