UK Housing Market Outlook Uncertainty reinforces soft housing outlook Rising Brexit uncertainty only reinforces our weak outlook for the housing market. In our most likely scenario, we think transactions will dip this year before edging back up in 2020, all while house... 24th January 2019 · 1 min read
Latin America Economics Update What now for Venezuela? The decision by the US and other governments to recognise the leader of Venezuela’s opposition Juan Guaido as president seems to have ratcheted up the pressure on the Maduro regime. Regardless of how... 24th January 2019 · 1 min read
India Economics Update What to expect from the interim budget The finance ministry will be keen to include some election sweeteners in the interim budget that is due on 1st February. But it will also want to demonstrate fiscal rectitude. The most likely outcome... 24th January 2019 · 1 min read
India Chart Pack Government attempts to woo SMEs Election giveaways in India have been ramped up significantly this month, with small and medium-sized enterprises (SMEs) the main beneficiaries. Firms with annual sales of less than INR0.4m are now... 23rd January 2019 · 1 min read
UK Economics Update Prime Minister’s sets out Brexit “Plan B” The Prime Minister’s “Plan B” is remarkably similar to Plan A, which Parliament rejected less than a week ago, so it doesn’t appear to change the near-term outlook for the economy. In that regard... 21st January 2019 · 1 min read
UK Commercial Property Update Brexit implications for property revisited The heavy defeat of Mrs May’s Brexit deal in Parliament means it is more likely that Article 50 will be extended. The greater uncertainty this implies will impact on both the UK economy and on... 21st January 2019 · 1 min read
Global Economics Update What could we expect from a "soft" Brexit? With Prime Minister Theresa May now holding cross-party talks, the chances have risen of a “soft” Brexit, resulting in the UK retaining closer ties with the EU than her defeated deal would have... 18th January 2019 · 1 min read
Europe Economics Weekly Euro-gloom, Brexit fears and Greek politics This week saw more evidence that the euro-zone economy has lost a lot of momentum. Meanwhile, the UK parliament rejected the EU Withdrawal Agreement, once again raising the spectre of a no deal Brexit... 18th January 2019 · 1 min read
Nordic & Swiss Economics Weekly Swedish fiscal boost to have a limited impact Sweden’s new government has agreed to cut income taxes and relax labour laws. It has also brought an end to four months of political uncertainty, at least for now. But we suspect that all this will... 18th January 2019 · 1 min read
Latin America Economics Weekly Weakness in ARS to continue, noisy Brazil data The Argentine peso has given up some of its recent gains against the dollar this week, and we expect further weakness over the coming months. Elsewhere, better-than-expected Brazilian retail sales... 18th January 2019 · 1 min read
Europe Economic Outlook Missing the global tightening cycle The euro-zone should regain some momentum in the coming months, at least compared to its dire performance at the end of last year. But we think the economy will expand by just 1% in 2019 as a whole... 18th January 2019 · 1 min read
UK Economics Update What might a “soft” Brexit look like? With Prime Minister Theresa May now holding cross-party talks, the chances have risen of a “soft” Brexit, resulting in the UK retaining closer ties with the EU than her defeated deal would have... 18th January 2019 · 1 min read
US Economics Weekly Shutdown costs continue to mount We have long argued that, rather than trade policy, an extended Federal government shutdown would be the key downside risk to the economy this year. Sure enough, the current stand-off is already the... 18th January 2019 · 1 min read
UK Economics Weekly Sentiment, not fundamentals, weighing on activity UK politics remains in meltdown. And there are plenty of signs that this is weighing on sentiment. But beneath this, the economy is well placed to benefit if and when the Brexit uncertainty lifts. 18th January 2019 · 1 min read
UK Data Response Retail Sales (Dec.) December’s slump means that retail sales volumes fell in Q4 as a whole. Unless a Brexit deal is signed soon, there is unlikely to be much of a rebound in Q1 2019 either. That said, if a no deal Brexit... 18th January 2019 · 1 min read
Africa Economics Weekly SARB turns dovish, Nigerian opposition flip-flops on reforms Policymakers in South Africa toned down their hawkish language at their meeting this week, suggesting that rate hikes are now off the agenda. Elsewhere, Nigeria’s leading opposition politician laid... 18th January 2019 · 1 min read
