Janet Mui: weekly economic update 14 June

UK and Eurozone data indicates weakening economic performance and, in the US, slowing inflation is expected to add to the case for a rate cut



Janet Mui
Global Economist, Cazenove Capital
  • Latest UK GDP data shows a contraction, following evidence of Brexit-related stockpiling in the first quarter
  • The UK’s weakness comes largely from disappointing manufacturing, linked both to Brexit and global trade
  • Eurozone industrial production is declining, and we think it likely the ECB will reopen discussion on possible stimulus options
  • In the US, weaker-than-expected inflation, coming on top of last week’s disappointing job numbers, add to the pressure to cut rates

This article is issued by Cazenove Capital which is part of the Schroders Group and a trading name of Schroder & Co. Limited, 1 London Wall Place, London EC2Y 5AU. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. 

Nothing in this document should be deemed to constitute the provision of financial, investment or other professional advice in any way. Past performance is not a guide to future performance. The value of an investment and the income from it may go down as well as up and investors may not get back the amount originally invested.

This document may include forward-looking statements that are based upon our current opinions, expectations and projections. We undertake no obligation to update or revise any forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements.

All data contained within this document is sourced from Cazenove Capital unless otherwise stated.


Janet Mui
Global Economist, Cazenove Capital


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