Global | Mid-2021: the evolving outlook for cities around the world
We will publish our latest city forecasts at the end of June, showing that for the world’s major cities, 2020’s GDP declines will be mostly reversed by 2022. There will be a one-off permanent loss of output, but not a change of direction.
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- Many Asia Pacific cities saw recovery well underway in 2020. We have already revised up our estimates for GDP in both 2020 and 2021.
- Among individual major cities, Paris has tended to move broadly in line with Europe as a whole, whereas London and the UK have followed their own path.
- But the dramatic revision has been to prospects for US cities, thanks to the election of President Biden.
Latin America Key Themes 2024 – Slower growth, but it’s not all bad news
Growth in most LatAm economies will be below consensus. Economic momentum has surprised to the upside through most of 2023, but the full effects of record global and domestic monetary tightening are yet to be seen.Find Out More
Easing financial conditions offer CRE some respite
Our measure of financial conditions has become less restrictive in the US and started to loosen in the eurozone and the UK, reflecting investors' expectations that interest rates have peaked. This should aid the outlook for commercial real estate (CRE) on the margins, although the scale of past rate hikes, sluggish economies, and structural headwinds mean the sector still confronts challenging fundamentals.Find Out More