China Chart Pack Trade war set to escalate The US appears to be on the verge of expanding its tariffs to cover a total of $250bn of Chinese goods, the production of which generates 1.3% of China’s GDP. The proposed $200bn tariff list includes... 17th September 2018 · 1 min read
Canada Economics Weekly NAFTA talks drag on; housing remains vulnerable The NAFTA negotiations between Canada and the US rumbled on this week, with few signs of a breakthrough during what Foreign Affairs Minister Chrystia Freeland described as a “continuous negotiation”... 14th September 2018 · 1 min read
China Data Response Activity & Spending (Aug.) Today’s activity and spending data are a mixed bag. On balance though, they do little to change our view that momentum is weakening and that policy easing won’t put a floor beneath growth for some... 14th September 2018 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Aug.) With RICS survey pointing to falling activity across the board, the housing market’s mid-year respite ended in August. Indeed, leading indicators point to flat or falling mortgage approvals to the end... 13th September 2018 · 1 min read
Middle East & North Africa Economics Update How is Dubai’s economy performing? Economic growth in Dubai appears to have been broadly stable this year despite signs of weakness in the real estate and tourism sectors. The recent fiscal stimulus package and a step-up in... 12th September 2018 · 1 min read
Canada Data Response Teranet House Prices (Aug.) & Cap. Utilisation (Q2) After dropping to a nine-year low in August, house price inflation looks set to rebound in the coming months, but we doubt that turnaround will be sustained. Meanwhile, lower-than-expected capacity... 12th September 2018 · 1 min read
UK Housing Market Data Response Halifax House Prices (Aug.) The Halifax index recorded faster house price inflation in August, but that result is an outlier compared to the other main indices. And looking ahead, with interest rates normalising gradually and no... 7th September 2018 · 1 min read
UK Housing Market Chart Pack Housing market activity stays flat New buyer enquiries, new sales instructions and newly agreed sales all held steady over the month. As a result, there are few reasons to expect a pick-up in either mortgage approvals or transactions... 6th September 2018 · 1 min read
US Housing Market Data Response Mortgage Applications (Aug.) The gradual contraction in mortgage demand continued in August, with applications for both refinancing and home purchase loans seeing month-on-month falls. To date, the drop in home purchase demand... 5th September 2018 · 1 min read
Australia & New Zealand Data Response CoreLogic House Prices (Aug.) With the full effects of tighter credit conditions and rising mortgage rates yet to be felt, the current housing downturn will probably end up being the longest and deepest in Australia’s modern... 3rd September 2018 · 1 min read
UK Housing Market Data Response Nationwide House Prices (Aug.) House price growth cooled to 2% in August, down from 3.2% in January. And with no sign of a pick-up in demand or sales, we expect price gains slow a little further by the end of the year. 31st August 2018 · 1 min read
UK Housing Market Data Response Mortgage Lending (Jul.) July saw a 0.9% drop in mortgage approvals for house purchase, partly reversing the gains seen in May and June. Looking ahead, with house prices high and interest rates set to rise further, lending is... 30th August 2018 · 1 min read
Australia & New Zealand Chart Pack Households holding up well Australian households have been more resilient to low income growth and falling house prices than we expected. After rising by just 0.3% q/q in the first quarter, the solid rises in retail sales in... 29th August 2018 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Jun.) According to the Case-Shiller index, house price growth continued to slow in June. The rise of 6.2% y/y was the smallest annual gain since November 2017. The recent moderation in mortgage applications... 28th August 2018 · 1 min read
UK Housing Market Data Response UK Finance Mortgage Lending (Jul.) Mortgage approvals for house purchase dipped in July, ending a three-month streak of gains. But the big picture is that lending has seen no sustained improvement since 2013. And with high house prices... 24th August 2018 · 1 min read
US Housing Market Data Response FHFA House Prices / New Home Sales (Jun./Jul.) New home sales declined for the second month in a row in July, with a 1.7% m/m drop taking sales to a 10-month low. Housing demand is faltering as buyers have been put off by the lack of affordable... 23rd August 2018 · 1 min read
