Charting the global economy: UK labour party wins in landslide

This post was originally published on The Economic Times

The Labour Party won a landslide victory in the UK election after the Conservatives imploded following 14 years of rule that became defined by turmoil.

Any euphoria over the size of its win, though, will be quickly overshadowed by the scale of the economic challenges facing the next government.

Among economic data this week, inflation cooled last month in the euro zone, the US labor market showed further signs of moderating and Japan’s household spending retreated.
Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy, markets and geopolitics:

Europe

BloombergNew British Prime Minister Keir Starmer’s Labour Party took 412 of the 650 seats in the House of Commons, the most since Tony Blair’s 1997 triumph and a remarkable turnaround less than five years since being trounced at the last election. The Tories garnered 121 seats, their worst-ever performance. The pound strengthened.

BloombergEuro-zone inflation slowed in June — adding to evidence that price pressures are gradually moving toward the European Central Bank’s 2% target. Consumer prices rose an annualised 2.5%

Read the rest of this post, which was originally published on The Economic Times.

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