Newcastle, 11 th December 2015 Ben Gutteridge, CFA: Head of Fund Research Brewin Dolphin UK Economic Perspective:

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Presentation transcript:

Newcastle, 11 th December 2015 Ben Gutteridge, CFA: Head of Fund Research Brewin Dolphin UK Economic Perspective:

UK Consumer – Reasons for Optimism Source: Bloomberg/BoE

Source: Bloomberg/Datstream UK Housing

UK Consumer – Reasons for Caution

UK Forward Rates Source: Bloomberg

Economic Rebalancing?

UK Trade Source: Bloomberg

Currency Strength Source: Bloomberg

Chinese Private Sector Leverage Source: Bloomberg

Sino the Times Source: Bloomberg

Yuan Direction Source: Bloomberg

Eurozone lending rates are falling

EU Referendum Brexit? What are the terms? Who will lead the campaigns? How will refugee crisis evolve? What can we learn from recent elections? Consequences for FDI? Consequences for markets?

UK Fiscal Consolidation

Deflation is the only constant Source: Bloomberg/Brewin Dolphin

Economic recover seems set to continue Decent jobs/wage growth Housing Private sector leverage a concern Global Trade remains a difficult environment Europe improving China slowing Currency Strength Summary

Disclaimer  The value of investments can fall and you may get back less than you invested.  Past performance is not a guide to future performance.  If you invest in currencies other than your own, fluctuations in currency value will mean that the value of your investment will move independently of the underlying asset.  The information contained in this document is believed to be reliable and accurate, but without further investigation cannot be warranted as to accuracy or completeness.  The opinions expressed in this document are not necessarily the views held throughout Brewin Dolphin Ltd.