Dhaka, Oct. 25 -- After a tumultuous couple of years, the global economy finally seems to be in recovery mode. But beneath a placid surface of falling inflation and rising overall growth lie considerable inconsistencies, weaknesses, and tensions, reflected in tanking private-sector confidence.

The latest update of the Brookings-Financial Times Tracking Indexes for the Global Economic Recovery (TIGER) shows that, while global growth is gaining momentum, it remains weak, disjointed, and driven largely by the continued strong performance of just one economy: the United States. In fact, though a few economies - especially the US and India - are operating in high gear, most of the advanced economies and many emerging-market economies, includi...