This market update by NatWest provides an overview of key economic and market trends across the UK, Eurozone, U.S., and global economies as of December 2024.
• UK Economy: Resilient housing market with 4.8% annual price growth; labor costs and rising National Insurance contributions threaten business margins.
• Eurozone Trends: Record-low unemployment (6.3%) contrasts with weak PMIs (48.3), signaling potential stagnation.
• U.S. Labor Market: Strong November payrolls growth (227k jobs) despite slight unemployment increase to 4.2%.
• Global Outlook: OECD forecasts 3.3% global GDP growth in 2025-2026, with inflation declining to 3.0%.
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