Janet Mui: weekly economic update 17 January
- The first-stage China-US trade deal leaves issues unresolved but draws an end to hostilities – for now.
- We've yet to see whether some of the terms of the agreement will prove to be achievable, and what that might mean for future negotiations.
- China's GDP data, released at the end of this week, showed growth at the lowest in 29 years. However, we see the de-escalation of the trade conflict with the US helping stabilise growth in 2020 and beyond.
- UK data continues to disappoint – indicating a high likelihood of a rate cut at the end of January.