Janet Mui: weekly economic update 11 October

  • Investors cheered news that senior negotiators from the US and China would meet for the first time since July to discuss a trade deal.  
  • With global economic data continuing to weaken, we believe that a comprehensive trade deal is essential to revitalise economic growth.
  • Monthly GDP data for August suggests the UK will narrowly avoid a technical recession. We expect weak but positive growth in the third quarter.
  • Late in the week, sterling and UK domestic equities rallied after Boris Johnson and Leo Varadkar said they could see a “pathway” to a Brexit deal.

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