INT
World trade outlook fairly weak apart from auto trade
The WTO trade predictor signposts very modest trade growth ahead, with firm car trade offsetting weak electronics trade
InternationalEU space weapon test ban will help set global norm
The EU member states have committed not to carry out destructive anti-satellite missile tests
EUEuro-area and US activity and policy will diverge
The US services PMI slowed steadily but is still expanding, while euro-area consumer confidence weakened
InternationalFed balance sheet reduction should progress smoothly
The Federal Reserve has reduced its balance sheet by around USD0.8tn since April 2022 but ‘plumbing’ problems are a risk
United StatesWeak global activity will pressure forecasts downwards
The flash services and manufacturing PMIs for Europe and Asia Pacific suggest global activity is weakening
United StatesILO spotlights social risks of GenAI-linked job shifts
The ILO has released a report on a range of occupational tasks exposed to GenAI-related automation
InternationalEuro-area external balance rests on gas prices and ECB
The euro-area current account surplus has returned to its pre-Ukraine-war level due to a lower fuel import bill
EUNear- and friend-shoring markedly alter trade flows
The United States, Europe and Japan are trading more together and less with China, which is trading more with Russia
International
