EMEA Markets View

Country Market Views

We commit to keeping you up to date with relevant news as we move through 2023. We entered the year with inflationary pressure sitting over the economy and casting a shadow on the decision-making process of many investors and occupiers. 

There is a glimpse of light with inflation across the Eurozone and in the UK slowing demonstrating the impact of base rate changes by the European Central Bank and the Bank of England have had on the economy. There is a balancing act in play now as the central banks focus on their primary goal of reducing inflation to their respective target levels whilst trying to avoid causing a recession or cutting off any sign of growth. 

Whilst consumer confidence remains low, we have seen the services sector turn back to growth and positive news with the reopening of the Chinese borders to trade being viewed as the true 'end' of COVID.  

The economy of the US, which is key to the entire world, is performing better than many expected with Q4 2022 GDP growth exceeding expectations, unemployment remaining low and inflation also coming down relatively swiftly. 

There is no doubt that 2023 will once more see economic challenges that will need to be withstood. The volume of capital remaining in the market, the falling rates of inflation, continued record low levels of unemployment, the performance of key stock markets and the need to address tightening ESG legislation offer not only hope, but an expectation that the year ahead will be less depressing than the story the media have been promoting for the past 10 months.