Global Macroeconomic Review August saw global economic conditions diverge, with weaker U.S. labour data strengthening expectations of a September rate cut. July non-farm payrolls fell by 23,000, against expectations of an 80,000 increase, while headline inflation eased to 3.4% y/y and wage growth slowed to 3.2%. In Europe, UK inflation accelerated to 2.9%, while Eurozone […]

Global Macroeconomic Review July saw weaker global growth alongside mixed inflation signals. U.S. Q2 GDP slowed to 1.5% annualized, while headline inflation eased to 3.5% and the Federal Reserve maintained its policy rate at 3.50%–3.75% amid softer payroll growth. UK inflation moderated to 2.6%, although the Bank of England held its rate at 3.75%, while […]

Global Macroeconomic Review June opened with the U.S. economy still growing, though on a narrower base than the broad-based growth seen previously. The final Q1 2026 GDP estimate was revised up to 2.1% (Q1 2025: -0.5%), reflecting a pickup in activity despite the drag from the U.S.-Iran war and its effect on energy prices… Domestic […]

Global Macroeconomic Review The U.S. economy in February 2026 showed moderate but resilient expansion, though growth continued to cool from mid-2025 momentum. S&P Global Composite PMI eased to around 52 points, marking the slowest pace of expansion in roughly ten months. Manufacturing remained in expansion for a second straight month… Domestic Macroeconomic Review The Nigeria’s […]

Global Macroeconomic Review The U.S. economy entered 2026 with a mixed but resilient outlook, supported by solid growth momentum alongside cooling labour and inflation dynamics. Economic activity remained firm, sustaining stronger Q2’2025, with real GDP expanding by 4.4% in Q3’2025, driven by resilient consumer spending and robust business investment, particularly in technology and AI-related capital […]

Executive Summary The global economy in 2025 demonstrated resilience despite renewed trade tensions, geopolitical conflicts, and persistent inflationary pressures. The return of President Trump to office triggered successive tariff measures that elevated policy uncertainty and market volatility. Nonetheless, negotiated rollbacks, front-loaded trade activity, and resilient demand—particularly in the United States—helped moderate the impact on global […]

Global Macroeconomic Review The U.S. economy in November 2025 operated under heightened uncertainty due to missing official data following the 43-day federal government shutdown. The disruption delayed the release of key indicators—including the full October employment report and Consumer Price Index (CPI)—limiting clarity for policymakers and complicating data-driven decision-making… Domestic Macroeconomic Review Nigeria Economy Expands […]

Global Macroeconomic Review The U.S. economy in October 2025 presented a mixed picture, as moderate labor market gains contrasted with signs of cooling demand. Private payrolls rose by 42,000 jobs, marking a rebound after two months of contraction, though overall hiring momentum remained weak. The unemployment rate held near 4.3%, and jobless claims edged lower, […]

Global Macroeconomic Review The U.S. saw soft labor growth but strong GDP, prompting a 25bps Fed cut as inflation stayed above target. The U.K. faces sticky inflation and weak labor demand, keeping the Bank Rate at 4.0%. The ECB paused rates, upgraded GDP forecasts, and inflation stabilizes. In Asia, India leads with 7.8% GDP growth, […]

Global Macroeconomic Review The U.S. labor market showed clear signs of slowing in July, with employers adding just 73,000 jobs, well below expectations, while May and June payrolls were revised downward by a combined 258,000. The unemployment rate inched up to 4.2%, and wage growth remained modest, underscoring weaker momentum in hiring. The disappointing report—particularly […]