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Research & Strategy

Economic Outlook

Every quarter, the Investment Strategy team shares its economic and market forecasts.

June 2016 - Quarterly views
Growth is set to remain uneven and sluggish across major economies this year. It will stay above potential in the...
March 2016 - Quarterly views
Despite a less supportive macro backdrop, we still do not see a recession looming. Slow global trade flows are impacting...
December 2015 - Quarterly views
Financial markets often seem fickle. Some of the strongest returns in equities, for example, are recorded when the...
October 2015 - Quarterly views
After a slowdown in global growth, notably in manufacturing output and world trade, we expect a pick-up helped by robust...
June 2015 - Quarterly views
• Another winter slump in the US, stronger growth in the eurozone thanks to external factors and continued slowdown in...
March 2015 - Quarterly views
• The outlook for the global economy remains mixed. US growth is broadening but not accelerating, Japan is picking up...
December 2014 - Outlook 2015
• Divergences in economic performance will persist in 2015: solid growth in the US and UK, a positive contribution from...
September 2014 - Quarterly views
• The US continues to drive economic activity in developed economies, while the euro zone has slowed steeply. •...
June 2014 - Quarterly views
The first half of the year has been quite unusual for investors. Global equity markets have risen towards all-time...