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Weekly Economic Perspectives

German Real GDP Back to Pre-Covid Level

Chief Economist
Investment Strategist

The Economy

  • No dovish pivot at Jackson Hole, but no heightened hawkishness either.
  • UK manufacturing contracts.
  • German GDP back to pre-Covid level.
  • Composite PMIs slip into contraction territory in Japan and Australia.

Spotlight On Next Week

  • A solid payrolls report expected in the US.
  • Robust Q2 growth expected in Canada.
  • Retail sales in Japan likely steady.

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