Macro

UK house prices recorded their highest monthly increase since 2020, driven by a surge in new sellers entering the market in January, according to property website Rightmove. Average house prices rose by 1.7% in January compared to December, following a 1.7% decline in the previous month. On an annual basis, house price growth accelerated to 1.8% from 1.4% in December. Rightmove reported

The world economy is projected to remain resilient despite significant challenges, according to the OECD’s latest Economic Outlook. The Outlook projects global GDP growth of 3.3% in 2025, up from 3.2% in 2024, and 3.3% in 2026. Inflation in the OECD is expected to ease further, from 5.4% in 2024 to 3.8% in 2025 and 3.0% in 2026. Headline inflation has already

The European Union (EU) and Mercosur finalised a free trade agreement on Friday (Dec. 6), after more than 20 years of negotiations. Mercosur is the South American economic bloc comprising Argentina, Bolivia, Brazil, Paraguay, and Uruguay. “This is a win-win agreement, which will bring meaningful benefits to consumers and businesses, on both sides. We are focused on fairness and mutual benefit. We

The Organization for Economic Cooperation and Development (OECD) said on Wednesday (Sept. 25) that the world economy is turning the corner as growth remained resilient through the first half of 2024, with declining inflation, though significant risks remain. With robust growth in trade, improvements in real incomes and a more accommodative monetary policy in many economies, the OECD’s latest Interim Economic Outlook

The Austrian economy contracted 0.6% in the second quarter of 2024 on an annual basis, the latest data from Statistics Austria showed. “Austria’s economy is sliding from recession towards stagnation. In the second quarter of 2024, gross domestic product fell for the fifth time in a row, declining by 0.6% compared to the same quarter of the previous year. Industrial production and

The Indian economy expanded by 6.7% from the previous year in the June quarter of 2024, slowing from the 7.8% increase in the earlier period, preliminary figures from the country’s statistical office showed Friday. The Reserve Bank of India (RBI) had forecast 7.1% growth for the quarter while economists had forecast 6.9% expansion. It was the slowest expansion in five quarters, as

The inflation rate in Switzerland rose to 3.3% in January from a year earlier, largely reflecting higher food and energy prices, the Federal Statistics Office said, the highest reading since September 2022, from 2.8% in the prior month and above market expectations of 2.9%. Core inflation that excludes fresh food, energy and fuel, remained unchanged at 2.2%. The increase in inflation was

About 47 shops closed for good every day in 2022 in the UK, according to analysis from the Centre for Retail Research (CRR), an independent research body which provides analysis of retail sector trends. It says 17,145 stores on high streets and other locations across the country shut in total, up almost 50% on 2021. The group’s survey found that 151,474 retail jobs

Germany’s economy, the largest in Europe, is expected to contract in the fourth quarter of 2022 and enter a recession, as well as the first quarter of 2023, Deutsche Bundesbank, said on Wednesday (Nov. 23) in a monthly report.  The country’s central bank stressed that the “extent of the recession is extremely uncertain.” According to the report, uncertainty about energy supply, as

The Organisation for Economic Co-operation and Development (OECD) said that global growth is set to slow to 3.1% in 2022 and fall even further to 2.2% in 2023 The OECD stressed that “uncertainty about the outlook is high” and the risks have become “more skewed to the downside and more acute” but the global economy should avoid a recession next year “We