RaboResearch - Economic Research


US:Technical recession

The advance estimate for Q2 GDP growth shows that the US is in a ‘technical recession’, which means two consecutive quarters of negative GDP growth. Meanwhile, the strong labor market is telling a different story. Therefore, it is not likely that the current economic circumstances will lead the NBER to call an official recession in H1.

Economic Update

Italy: Elections amid a cost of living crisis

In the second quarter, Italy’s economy performed better than expected and GDP is again larger than pre-pandemic. Still, a recession looks inevitable going forward, due to the cost of living crisis. After elections, policy could move significantly right.

Economic Update

Eurozone GDP surprise masks weakening trend

The Eurozone economy beat expectations in the second quarter, as it grew by 0.7%. We still expect the eurozone economy to enter a shallow recession in the winter, although the risks of a severe contraction due to an energy crisis have increased.


UK: Stagflation nation

The economy of the United Kingdom experiences a ‘European’ demand shock but also has ‘American’ labour shortages. Weak growth and high inflation is the result. Meanwhile, there is a constant threat of a trade war with the European Union.


United States: The inevitable recession

A recession seems inevitable for the US: even if the economy is able to absorb the exogenous shocks to the supply side, the response of the central bank to the wage-price spiral will cause a recession from within.

Economic Report

Inflatiemonitor Nederland - juni 2022 (Dutch)

Inflatie is terug van weg geweest en domineert momenteel het economische nieuws. Een sterke stijging van het algemene prijspeil holt de koopkracht van huishoudens uit en kan de winsten van bedrijven aantasten. In deze maandelijkse inflatiemonitor voor de Nederlandse economie geven we duiding aan de inflatiecijfers en presenteren we onze inflatieverwachtingen.