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If growth is the answer the future is not rosy

Published Friday, June 27th, 2014

Global equity markets once again experienced a bout of US growth-related jitters as yet another set of soft macroeconomic figures from the world’s largest economy weighed on sentiment. Following on from disappointing 1Q GDP data earlier in the week, retail spending rose by a measly 0.2% in May, missing forecasts of 0.4%, and will further call into question the pace of the post-1Q recovery.

As if waning US growth prospects weren’t enough for risk assets to contend with, comments from the president of the Federal Reserve Bank of St Louis that rates should increase sooner rather than later spooked investors and contributed to the overall decline on Wall St. Staying with the guardians of monetary policy, the Bank of England presented its latest bi-annual Financial Stability Report in which it announced a range of measures aimed at cooling the UK housing property market.

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.