As expected, today’s batch of flash PMIs confirmed that manufacturing has fared better than services in the face of the renewed virus wave. The strength of the US surveys was surprising and indicates...

A striking development in the past few months is how well housing markets in developed markets have generally been doing. We expect this to peter out next year, although in most cases house price...

The news about effective vaccines has improved the global economic outlook and we think that most restrictions on activity in advanced economies will be removed by around Q2 next year. But...

The COVID pandemic will leave a profound economic legacy. But unlike previous crises, this will not necessarily manifest itself in much weaker rates of long-term economic growth. Instead, the economic...