Janet Mui: weekly economic update 22 November

  • Markets have rallied on the expectation of progress in US-China trade discussions. While talks continue, we do not think a comprehensive deal will be struck.
  • Purchasing manager survey data released this week suggests both manufacturing and service sectors are contracting in the UK.
  • In Europe the picture is brighter: weakness in German manufacturing is starting to improve. This and other indicators support our view that the global economy is stabilising as we head into 2020.

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