Japan Data Response Flash Manufacturing PMI (Nov.) The manufacturing PMI climbed to a fresh high in November and suggests that Japan’s economy returned to growth this quarter. 24th November 2015 · 1 min read
US Chart Pack Labour market conditions brighten in October The 271,000 surge in non-farm payrolls last month puts to rest fears that the earlier slowdown could be the start of a worrying downturn. The decline in the unemployment to 5.0% in October leaves it... 23rd November 2015 · 1 min read
Africa Economics Focus The Myth of the “African Middle Class” Oft-repeated claims that an African “middle class” will propel economic growth in the region confuse cause and effect. Most estimates of the size of the region’s middle class rely on poorly drawn... 23rd November 2015 · 1 min read
Canada Economics Weekly Deficit-funded spending plan unlikely to concern investors Canada’s new Federal Finance Minister has indicated that the government will forge ahead with its deficit-funded spending plan in an effort to support a flagging economy. Even if that means running... 20th November 2015 · 1 min read
UK Economics Weekly Inflation to rise more gradually in the UK than US The release of the UK and US inflation figures last week provided a reminder of why the MPC is likely to raise interest rates later than the US Fed. Inflation rates in both economies will pick up... 20th November 2015 · 1 min read
Frontier Markets Wrap Frontier markets scramble as Fed hike approaches Central banks across the world’s frontier markets are preparing themselves as the US Federal Reserve finally moves toward its first rate hike in nine years. Central bankers in Angola, Ghana, Zambia... 20th November 2015 · 1 min read
Europe Economics Weekly Paris tragedy will have limited economic effects It goes without saying that the loss of life and the social impact of the Paris attacks dwarf any consideration of their economic consequences. But we doubt that the near-term economic impact will be... 20th November 2015 · 1 min read
Australia & New Zealand Economics Weekly Wage growth may soon pick-up If the recent improvement in Australia’s labour market is sustained, then wage growth will soon accelerate from its current 17-year low. An increase in productivity growth at the same time would keep... 20th November 2015 · 1 min read
Emerging Markets Economics Chart Pack Commodity price slump produces mixed policy response The slump in commodity prices over the past year has meant central banks in net commodity exporting and importing countries have continued to follow different paths. Despite the hit to growth from... 19th November 2015 · 1 min read
Canada Economics Weekly Alternative employment survey reveals slowdown The fallout from the oil price shock has triggered a significant slowdown in hiring according to the large payroll employment survey, despite evidence to the contrary from the more popular household... 13th November 2015 · 1 min read
Australia & New Zealand Economics Weekly A significant shift in borrowing trends The Reserve Bank of Australia will have been pleased to see more evidence that the housing market is cooling at the same time that the outlook for business investment is improving. If recent trends... 13th November 2015 · 1 min read
US Economics Update JOLT survey shows labour market remains robust The rebound in the job openings rate to 3.7% in September, from 3.6%, illustrates that labour market conditions remain robust. September was also only the second month on record that the job openings... 12th November 2015 · 1 min read
Europe Data Response Swedish Consumer Prices (Oct.) The very low rate of inflation in Sweden in October suggests that the Riksbank will need to put any lingering concerns about household debt to one side and increase its monetary policy support in... 12th November 2015 · 1 min read
Australia & New Zealand Data Response Australia Labour Market (Oct.) The strength of Australia’s labour market in October builds on other evidence that suggests the economy has made some big leaps forward in recent months. It diminishes the chances of further rate cuts... 12th November 2015 · 1 min read
UK Commercial Property Data Response Employment (September) Today’s jobs numbers were slightly higher than we had expected implying that occupier market conditions are still healthy. Indeed, today’s jobs numbers are broadly consistent with our rental growth... 11th November 2015 · 1 min read
UK Data Response Labour market data (Sep./Oct.) Labour market activity is still looking quite healthy. But the slowdown in wage growth in the latest figures confirmed that an interest rate rise is still some way off. 11th November 2015 · 1 min read
