Australia & New Zealand Data Response Australia Employment (Apr.) The 2,900 drop in Australian employment in April brought to an end a strong run for the country's labour market and pushed up the unemployment rate. Although we would be wary of reading too much into... 7th May 2015 · 1 min read
UK Economics Chart Pack Few signs of election uncertainty undermining recovery Although GDP posted its smallest quarterly rise since 2012 in the first quarter of this year, we doubt that the economy is on the cusp of a renewed slowdown. The business surveys suggest that Q1’s 0.3... 6th May 2015 · 1 min read
UK Housing Market Focus Are high construction costs holding back housebuilding? The latest dip in housing starts has been accompanied by a sharp rise in construction costs. But it is shortages of labour and materials, rather than an increase in their costs, which seems to be... 6th May 2015 · 1 min read
China Economics Update Gains from migration haven’t been exhausted Migration into China’s cities appears to be slowing but the economic gains it has brought are far from drying up. Improvements to agricultural productivity should free up rural labour for years to... 6th May 2015 · 1 min read
Japan Data Response Unemployment, Household Spending, Consumer Prices & Labour Cash Earnings (Mar.) While the labour market continues to tighten, inflation remains near zero and wages are barely rising. The BoJ will have to step up the pace of easing before long. 1st May 2015 · 1 min read
US Employment Report Preview March weakness unlikely to be repeated in April We don't think that the unexpectedly weak 126,000 gain in non-farm payrolls in March signals the start of a deterioration in labour market conditions. Other indicators have remained at robust levels... 30th April 2015 · 1 min read
Latin America Chart Pack Recovery falters The recovery that was seemingly underway in most parts of Latin America towards the end of last year appears to have faltered in recent months. Indeed, our proprietary GDP Tracker suggests that the... 30th April 2015 · 1 min read
Europe Data Response Euro-zone Flash CPI (Apr.) & Unemployment (Mar.) While the recent bout of falling prices in the euro-zone ended in April, the threat of deflation in the currency union has certainly not lifted altogether. 30th April 2015 · 1 min read
Asia Chart Pack Slow out of the blocks Emerging Asia has made a weak start to the year. The headlines have been grabbed by China's slowdown but, a few positive signs from India aside, there has been little cause for cheer around the rest... 29th April 2015 · 1 min read
Japan Data Response Small Business Confidence (Apr.) Small business confidence weakened in April and remains consistent with sluggish activity in the manufacturing sector. 28th April 2015 · 1 min read
Emerging Europe Chart Pack Russia’s economy slumps, growth weakens in Turkey The region’s two largest economies – Russia and Turkey – have continued to struggle over the past month. Russia’s economy appears to have contracted sharply by around 3% y/y in Q1. Meanwhile, we... 27th April 2015 · 1 min read
Canada Economics Weekly Pace of payroll job gains likely to slow The faster pace of payroll job gains might normally be a more trustworthy gauge of labour market trends than the more volatile Labour Force Survey employment figures. The slowdown in real GDP growth... 27th April 2015 · 1 min read
Asia Economics Weekly A manufacturing migration? Rapid wage growth, rising land costs and the appreciation of the renminbi have all helped to make China a less attractive place for low-end manufacturers to operate. Recent trends in foreign direct... 24th April 2015 · 1 min read
Japan Economics Weekly Has QQE really lifted inflation expectations? In contrast to the Bank of Japan, we are far from convinced that QQE has lifted inflation expectations. In fact, wage and price setting behaviour have changed little since the programme was launched... 24th April 2015 · 1 min read
Middle East & North Africa Chart Pack Region’s politics take another twist The conflict in Yemen and an outline nuclear agreement between Iran and the West has thrust the region’s politics back into the spotlight. Although it looks like problems in Yemen are likely to drag... 23rd April 2015 · 1 min read
Emerging Markets Economics Chart Pack EM growth sinks as BRICs woes deepen EM growth appears to have sunk to a post-crisis low of around 4% y/y in the first quarter of this year, driven in large part by a deepening downturn in the BRICs. China has grabbed most of the... 23rd April 2015 · 1 min read
