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About

WHO WE ARE

Challenging Consensus.
Delivering Independent Insight.

An independent macroeconomic research firm since 1999. More than 60 economists across 100+ economies,
no banking arm and no book to trade, so the only thing we are paid to do is be right.

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The people

The economists behind the research

Every forecast and view published by Capital Economics carries the name of the economist behind it. These are career macro specialists, accountable for what they say and available to challenge and discuss their thinking. A few of the senior economists whose insights you would be relying on:

Independence

Why our clients trust our views

Many firms describe themselves as independent. What matters is how that independence is protected. At Capital Economics, it is built into the structure of the business itself.

Independent by design, not just by claim  

Many firms describe themselves as independent. What matters is how that independence is preserved. At Capital Economics, it is built into the way we operate.

No conflicts to manage 

Capital Economics has no investment banking, brokerage or trading activities influencing its views. Our research exists to explain the world, not support a transaction or a position.

Aligned incentives

As a subscription business, our success depends on providing insight clients value and trust. We succeed when our analysis proves useful, not when a particular narrative prevails.

Built, not bought

Our forecasts, models and analytical frameworks are developed and continuously refined in-house. The intellectual property that underpins our views is our own.

Rigorous challenge

Research is subject to ongoing peer review and debate across our senior economist team. Ideas are tested, assumptions challenged and conclusions refined before they reach clients.

Proven expertise

Our economists include former central bankers, Treasury officials and market specialists with decades of experience across economies, sectors and asset classes.

Named and accountable

Every published view carries the name of the economist behind it, giving clients direct access to the people responsible for the analysis.

Validation

Independently rated for accuracy

We do not mark our own homework. The record is rated by third parties, on the only metric that matters: accuracy. CE economists are quoted on the macro events that move markets in the Financial Times, The Times and City AM, among others.

Three-time top forecaster of major economies

Refinitiv, 2024 to 2025

Most first-place wins for overall forecasting accuracy

FocusEconomics analyst awards

UK Economics Forecaster of the Year

The Sunday Times

Forecast-accuracy awards

LSEG and the Wall Street Journal

MILESTONES

A history of independent thinking

From our founding in 1999 to some of our most notable forecasts, explore the milestones that have shaped Capital Economics

1999

Founded in London to provide independent insight into UK macro and markets to global institutional investors.

2002

Coverage expanded to give clients a fuller picture of global macroeconomic developments.

2005

Among the first to identify the US housing market bubble that ended in the Global Financial Crisis and warned of a US economic downturn, even as the consensus continued to expect strong growth.

2009

The widely followed China Activity Proxy was launched to give clients a clearer, unbiased measure of Chinese economic activity, independent of official sources.

2010

The Wall Street Journal names Capital Economics US Forecaster of the Year and showcases our non-consensus call that interest rates would stay put for years. In the end, rates weren’t raised until 2015.

2011

Won the inaugural Wolfson Economics Prize for explaining how a country could leave the euro-zone.

2012

CE Consultancy is launched to provide customised macroeconomic and market insight.

2013

Correctly warned of the end of the ‘golden age’ of emerging market growth.

2018

Our data service is launched to give clients direct access to the numbers that power our analysis.

2021

We correctly argued against the popular idea that another ‘supercycle’ was emerging in commodity markets.

2023

Named Sunday Times UK Forecaster of the year for a third year. New analysis on AI’s global impact fuelled non-consensus equities views which swept LSEG forecast accuracy awards for 2023.

2025

Dominated FocusEconomics’ annual analyst awards again with most wins for overall coverage of DMs, EMs and commodities.

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