Our calculations suggest that GDP growth accelerated a little to 2.3% annualised in the second quarter, from 1.9% in the first, despite the fact that consumption growth apparently slowed to less than...

A downgrade of US government debt would not necessarily be disastrous for Treasuries or the dollar, at least once the dust settled. However, it would be the starkest warning yet that the fall-out from...

An agreement to raise the debt ceiling still appears to be some way off, but not for lack of trying. Every day seems to bring a new deficit reduction plan. With the clock ticking, we doubt there is...

The annual growth rate of our own Capital Economics measure of the M3 aggregate hit a two-year high of 4.9% in June, while the growth rates of both M1 and M2 continued to rise as well.