Category: Service Industries
Service Industries market research reports by Oxford Economics
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Macro - Country Economic Forecasts - United Arab Emirates
Macro - Country Economic Forecasts - United Arab Emirates The UAE began a 40-day mourning period last week following the death of its president, Sheikh Khalifa bin Zayed al-Nahyan, who was instrumental in the economic transformation of the UAE. His successor, Sheikh Mohamed bin Zayed Al Nahyan, has ... Read More
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Macro - Weekly Briefings - United Kingdom
Macro - Weekly Briefings - United Kingdom CPI inflation reached a 40-year high of 9% in April. Though this should be the peak, the descent is likely to be slow given the strength of pressures coming along the supply chain, the renewed rise in petrol prices, and the recent weakness of sterling. Regul ... Read More
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Macro - Country Economic Forecasts - Romania
Macro - Country Economic Forecasts - Romania Flash estimates indicated Romania's Q1 2022 GDP grew 5.2% q/q, significantly better than expected. However, high-frequency data do not point to a sharp acceleration in GDP growth, with industry advancing only 2.5% q/q and retail sales growing by 0.8%. ... Read More
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Macro - Country Economic Forecasts - Ireland
Macro - Country Economic Forecasts - Ireland Irish inflation reached heights not seen in decades, as consumer prices rose 7% in April. But despite the resulting squeeze on consumers' spending power and another sharp drop in sentiment, survey data and other evidence point to an economy that is be ... Read More
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Macro - Weekly Briefings - US
Macro - Weekly Briefings - US While we still expect the Fed to steer the economy toward a soft landing, downside risks to the economy and the probability of a recession are increasing. A more aggressive pace of Fed rate hikes, a tightening in financial conditions, the ongoing war in Ukraine and Chin ... Read More
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Analysis by Region - Emerging Markets - Nigeria
Analysis by Region - Emerging Markets - Nigeria While Nigeria is one of the few countries that is expected to financially benefit from the war between Russia and Ukraine, it has not come off scot-free from the conflict. Higher fuel prices are pressuring households, prompting the government to redire ... Read More
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Analysis by Region - Emerging Markets - Bermuda
Analysis by Region - Emerging Markets - Bermuda We expect Bermuda's GDP to expand by 3.2% in 2022, which continues to be in line with average expected growth for Caribbean economies as they recover from the coronavirus pandemic. However, this positive outlook is dependent on Bermuda's year-e ... Read More
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Macro - Country Economic Forecasts - Qatar
Macro - Country Economic Forecasts - Qatar We continue to believe the economy began the year with a rebound and expect Qatar's GDP to expand by 3.6% in 2022, following 1.5% growth in 2021. Our forecast balances expectations of strong non-oil performance – underpinned by economic reopening and sp ... Read More
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Macro - Country Economic Forecasts - Belgium
Macro - Country Economic Forecasts - Belgium Since the start of the war in Ukraine, Belgium's outlook has changed significantly for the worse, so we have revised our growth and inflation forecasts substantially. We now see Belgian GDP advancing 2.1% in 2022 and 1.3% in 2023, down 0.8ppts and 0.2 ... Read More
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Macro - Country Economic Forecasts - Denmark
Macro - Country Economic Forecasts - Denmark The flash GDP estimate suggests the economy contracted slightly in Q1, although this was driven largely by an unwinding of health expenditures related to the pandemic. Nevertheless, this has lowered our 2022 GDP forecast 0.5pts to 3.9%. ... Read More
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Macro - Country Economic Forecasts - Italy
Macro - Country Economic Forecasts - Italy Since the outbreak of the war in Ukraine, we have revised our forecast for Italian growth downward. We now expect 2022 GDP to grow 2.9%, up 0.1ppt since last month after Q1 GDP data came in slightly better than expected, yet down more than 1ppt since our Fe ... Read More
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Macro - Country Economic Forecasts - Finland
Macro - Country Economic Forecasts - Finland We have lowered our 2022 GDP growth forecast for Finland to 1.5% from 1.7% last month, as weakening confidence further dampens the outlook. We expect inflation to peak higher with a greater passthrough to core prices, squeezing real incomes and denting co ... Read More
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Macro - Country Economic Forecasts - South Korea
Macro - Country Economic Forecasts - South Korea We have cut our South Korea GDP growth forecast 0.3ppts to 2.5% in 2022 and 0.4ppts to 2.4% in 2023. These downward revisions reflect downgrades in our China GDP growth forecasts, worsening of global supply-chain disruptions, and impact on domestic de ... Read More
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Macro - Country Economic Forecasts - Greece
Macro - Country Economic Forecasts - Greece We have cut our 2022 GDP growth forecast again, to 2.8% from 3% last month. This is a sharp slowdown from the 7.9% pace registered last year, reflecting the fallout from high numbers of Covid cases in early 2022 and more recently the war in Ukraine, which ... Read More
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Macro - Country Economic Forecasts - Switzerland
Macro - Country Economic Forecasts - Switzerland We've nudged our 2022 Swiss GDP growth forecast down to 2.4% from 2.6% last month, after factoring in weaker indicators for Q1 and additional disruptions to supply chains from the lockdowns in China. But we are maintaining our 2023 GDP forecast at ... Read More
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Macro - Country Economic Forecasts - Belize
Macro - Country Economic Forecasts - Belize Belize's economic growth rebounded by a stronger-than-expected 10% last year as easing travel restrictions supported the recovery of tourism-related services and the broader economy. We expect a stronger external sector to support a 5.8% GDP expansion ... Read More
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Macro - Country Economic Forecasts - Turkey
Macro - Country Economic Forecasts - Turkey We maintain our below-consensus GDP growth forecasts for Turkey at 2.1% and 2.5% for 2022 and 2023. The spiralling inflation, now at 70%, is leading to the steepest fall in real incomes since 2009, which, coupled with deteriorating sentiment, will increasi ... Read More
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Macro - Country Economic Forecasts - Germany
Macro - Country Economic Forecasts - Germany Germany's economy got off to a better-than-expected start in 2022, with GDP growing 0.2% q/q in Q1. Despite the positive surprise, we've nudged our 2022 GDP growth forecast downward to 1.8% from 2.0% last month, after factoring in additional disru ... Read More
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Macro - Country Economic Forecasts - Eurozone
Macro - Country Economic Forecasts - Eurozone We have lowered our 2022 GDP growth forecast for the eurozone by 0.1ppt to 2.7%, as a result of the ongoing Ukraine conflict which is having an acute impact on the region. Data released so far show the industrial sector being hit hardest, with industrial ... Read More
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Analysis by Region - Europe - Serbia
Analysis by Region - Europe - Serbia The Ukraine war is exacting a toll on Serbian economy, which is now expected to see growth slow to 4.5% for the year even as inflation (standing at 9.6% in April) continues to rise. Russia is Serbia's fifth-largest trade partner (after Germany, China, Italy, ... Read More
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Analysis by Region - Latin America - Panama
Analysis by Region - Latin America - Panama Panama's impressive economic recovery during H2 last year exceeded our expectations and resulted in a 15.3% GDP rebound in 2021. We now expect a 7.5% GDP expansion in 2022 and 4.4% growth in 2023. Ongoing coronavirus pandemic-related risks have receded ... Read More
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Macro - Country Economic Forecasts - Portugal
Macro - Country Economic Forecasts - Portugal We have raised our 2022 GDP growth forecast for Portugal to 6.9% from 4.8% last month. This reflects the huge Q1 GDP upside surprise. GDP rose 2.6% q/q, while we had pencilled in just a 0.4% gain to the start of the year. This builds on last year's s ... Read More
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Macro - Weekly Briefings - United Kingdom
Macro - Weekly Briefings - United Kingdom Although GDP rose 0.8% in Q1, the monthly numbers showed that growth was concentrated entirely in the first month of the quarter. Output stagnated in February and fell slightly in March, meaning activity had lost momentum even before the full weight of cost ... Read More
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Analysis by Region - Emerging Markets - Zambia
Analysis by Region - Emerging Markets - Zambia The passthrough effects of the Russia-Ukraine war on Zambia should transmit primarily through the terms-of-trade mechanism, considering the limited direct trade ties between the Southern African nation and the Black Sea countries. The energy price disru ... Read More
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Macro - Weekly Briefings - US
Macro - Weekly Briefings - US Inflation potentially topped out in March, but risks are tilted to the upside as resilient demand and constrained supply will keep price pressures from fading quickly. With inflation set to ease only gradually in H2 2022, we look for another 50bps Fed rate hike in June ... Read More
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