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The top five global risks are all about the environment – RBS

The Royal Bank of Scotland (RBS) mentions the list of top five risk that are being identified n the Global Risks report for 2020, unveiled at the World Economic Forum in Davos, with major emphasis on the UK, the EU and the US economies.

Key quotes

Like sunbeams bursting through heavy clouds, the jobs market data yet again provided the UK economy with a well needed tonic. 

With such strong job growth, the unemployment rate remained at 3.8%. Indeed, the majority of regions are registering figures around the 4% mark, including the North West (4.2%), East Midlands (3.9%) and Scotland (3.8%). 

Reduced political uncertainty following the general election boosted business confidence in December. It was hoped that this would translate into a meaningful pick-up in business activity.  So, it proved. 

HM Treasury is preparing for a new Budget, due on 11 March, and will have cheered the news of relatively modest increases in borrowing to date.

You would have noticed that climate change became a front-page issue in recent months. And the Office for National Statistics is tracking the UK low carbon and renewable energy economy (LCREE). 

The Euro area flash manufacturing PMI surprised on the upside in January 2020, rising to 47.8 versus 46.3 in December 2019, a five-month high.

The United States is in the midst of an unprecedented economic boom. So said President Trump in an assured speech to the World Economic Forum. This omitted to mention that the US economic growth rate eased through 2019. But he still has a point.

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