UK | The economy reveals a resilient base for recovery
While the economy shrunk in Q1, the fall was smaller than feared. And the quarter ended with evidence of activity building momentum even before a meaningful relaxation of Covid restrictions began.
The latest high-frequency measures reaffirmed the message of such indicators since mid-April that GDP is on course for a strong rebound in Q2, aided by the final stages of the roadmap for reopening the economy staying on track.
What you will learn in this comprehensive 4 page report:
- A rise in GDP in March narrowed the shortfall with the pre-pandemic level of output to just under 6ppts
- Spending on credit and debit cards in early May was 6% above pre-pandemic levels
- Some indicators suggest pent-up consumer demand may be stabilising
Slowdown in 2023, except for Chinese cities
Growth across advanced Asia Pacific cities is slowing down in 2022's second half, and their full-year growth rates will trend downwards in 2023. In emerging Asian cities, we expect an uptick in growth in 2022, followed by a marked weakening in 2023.Find Out More
European cities face a tough winter as recession spreads
Strong annual GDP growth figures for most major European cities do not tell the whole story in 2022 as the economic environment across Europe has continued to deteriorate in the second half of this year. We expect technical recessions across most major European cities in H2 2022 and into Q1 2023.Find Out More