The Weekly Macro Outlook

The weekly macro review for w/c 7 December 2020 - The roll-out of Covid-19 vaccines is helping to improve sentiment. But while prospects for the future are improving, there remains a more immediate/impending issue of the economic impact from the current outbreak as...

The weekly macro review for w/c 30 November 2020 - Data out of the US this week reflected some slowdown of the recent growth momentum. There has been a more localized approach to managing the spread of Covid-19 infections rather than any Nationally mandated approach....

Key highlights for the week will be important US data, global PMI’s for Nov, and US Fed Chairman Powell's testimony on the CARES Act. In the short-term, managing the spread of Covid-19 infections continues to impact economic activity. New cases remain extremely high...

The weekly macro review for w/c 16 November 2020 - Data from the US this week showed that the rebound in activity continued. A slight uptick in initial claims hinted at some possible impact from the growing level of state and regional restrictions. This will be...

The weekly macro review for w/c 9 November 2020 - Headline US consumer sentiment and expectations of future conditions both declined markedly at the start of Nov. This was the result of the election outcome and growing concern over the increase in Covid-19 infections....

The weekly macro review for w/c 2 November 2020 - US data this week continued to indicate improvement in the economy. Jobs growth improved – but there is still a long way before there is a full recovery of the jobs lost in Mar and Apr. The non-farm payrolls continue...

The US Presidential election, central bank policy decisions, and a heavy data week will feature against a backdrop of new peaks in Covid-19 infections in the US, Europe and the UK. Further restrictions have been announced for European countries, and another month-long...

The weekly macro review for w/c 19 October 2020 - Global prelim PMIs for Oct indicated mostly consistent momentum in manufacturing growth for the month. The exception was the UK. The Composite UK report was quite downbeat with growth slowing notably but remaining...

The weekly macro review for w/c 12 October 2020 - The current US initial and continuing jobless claims are still missing up-to-date California figures. This is likely to updated in the following week. As of the 26 Sep, continuing claims across all programs still...

The weekly macro review for w/c 5 October 2020 - Global services activity increased at a broadly similar pace in Sep as in Aug. The Eurozone slipped into slight contraction and Japan continued to contract at a similar, marginal pace. The US and UK services PMI’s...