• RankiaPro Europe
    • RankiaPro Spain
    • RankiaPro LATAM
    • RankiaPro Italy
SUBSCRIBE
Search
Close
  • Home
  • Insights
    EQUITIES
    EQUITIES
    FIXED INCOME
    FIXED INCOME
    ESG
    ESG
    INTERVIEWS
    INTERVIEWS
    MARKET OUTLOOK
    MARKET OUTLOOK
    ETF
    ETF

    Featured

    outside allianz GI
    Insights

    China Briefing

  • News
    APPOINTMENTS
    APPOINTMENTS
    LAUNCHES
    LAUNCHES
    ASSET MANAGERS
    ASSET MANAGERS

    FEATURED

    rankiapro-blackrock-lanza-nuevo-fondo-ucits-asignacion-global-sostenible-europa
    Launches

    BlackRock launches new Sustainable Global Allocation UCITS Fund in Europe

  • Magazine
    RANKIAPRO EUROPE
    RANKIAPRO EUROPE
    RANKIAPRO IBERIA
    RANKIAPRO IBERIA
  • Events
    RANKIA FUNDS EXPERIENCE
    EVENTS & CONFERENCE CALLS
    EVENTS & CONFERENCE CALLS
    RANKIAPRO MEETINGS
    RANKIAPRO MEETINGS
  • Podcast
  • MiFIDII Training
Menu
  • Home
  • Insights
    EQUITIES
    EQUITIES
    FIXED INCOME
    FIXED INCOME
    ESG
    ESG
    INTERVIEWS
    INTERVIEWS
    MARKET OUTLOOK
    MARKET OUTLOOK
    ETF
    ETF

    Featured

    outside allianz GI
    Insights

    China Briefing

  • News
    APPOINTMENTS
    APPOINTMENTS
    LAUNCHES
    LAUNCHES
    ASSET MANAGERS
    ASSET MANAGERS

    FEATURED

    rankiapro-blackrock-lanza-nuevo-fondo-ucits-asignacion-global-sostenible-europa
    Launches

    BlackRock launches new Sustainable Global Allocation UCITS Fund in Europe

  • Magazine
    RANKIAPRO EUROPE
    RANKIAPRO EUROPE
    RANKIAPRO IBERIA
    RANKIAPRO IBERIA
  • Events
    RANKIA FUNDS EXPERIENCE
    EVENTS & CONFERENCE CALLS
    EVENTS & CONFERENCE CALLS
    RANKIAPRO MEETINGS
    RANKIAPRO MEETINGS
  • Podcast
  • MiFIDII Training
Search
Close
Search
Close

Home | Global economy continues to be robust

Global economy continues to be robust

In the United States, activity even seems to be accelerating due to the sharp rise in household consumption, with retail sales up year-on-year in October.
Guy Wagner

Managing Director

BLI - Banque de Luxembourg Investments

2021/12/07

Although the global economy has been progressing at a slightly slower pace since early summer, its growth trajectory continues to be robust. In the United States, activity even seems to be accelerating due to the sharp rise in household consumption, with retail sales up year-on-year in October despite a non-depressed basis of comparison from twelve months ago. In Europe, the situation is a little less rosy due to supply difficulties in the industrial sector and the resurgence of Covid-19 infections, although the purchasing managers’ indices have so far held up at a high level.

In China, the zero-tolerance policy to new coronavirus infections and the slowdown in the property market are reining in the growth of both domestic consumption and industrial activity. In Japan, third-quarter GDP fell compared to the previous three months, with the widespread decline in activity due to an increase in infections over the summer and supply chain disruptions.

Emergence of new Omicron variant provides uncertainty

The emergence of a new Covid-19 variant, named Omicron, provided a fresh wave of uncertainty at the end of November. Its impact on global growth will depend on the degree of contagion, effectiveness of the vaccines, and severity of the symptoms it causes.

The emergence of the new variant prompted a general decline in government bond yields in the United States and in the eurozone.

Setback on the stock markets at the end of the month

After a favourable start to November, stock markets were caught off guard at the end of the month by the emergence of the new Covid-19 variant. The prospect of the bond-buying taper being speeded up, as suggested by Federal Reserve Chairman Jerome Powell in his Senate Banking Committee speech at the end of the month, also weighed on share prices during the final trading day of November. Over the month, the US equity market was once again the most resilient. Guy In terms of sectors, only technology posted a strong gain, while finance and energy were the most affected by the threats to economic growth posed by the new variant.

Fed announces tapering of its asset purchases

As expected, at the Federal Reserve’s monetary policy committee (FOMC) meeting, Chairman Jerome Powell announced that the Fed would start tapering its asset purchases. Given the high level of inflation and robust economic growth, it seems highly likely that the FOMC will ramp up the pace of its tapering. In Europe, the ECB’s Governing Council did not meet in November. More precise indications on the future direction of European monetary policy are expected at its final meeting of the year in December.

  • BLI, Global Economy, Insights, Market Outlook

Related Post

COVER-2023-Artemis
  • Insights, Market Outlook

Reasons to be optimistic in 2023…

Few can ignore the fact that inflation is back and the era of low interest rates has come to a close.
Frenar-inflación-COVER
  • Insights, Market Outlook

These are the factors that could contribute to accelerating the end of inflation

We analyze the six factors that will determine whether or not inflation comes under control in 2023.
Cover-RankiaPro-Fed
  • Fiscal Policy

Fed moves away from big hikes: raises interest rates by 25 basis points

The market expected the central bank's decision and reacted well to the news. Here are the conclusions drawn by fund managers' experts.
NEWSLETTER
If you want to keep up to date with the latest news from the asset management industry and all our events, subscribe now to our newsletter.
Subscribe

Last Tweets

5h

🗣️ Fed moves away from big hikes: raises interest rates by 25 basis points

🔗 #Fed #InterestRates
...#RankiaProEurope
https://rankiapro.com/en/fed-moves-away-from-big-hikes-raises-interest-rates-by-25-basis-points/

5h

🗣️ECB raises rates by 50 basis points and warns of further increases this year

🔗#ECB #Inflation #rates
...#RankiaProEurope
https://rankiapro.com/en/ecb-raises-rates-50-basis-points-warns-further-increases-this-year/

6h

🗣️ @UBP_Group partners with Brigade to widen its liquid alternative offering

🔗#FundLaunch #LiquidAlternatives
... #RankiaProEurope
https://rankiapro.com/en/ubp-partners-brigade-widen-liquid-alternative-offering/

9h

🔝 The top 20 best-selling funds in January 2023
by @HLInvest

🔗#InvestmentFund #BestSelling #RankiaProEurope
...https://rankiapro.com/en/the-top-20-best-selling-funds-in-january-2023/

RankiaPro

  • Home
  • Insights
  • News
  • Magazine
  • Events
  • About us
Menu
  • Home
  • Insights
  • News
  • Magazine
  • Events
  • About us

Terms and uses

  • Cookies Policy
  • Privacy Policy
  • Disclaimer
Menu
  • Cookies Policy
  • Privacy Policy
  • Disclaimer

Contact

  • Email: [email protected]
  • Phone: (+34) 963 386 976
  • Mobile: (+34) 640 308 023

Newsletter

If you want to keep up to date with the latest news from the asset management industry and all our events, subscribe now.

Subscribe

All rights reserved © 2003 – 2021 Rankia S.L.

RankiaPro

  • Home
  • Insights
  • News
  • Magazine
  • Events
  • About us
Menu
  • Home
  • Insights
  • News
  • Magazine
  • Events
  • About us

Terms and uses

  • Cookies Policy
  • Privacy Policy
  • Disclaimer
Menu
  • Cookies Policy
  • Privacy Policy
  • Disclaimer

Contact

  • Email: [email protected]
  • Phone: 963 386 976 – 601 302 692

All rights reserved © 2003 – 2021 Rankia S.L.

Manage Cookie Consent
To provide you the best experience on our website, we use technologies like our own and third-party cookies for analytical purposes and to store device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique identifiers on this site. Not consenting or withdrawing consent may adversely affect certain features and functions.

To learn more, please read our Cookie Policy and Privacy Statement.
Functionality or Personalisation Cookies Always active
These cookies are necessary for the website to function or for the unique purpose of transmitting a communication over an electronic communications network, and cannot be disabled on our systems. Usually they are set up to respond to actions made by you to receive services, such as adjusting your privacy preferences or filling out forms. You can set your browser to block or alert you to the presence of these cookies, but some parts of the website will not work. These cookies allow the website to provide better functionality and personalisation. They may be set by us or by third parties whose services we have added to our pages. If you do not allow these cookies some of our services will not work properly.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics Cookies
These cookies allow us to count traffic sources in order to measure and improve the performance of our website. Storage or technical access which is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing Cookies
These cookies may be site-wide, placed by our advertising partners. These third parties may use them to create a profile of your interests and show you relevant adverts on other sites. If you do not allow these cookies, you may receive less targeted advertising.
Manage options Manage services Manage vendors Read more about these purposes
Cookie Settings
{title} {title} {title}
  • RankiaPro Europe
    • RankiaPro Spain
    • RankiaPro LATAM
    • RankiaPro Italy
Menu
  • Home
  • Insights
    • Equities
    • ESG
    • ETF
    • Fixed Income
    • Interviews
    • Market Outlook
  • News
    • Appointments
    • Asset Managers
    • Launches
  • Magazine
    • RankiaPro Europe
    • Magazine Iberia
  • Events
    • Rankia Funds Experience
    • Online Events
    • RankiaPro Meetings
  • Podcast
  • MIFIDII Training

Follow us on social media

Linkedin Twitter Youtube Flickr

NEWSLETTER

Subscribe

Book now

Global economy continues to be robust