US Rapid Response US Retail Sales (Dec. 2025) The weaker-than-expected retail sales data for December won’t be enough to spoil the fourth quarter, with our estimate of fourth-quarter GDP growth still at 3.8% annualised. But, together with the... 10th February 2026 · 2 mins read
Europe Economics Update Consensus overcautious on Spanish consumers While the consensus expects economic growth in Spain to slow in 2026, we think that strong consumption will keep the economy growing at a similar pace to the 2.8% recorded last year. 9th February 2026 · 3 mins read
Global Economics Chart Pack Global Economics Chart Pack (Feb. 2026) The latest data seem to confirm that global GDP growth slowed in Q4. But there are also several signs of encouragement, consistent with our forecast for global growth to stabilise at about 3% this... 9th February 2026 · 1 min read
Europe Chart Pack Europe Chart Pack (Feb. 2026) We expect euro-zone GDP growth to be fairly sluggish in the coming years. Germany’s fiscal stimulus should provide only a temporary and fairly modest boost, and we don’t think it will do much to raise... 9th February 2026 · 1 min read
Australia & New Zealand Rapid Response Australia Monthly Household Spending Indicator (Dec. 25) Although Australian households pared back spending at the end of last year, that doesn't take away from the bigger picture that the economy is running too hot for the RBA's liking. Accordingly, we... 9th February 2026 · 2 mins read
Emerging Europe Rapid Response Russia Annual GDP (2025) The slowdown in Russian GDP growth to 1.0% in 2025 is consistent with a slight pickup in momentum in the economy in Q4, but the big picture is that the economy is under strain due to the war... 6th February 2026 · 2 mins read
US Rapid Response US Consumer Sentiment (Feb 2026) The robust pick-up in the current conditions index hints that the labour market, while still weak is improving, while inflation expectations seem to be heading in the right direction. Admittedly the... 6th February 2026 · 2 mins read
UK Economics Weekly Political wobbles, dovish BoE, rebound in activity won’t last The dovish surprise at this week's Bank of England meeting, including the downward revision to the Bank's GDP growth forecasts despite the recent rebound in activity, leaves us more confident in our... 6th February 2026 · 8 mins read
China Economics Weekly Local governments plan to keep tightening their belts China’s provincial governments have now concluded the annual meetings at which they set economic targets and lay out fiscal plans. They anticipate slower GDP growth this year and plan to continue with... 6th February 2026 · 6 mins read
Europe Economics Weekly Christine Lagarde’s wishful thinking on AI This week’s inflation data and ECB decision were in line with expectations. In this Weekly we take a look at Christine Lagarde’s claim that there is a significant AI-related pick-up in investment in... 6th February 2026 · 5 mins read
Africa Economics Update SA and the bursting of the precious metals bubble We think that the recent drop in precious metals prices has further to run, and the recent outperformance in South Africa’s financial markets has come to an end. But on the macro side, South Africa’s... 6th February 2026 · 4 mins read
Emerging Europe Economics Weekly Russia-India energy relations, Turkey CPI, CEE rates We are sceptical that India will fully curtail its oil imports from Russia as part of the US-India trade deal announced this week, but even a partial scaling back of purchases could add to strains in... 6th February 2026 · 5 mins read
Asia Economics Weekly Indonesia’s GDP rebound, Asian elections in focus Q4 GDP growth in Indonesia surprised on the upside at 5.4% y/y, the fastest pace since 2022 and a rare break from the strikingly narrow growth range seen over the past two years. However, given... 6th February 2026 · 5 mins read
India Economics Update RBI easing cycle comes to an end The Reserve Bank of India (RBI) kept the repo rate unchanged today at 5.25% and sounded a touch more confident on the growth outlook. With a key downside risk to growth having abated, thanks to the... 6th February 2026 · 3 mins read
Europe Rapid Response German Industrial Production (December) The slump in German industrial production in December pours cold water on the hopes of an industrial recovery. And though the recent pick-up in industrial orders suggests the outlook for the start of... 6th February 2026 · 2 mins read
