Oil & Gold Consensus Forecast - 01 July 2020
Oil prices were relatively stable over the past two weeks, amid a sustained rebalancing of global demand and supply conditions. Gold prices are expected to remain elevated this year and next.
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Latest Reports
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July 3, 2020
Global economic growth to take a severe hit in 2020
The world economy will shrink this year at the sharpest rate in decades, as measures taken to contain Covid-19 severely restrain private consumption, investment, trade, and travel. Risks to the outlook are elevated, given uncertainty over the evolution of the pandemic—including the possibility of a second wave of infections—and the duration of social distancing restrictions.
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July 15, 2020
The fast-spreading Covid-19 pandemic is set to push the region into its deepest recession in modern history this year
The economic outlook for Latin America, which is now the global epicenter of the coronavirus pandemic, was downgraded yet again this month. Lockdowns at home and the global recession will pummel economies through various channels including lower trade, commodity prices, tourism activity, remittances and domestic demand.
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June 17, 2020
The regional economy is forecast to shrink this year, hit by fallout from Covid-19
The pandemic is weighing heavily on trade, tourism and remittances inflows, while domestic containment measures are undermining household consumption and fixed investment.
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June 29, 2020
The economic fallout from the Covid-19 pandemic is expected to be severe
The regional economy is seen shrinking this year, due to the impact of domestic containment measures and lockdowns abroad hitting exports and tourism. More positively, governments across the region have eased restrictions in recent weeks, which should be supporting demand at the tail end of Q2. Downside risks include a second wave and prolonged weak external demand.
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June 25, 2020
East Asia economic growth is expected to slow significantly in 2020
Economic growth is expected to slow significantly in 2020 , as domestic activity and exports are restricted by coronavirus-related lockdowns at home and abroad, respectively. A key downside risk is a flare-up in coronavirus cases. Troubled trade relations between the U.S. and China represents an additional risk.
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July 3, 2020
Eurozone economic outlooks darkens considerably
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June 9, 2020
Central & Eastern Europe growth to lose traction in 2020
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June 9, 2020
Regional GDP is expected to contract notably this year, suppressed by the fallout from the Covid-19 pandemic. The health crisis is forecast to weigh heavily on private consumption, trade and tourism. While the gradual lifting of lockdown measures should provide some respite, fiscal space to spur economic activity varies greatly across the region.
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June 9, 2020
Economic activity worsened drastically in 2020
The regional economy is seen contracting this year as containment measures hinder private spending and investment activity, while extinguished external demand and compromised trade links dent exports. Russia, the regional heavyweight, will be battered by a weaker RUB and low oil prices, which will reverberate across the region’s smaller economies via shrinking remittances.
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June 9, 2020
The MENA economy is seen declining this year. Containment measures will weigh on domestic activity, while the global downturn will hurt external demand. Moreover, oil exporters will be hit by lower average oil prices compared to 2019 and constrained oil production following the OPEC+ deal. Widespread geopolitical tensions and possible social unrest pose downside risks.
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June 29, 2020
The region to suffer its worst contraction on record this year
Latest Economic
News
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Kazakhstan: Industrial output growth falls to one-year low in May
July 17, 2020
Industrial production increased a meagre 0.5% year-on-year in May (April: +6.2% yoy), as the effects of the Covid-19 pandemic dented activity.
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Italy: Pace of decline in annual prices stable in June
July 15, 2020
Consumer prices inched up 0.1% month-on-month in June, contrasting May’s 0.2% dip, according to preliminary data released by the National Statistical Institute (ISTAT).
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Angola: Cabinda prices recover some lost ground in June but remain depressed
July 15, 2020
Angola’s Cabinda crude oil sold at USD 41.1 per barrel (pb) on average in June, up from May’s USD 27.9 pb.
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