Global Economics Chart Pack Recovery gains momentum but capacity still ample The business surveys for August suggest that the global recovery, which accelerated in the second quarter, may have strengthened further in Q3. However, there is still plenty of spare capacity around... 6th September 2013 · 1 min read
Nordic & Swiss Data Response Iceland GDP (Q2 13) Icelandic GDP fell sharply in Q2. But behind the headline figure, the data confirmed that the economy is still on the road to recovery, albeit a long and tortuous one. 6th September 2013 · 1 min read
UK Economics Chart Pack Recovery quickens as productivity rebounds The run of positive economic news has continued, with quarterly GDP growth in Q2 revised up to 0.7% and August’s CIPS/Markit PMIs pointing to even stronger growth in Q3. The divergence between output... 4th September 2013 · 1 min read
Europe Chart Pack Consumers leading moderate recovery The euro-zone exited its record-long recession in Q2 and recent business surveys suggest that the economy should expand again in the third quarter. An increase in household spending, the first in... 4th September 2013 · 1 min read
UK Economics Update Monetary Indicators Monitor (Aug 13.) The latest monetary indicators show that bank lending is starting to pick up. But July’s rise in lending is not as good as it seems, since it largely reflected firms swapping bond for bank finance... 30th August 2013 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Jul.) The continued weakness of the euro-zone monetary data in July suggests that the pick-up in the real economy rests on fragile foundations. 28th August 2013 · 1 min read
China Chart Pack NPLs continue to pick up There has been an increase in the value of non-performing loans (NPLs) in the banking system since Q3 2011, as the economy has slowed. At face value, this problem does not yet appear too serious... 15th August 2013 · 1 min read
Emerging Europe Economics Update Turkish growth comes with mounting risks Turkey’s economy has picked up pace over the first half of this year, but this has been fuelled by a sharprise in credit and has come at the expense of a renewed widening of the current account... 15th August 2013 · 1 min read
US Economics Update Monetary Indicators Monitor (Jul.) The Fed's continuing monthly asset purchases haven't prevented a further slowdown in the growth rate of the narrow M1 monetary aggregate, although our measure of the M3 aggregate suggests that broad... 14th August 2013 · 1 min read
China Economics Update Chinese recovery built on weak foundations Today’s data releases provide further evidence that China’s economy is improving. However, the rebound has been driven by investment spending and fuelled by rapid credit growth earlier this year. A... 9th August 2013 · 1 min read
Japan Chart Pack Recovery entering a slower phase Japan’s economy likely continued to grow at a solid pace in the second quarter of the year, even though the recent wide divergence between various measures of consumer spending raises question marks... 6th August 2013 · 1 min read
China Economics Update Is China suffering from deflation? If China has dropped into deflation, as many now claim, one implication is that stimulus would succeed in driving a sustainable economic rebound. But evidence of deflation is weak, at best. This is... 30th July 2013 · 1 min read
UK Economics Update Monetary Indicators Monitor (Jul.) The UK’s monetary indicators continue to paint a mixed picture, with respectable growth in broad money contrasting with further falls in bank lending, particularly to firms as a whole. However, a... 29th July 2013 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Jun.) The further weakening in the key euro-zone monetary aggregates in June has further strengthened the case for additional policy stimulus from the ECB. 25th July 2013 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Jul.) & ECB Bank Lending Survey (Q2) The rise in the euro-zone PMI in July provides further evidence that the region may be exiting recession. But with credit conditions still tight and fiscal policy set to remain contractionary, a... 24th July 2013 · 1 min read
Europe Economics Weekly Mounting strains on the ESM The lending capacity of the euro-zone’s bail-out funds is coming under strain again. €289bn of the ESM’s €500bn lending capacity has already been committed and developments in Portugal, Greece and... 22nd July 2013 · 1 min read
