While the gloomy tone of recent data has left some commentators scrambling to downgrade their economic forecasts, our medium-term outlook is broadly unchanged. Admittedly, we now think consumer spending may come in a touch higher, at 1.7% y/y in 2005, and that the next interest rate cut is likely to happen in 2006 rather than in 2005.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services