{
  "module_number": 6,
  "module_name": "GLOBAL_ECONOMIC_GROWTH_AND_OVERSEAS_MARKETS",
  "calculation_version": "6.0.0",
  "generated_utc": "2026-08-01T23:23:59.968692+00:00",
  "generated_ny": "2026-08-01T19:23:44.705880-04:00",
  "regional": [
    {
      "region": "Eurozone",
      "weight": 12.0,
      "gdp_value": 0.22,
      "gdp_score": 1,
      "pmi_value": null,
      "pmi_score": null,
      "ip_value": null,
      "ip_score": null,
      "raw_growth": 1.0,
      "final_point": 1,
      "status": "VALID"
    },
    {
      "region": "UK",
      "weight": 2.3,
      "gdp_value": -1.37,
      "gdp_score": -2,
      "pmi_value": null,
      "pmi_score": null,
      "ip_value": 0.78,
      "ip_score": 1,
      "raw_growth": -0.5,
      "final_point": -1,
      "status": "VALID"
    },
    {
      "region": "Japan",
      "weight": 3.7,
      "gdp_value": 0.32,
      "gdp_score": 1,
      "pmi_value": null,
      "pmi_score": null,
      "ip_value": -5.33,
      "ip_score": -2,
      "raw_growth": -0.5,
      "final_point": -1,
      "status": "VALID"
    },
    {
      "region": "EM-ex-China",
      "weight": 42.0,
      "gdp_value": null,
      "gdp_score": null,
      "pmi_value": null,
      "pmi_score": null,
      "ip_value": null,
      "ip_score": null,
      "raw_growth": null,
      "final_point": null,
      "status": "MISSING"
    },
    {
      "region": "Other-DM",
      "weight": 8.0,
      "gdp_value": null,
      "gdp_score": null,
      "pmi_value": null,
      "pmi_score": null,
      "ip_value": null,
      "ip_score": null,
      "raw_growth": null,
      "final_point": null,
      "status": "MISSING"
    }
  ],
  "china": {
    "final_point": null,
    "weight": 19.0,
    "status": "MISSING_MODULE_7"
  },
  "global_activity": {
    "overseas_ip_point": -0.5,
    "trade_point": null,
    "global_activity_point": -1,
    "descriptive_only_flag": false
  },
  "surprise": {
    "standardised": null,
    "status": "MISSING",
    "overlay_point": 0
  },
  "market_confirmation": {
    "risk_votes": [
      1,
      1,
      1,
      1,
      0,
      1
    ],
    "risk_vote_total": 5,
    "risk_status": "RISK_ON",
    "funding_stress_regions": 0
  },
  "industries": [
    {
      "industry": "Semis",
      "etf": "SMH",
      "plain": "STRONG_NEGATIVE",
      "ratio": "STRONG_RW",
      "combined": "CONFIRMED_BEARISH"
    },
    {
      "industry": "Software",
      "etf": "IGV",
      "plain": "STRONG_POSITIVE",
      "ratio": "STRONG_RS",
      "combined": "CONFIRMED_BULLISH"
    },
    {
      "industry": "Biotech",
      "etf": "XBI",
      "plain": "NEGATIVE",
      "ratio": "STRONG_RW",
      "combined": "CONFIRMED_BEARISH"
    },
    {
      "industry": "Regional banks",
      "etf": "KRE",
      "plain": "POSITIVE",
      "ratio": "NEUTRAL",
      "combined": "UNCONFIRMED"
    },
    {
      "industry": "Homebuilders",
      "etf": "XHB",
      "plain": "STRONG_NEGATIVE",
      "ratio": "STRONG_RW",
      "combined": "CONFIRMED_BEARISH"
    },
    {
      "industry": "Airlines",
      "etf": "JETS",
      "plain": "STRONG_POSITIVE",
      "ratio": "STRONG_RS",
      "combined": "CONFIRMED_BULLISH"
    },
    {
      "industry": "Transports",
      "etf": "IYT",
      "plain": "STRONG_NEGATIVE",
      "ratio": "STRONG_RW",
      "combined": "CONFIRMED_BEARISH"
    },
    {
      "industry": "Aero-defence",
      "etf": "ITA",
      "plain": "NEUTRAL",
      "ratio": "NEUTRAL",
      "combined": "UNCONFIRMED"
    },
    {
      "industry": "Gold miners",
      "etf": "GDX",
      "plain": "NEGATIVE",
      "ratio": "STRONG_RW",
      "combined": "CONFIRMED_BEARISH"
    },
    {
      "industry": "Oil E&P",
      "etf": "XOP",
      "plain": "POSITIVE",
      "ratio": "RS",
      "combined": "CONFIRMED_BULLISH"
    },
    {
      "industry": "Oil services",
      "etf": "OIH",
      "plain": "NEUTRAL",
      "ratio": "NEUTRAL",
      "combined": "UNCONFIRMED"
    },
    {
      "industry": "Pipelines",
      "etf": "AMLP",
      "plain": "POSITIVE",
      "ratio": "NEUTRAL",
      "combined": "UNCONFIRMED"
    },
    {
      "industry": "Steel",
      "etf": "SLX",
      "plain": "POSITIVE",
      "ratio": "RS",
      "combined": "CONFIRMED_BULLISH"
    },
    {
      "industry": "Copper",
      "etf": "COPX",
      "plain": "POSITIVE",
      "ratio": "RS",
      "combined": "CONFIRMED_BULLISH"
    },
    {
      "industry": "Ag-inputs",
      "etf": "MOO",
      "plain": "NEGATIVE",
      "ratio": "STRONG_RW",
      "combined": "CONFIRMED_BEARISH"
    },
    {
      "industry": "Shipping",
      "etf": "BOAT",
      "plain": "POSITIVE",
      "ratio": "NEUTRAL",
      "combined": "UNCONFIRMED"
    },
    {
      "industry": "Solar",
      "etf": "TAN",
      "plain": "STRONG_NEGATIVE",
      "ratio": "STRONG_RW",
      "combined": "CONFIRMED_BEARISH"
    },
    {
      "industry": "Wind",
      "etf": "FAN",
      "plain": "NEGATIVE",
      "ratio": "STRONG_RW",
      "combined": "CONFIRMED_BEARISH"
    },
    {
      "industry": "Crypto-equities",
      "etf": "WGMI",
      "plain": "STRONG_NEGATIVE",
      "ratio": "STRONG_RW",
      "combined": "CONFIRMED_BEARISH"
    },
    {
      "industry": "China internet",
      "etf": "KWEB",
      "plain": "STRONG_POSITIVE",
      "ratio": "STRONG_RS",
      "combined": "CONFIRMED_BULLISH"
    },
    {
      "industry": "Pharma",
      "etf": "XPH",
      "plain": "POSITIVE",
      "ratio": "NEUTRAL",
      "combined": "UNCONFIRMED"
    },
    {
      "industry": "Retail importers",
      "etf": "XRT",
      "plain": "STRONG_POSITIVE",
      "ratio": "STRONG_RS",
      "combined": "CONFIRMED_BULLISH"
    },
    {
      "industry": "Autos",
      "etf": "CARZ",
      "plain": "NEUTRAL",
      "ratio": "RELATIVE_WEAKNESS",
      "combined": "UNCONFIRMED"
    },
    {
      "industry": "Hotels/travel",
      "etf": "PEJ",
      "plain": "POSITIVE",
      "ratio": "RS",
      "combined": "CONFIRMED_BULLISH"
    }
  ],
  "company_alerts": [],
  "spillovers": [],
  "final": {
    "base_point": null,
    "surprise_adjusted_point": null,
    "final_point": null,
    "direction": "INVALID",
    "regional_weight_coverage_pct": 26.5,
    "confidence_pct": 43.0,
    "confidence_level": "INVALID",
    "regime": "INVALID",
    "data_status": "PARTIAL_EXCLUDING_CHINA"
  },
  "handoffs": {
    "china_module_7": "NOT_WIRED",
    "policy_module_5": "NOT_WIRED",
    "sector_rs_module": "NOT_WIRED"
  },
  "existing_position_action": "NO_AUTOMATIC_CHANGE",
  "trade_approved": false,
  "order_generated": false
}