Rare earths, the supply side and energy

Financial markets have experienced considerable gyrations in recent weeks, reflecting substantial shifts in investor expectations and heightened uncertainty, largely driven by ongoing US tariff policies. Against this backdrop, consensus growth forecasts have seen notable downward revisions across most major economies over the past 6 months. In our charts this week we home in on:

• The Blue Chip growth consensus
• The Blue Chip inflation consensus
• Supply chain pressures and PPI inflation
• US policy rate uncertainty
• The UK labour market
• Energy and growth