Outlook on the United Kingdom: July 2023

Lazard's Outlook series provides a forward-looking view, over the short, medium, and/or long term, of asset classes, sectors, regions, or countries from the view of Lazard Asset Management. In this edition, LAM portfolio managers share their outlook for the United Kingdom in Q3 2023. 

Summary

• A still-resilient U.K. consumer faces increasing pressure from higher rates, although the impact of higher mortgage costs will take time to hit disposable incomes.
  
  
• Price pressures in the United Kingdom’s crucial services sector are contributing to rising core inflation.
  
  
• U.K. equity valuations remain at absolute and relative lows.

Click here to read our Outlook on the United Kingdom for Q3 2023.