US Consumer Will not be Coming to the Economy’s Rescue

The latest print from the University of Michigan consumer sentiment survey has shown a fall of almost 12 points, the largest drop since 2008, and takes us back to 2016 levels. Unlike the last three recessions, which had seen consumer sentiment fall into each one...

The UK’s Deleveraging Failure

The synchronised nature of the global economic recovery has fanned speculation that the post-crisis deleveraging in developed countries has finally come to an end. However, we err on the side of caution and cite evidence from the UK, which suggests there has been...