NatWest’s June 30, 2025 commentary assesses global macroeconomic tensions, highlighting contrasts between resilient domestic demand, shifting inflation dynamics, and policy uncertainty across key regions.
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UK services-led recovery continues amid cooling price pressures, but manufacturing remains weak and employment declines persist.
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The US economy shows signs of deceleration, with softer services activity and rising inflation driven by tariffs, likely stalling Fed rate cuts.
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Eurozone momentum strengthens modestly, supported by improving manufacturing and falling input costs, giving the ECB more policy flexibility.
For a closer look at how policymakers are juggling growth, inflation, and geopolitical fragility, delve into the full report.
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