Category: Service Industries
Service Industries market research reports by Oxford Economics
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Country Economic Forecasts - Philippines
Country Economic Forecasts - Philippines After estimated GDP growth of 4.6% in 2021, we expect the economic recovery in the Philippines to gain a firmer footing this year as activities normalise. That said, the year likely started off somewhat softly as a rise in daily Covid cases led to some modest ... Read More
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Country Economic Forecasts - Peru
Country Economic Forecasts - Peru Peru’s economy slowed in Q4 as mining activity was heavily affected by social unrest and protests. We have kept our 2021 GDP growth estimate at 12.9% mostly due to the big base effect from 2020. Our 2022 growth forecast remains unchanged at 3.3% as monetary policy t ... Read More
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Country Economic Forecasts - Kazakhstan
Country Economic Forecasts - Kazakhstan President Tokayev’s use of January protests, the worst for ten years, to take over his predecessor’s remaining powers, with a pledge to tackle old-regime oligarchs, may help new Prime Minister Alikhan Smailov (who has a finance ministry background) to speed up ... Read More
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Country Economic Forecasts - Ukraine
Country Economic Forecasts - Ukraine We maintain our 2022 GDP growth forecast of 2.8%. Geopolitical tensions are very high, and a new military conflict could cause a recession, although we do not think it would be as long and severe as in 2014-2015 because past reforms have reduced the economy’s vul ... Read More
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Country Economic Forecasts - North Korea
Country Economic Forecasts - North Korea North Korea’s economy likely remained in deep recession in 2021, following a 4.5% contraction in 2020. Borders were closed for the second consecutive year to prevent the spread of Covid, which depressed trade even further and affected domestic activities. We ... Read More
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Country Economic Forecasts - Ecuador
Country Economic Forecasts - Ecuador Ecuador’s early 2021 GDP data was revised upwards, leading us to upgrade our full-year growth expectation by 0.5ppts to 4%. However, a surge in Covid cases and an economic slowdown since late 2021 have prompted us to cut our 2022 GDP growth forecast by 0.9ppts to ... Read More
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Country Economic Forecasts - Georgia
Country Economic Forecasts - Georgia A strong Q4 as coronavirus restrictions were eased lifted GDP growth above its pre-pandemic rate in 2021, to an estimated 10.8%, and this year will see a continued above-trend rate of about 7.7% as fast-recovering capital inflows combine with private investment a ... Read More
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Weekly Economic Briefings - Uk Weekly Economic Briefing
Weekly Economic Briefings - Uk Weekly Economic Briefing A strong outturn for November took the output measure of GDP above its pre-pandemic peak. Given GDP is likely to have fallen in December, the quarterly version probably didn’t pass this landmark in Q4. However, timely data suggests the hit from ... Read More
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Weekly Economic Briefings - Eurozone Weekly Economic Briefing - Eurozone
Weekly Economic Briefings - Eurozone Weekly Economic Briefing - Eurozone Strong industrial production numbers for November offer some hope that the worst is over, supporting our view of a gradual resolution of supply-side issues. Moreover, the strong gains in Spain and Italy could very likely result ... Read More
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Country Economic Forecasts - New Zealand
Country Economic Forecasts - New Zealand Restrictions eased in Q4, and we estimate that the subsequent release of pent-up demand returned the economy to growth. We expect momentum to continue building, supporting GDP growth of 3.1% in 2022. ... Read More
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Weekly Economic Briefings - Us Weekly Economic Briefing
Weekly Economic Briefings - Us Weekly Economic Briefing While the Fed will walk a tightrope to avoid an excessive tightening of financial conditions and support continued labor market healing, policymakers look set to move swiftly to confront the strongest inflation readings in 40 years. We now see ... Read More
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Country Economic Forecasts - Oman
Country Economic Forecasts - Oman The surge in infections driven by the Omicron variant and the restrictions reintroduced to contain the spread will weigh on economic activity in Q1. We have trimmed our 2022 GDP growth forecast to 3.3% (down 0.2pp from three months ago) to reflect these short-term p ... Read More
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Country Economic Forecasts - Austria
Country Economic Forecasts - Austria The Austrian economy is suffering from the latest complete lockdown in late-November following a surge in infections and we now expect GDP to have contracted by 2.5% q/q in Q4. Restrictions were eased in December for the vaccinated, but around 25% of the eligible ... Read More
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Country Economic Forecasts - Chile
Country Economic Forecasts - Chile Gabriel Boric won election as president of Chile, beating his far-right opponent Jose Antonio Kast resoundingly in the election runoff. But market reaction to Boric’s victory speech, in which he pledged to adopt climate-friendly policies and scrap the pension syste ... Read More
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Weekly Economic Briefings - Emerging Markets Weekly Economic Briefing
Weekly Economic Briefings - Emerging Markets Weekly Economic Briefing Emerging Markets (EM) enter 2022 facing a resurgent pandemic, threatening some softening in demand in Q1, alongside continued supply-chain disruption. Apart from China, most governments have not tightened Covid-related curbs to an ... Read More
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Country Economic Forecasts - Spain
Country Economic Forecasts - Spain An upward revision to Q3 GDP and evidence of strong economic activity in late-2021 have led to an upward revision to our forecasts this month. We now see GDP growth of 5.5% in 2022 (up from 5.4% seen previously) after an estimated expansion of 4.9% in 2021. But the ... Read More
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Weekly Economic Briefings - Emerging Markets Weekly Economic Briefing
Weekly Economic Briefings - Emerging Markets Weekly Economic Briefing In Kazakhstan, protests against fuel price hikes have led to violent clashes with government forces in Almaty. President Tokayev has used the conflict as a pretext for completing the transfer of power from former President Nazarba ... Read More
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Weekly Economic Briefings - Eurozone Weekly Economic Briefing - Eurozone
Weekly Economic Briefings - Eurozone Weekly Economic Briefing - Eurozone The news for Europe at the start of the year has been mixed. The spread of the Omicron variant has resulted in a predictable surge in infections, in many countries widely surpassing previous waves. But there continue to be enco ... Read More
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Weekly Economic Briefings - Uk Weekly Economic Briefing
Weekly Economic Briefings - Uk Weekly Economic Briefing That movements in consumer credit and households’ savings in November returned to levels more akin to pre-Covid norms offered further indication that activity was growing at a decent pace in Q4 before Omicron struck. ... Read More
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Weekly Economic Briefings - Us Weekly Economic Briefing
Weekly Economic Briefings - Us Weekly Economic Briefing The December jobs report showed the first signs of strain due to the surge in Covid cases, with payroll gains falling short of expectations. We expect the Omicron wave to constrain the labor market further early in 2022, with hiring held back b ... Read More
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Country Economic Forecasts - Cyprus
Country Economic Forecasts - Cyprus The Cypriot economy gradually recovered in 2021 after the modest 5.2% contraction in 2020 due to the pandemic crisis. Although the deteriorating health situation linked to the new Omicron variant may slow the recovery, we expect only a marginal GDP contraction in ... Read More
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Country Economic Forecasts - Iceland
Country Economic Forecasts - Iceland After a slowdown caused by renewal of Covid-19 restrictions into early-2022, the recovery is forecast at 3.2% this year and then peaking at close to 7% in 2023 as investment, consumption and net exports all rise. The pace is then seen slowing from 2024 as supply- ... Read More
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