In the Keyword Tool Google has modified the Search Volume columns. The two columns are now labelled `Global Monthly Search Volume` and `Local Search Volume: `. Note that Local here means regional eg UK, France, etc.

Keyword Tool Local Global Search

A quick test indicates that the data in Local Search Volume is good but the lack of historic `Local` data is a pity eg a search term may be popular globally each month but here in the UK you will be making a decision based on just one months data. I suspect that for many the reverse would be better ie the current months data for Global with Local showing historic data. Google has not yet explained how this new data relates to the statement further up on the Keyword Tool page that ” Results are tailored to the languages and countries you choose below:” My vote would be for more local data and less world wide.