There has been some good news this week – including July’s labour market data and the continued rise in gas stocks – but the big picture is still very bleak, not least because even after the steep falls this week, gas prices remain very high. And next Thursday, we expect the ECB to step up the pace of tightening with a 75bp rate hike, which will add to the headwinds facing the economy.
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 gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services