Financial Outlook: Jack Meaning | Barclays

On September 22, we were delighted to welcome our members to the third Financial Outlook of 2026, hosted by Barclays. We had the privilege of listening to Jack Meaning, Chief U.K. Economist at Barclays. During the breakfast, Jack presented the bank’s latest financial forecast. 

Jack provided an overview of the major themes shaping the current global outlook. He highlighted how global growth has held up reasonably well since 2023, but that it has slowed down this year. He argued that this is unsurprising, given the high tariffs rates we’ve seen and the energy price shocks we’ve experienced. Further, Jack notes that growth is driven by the U.S. economy and concludes that there are two forces steering the economy; the AI-investment boom in the U.S. and many Asian economies, and the energy prize chocks affecting many countries. Jack also talked about fiscal deficits in the U.S. and U.K. and highlighted the importance of the new U.K. budget which is to come in late October. Further, he explained the U.K.’s economic position as similar to the economy in 2011 rather than 2022, and that with inflation outlooks being higher globally, interest rates will rise.  

There were many interesting questions from the audiences, including what the biggest risks and opportunities are. Here, Jack highlighted the escalation of a fractured geopolitical situation and disruptions in supply chains as big risks. On the positive side, Jack was optimistic about AI-investments and how it will cut costs and have a positive effect on productivity.  

We extend our sincere thanks to Jack Meaning for his valuable insights, to Barclays, and team for hosting us at their beautiful office, and to all our members who joined us for an engaging and timely discussion.