Denmark | Strong consumer spending should power the recovery
We’ve raised our 2021 GDP growth forecast by 0.2ppts to 3.4%, following the full release of the Q2 national accounts. While the consumer rebound fell short of expectations, strong wage growth and an unwinding of excess savings should power economic growth in H2.
What you will learn:
- Manufacturing contributed negatively to growth in Q2 as firms continue to see extended delivery times amid the global supply-chain disruption.
- With Covid cases under control and vaccine coverage high, strong consumer demand should power growth.
- Inflation in August reached 1.8%, a nine-year high.
BoJ to look through a temporary decline in monetary base
The Bank of Japan (BoJ) left monetary policy unchanged at today's (22nd Sep) meeting, maintaining current short- and long-term interest rates, despite another wave of yen weakening and upward pressures on JGB yields.Find Out More
Global: Worried businesses see almost 50% chance of recession
Businesses continue to downgrade their expectations for the global economy, based on our latest survey of risk perceptions. On average, respondents judge there's a 47% probability of a global recession over the next 12 months.Find Out More