Counterpoint Macro Index

Counterpoint Macro Index Q2 2023
SOURCE: Counterpoint Macro Index – July 2023

Counterpoint Macro Index: Q2 2023

Published Date: 26th August 2023


The Good

• Economic data:
• Continued rebound in the US and Europe. The risk of recession continues to drop.
• Inflation trending down faster than expected in the US and Europe.
• Rate hikes expected to end soon.
• Business and Tech Sentiment:
• Strong business sentiment in the US.
• Tech outlook continues to improve after earnings season.
• International Politics:
• High-level meetings between US and China officials signal a willingness to prevent further fallout.

The Bad

• China:
• Economic data disappoint.
• Souring business and consumer sentiment, with few signs of stimulus measures.
• Risk of contagion from the property market.
• Europe:
• Lacklustre growth prospects and weak consumer sentiment.
• Social tensions spill over to the streets, while far-right parties gain ground.
• Regulation:
• US-China tech war continues.
• Global regulation against Big Tech becoming more forceful.

The Forecast

• Continued grind upwards, but the worst is behind us.
• Likely to see uplift in forecast in the coming months, but China is a key concern.
• Encouraging economic data in the US and a drop in inflationary pressure to continue, boosting global growth prospects.
• Some potential risks:
• Appetite for consumer tech spending rebound remains weak.
• Interest rates to remain high.
• Fast deteriorating economic outlook in China.
• Continued US-China tensions.
• Russia-Ukraine war.

• Demand/supply rebalancing in tech taking longer than expected.

The Counterpoint Macro Index tracks monthly the environment and sentiment for the global technology industry. We cover four main areas: Consumer Sentiment, General Business Sentiment, Tech Sentiment, and Politics & Policy.

We seek to answer questions on macro trends that is important for decision makers in the tech industry, such as:

  • When can we expect inflation rates to normalize?
  • How much visibility is there for the demand recovery of consumer tech goods?
  • What stage are we at in the tech downturn?
  • How are key stakeholders in the tech industry responding to recent geopolitical events?
  • What areas are being impacted by recent events in the US-China tech war?

Download a sample of the Q2 2023 report below

It includes a regional (US, China, Europe) and segment (Consumer, Business, Tech, and Politics & Policy Sentiment) breakdown of the Index, as well as a ‘Risk-Impact Map’ for the biggest macro issues in the short to medium term.


Fill in the form to download the report:

Q2 2023 Edition

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