China Chart Pack Uneven consumer recovery slowing down Consumer spending jumped during the first two months of the year as virus disruptions faded. The March retail sales data won’t be published for another couple of weeks. But the data we have so far... 3rd April 2023 · 11 mins read
Asia Economics Update Vietnam: expected rate cut, but further easing likely now Vietnam’s central bank lowered its benchmark refinancing rate by 50bp, on Friday evening, citing the need to support the economy. The rate cut was in line with our forecast and we now think the... 3rd April 2023 · 3 mins read
India Data Response Manufacturing PMI (Mar.) India’s manufacturing PMI reading edged up in March and points to healthy growth in the sector. This should provide some added source of comfort to the RBI to hike rates again this Thursday. But the... 3rd April 2023 · 3 mins read
Asia Data Response Manufacturing PMIs & Korea Trade (Mar.) Manufacturing PMIs in Emerging Asia dropped back in March, driven by a fall in the new export orders and employment sub-indices. With global growth set to remain weak in the coming quarters, we expect... 3rd April 2023 · 3 mins read
China Data Response Caixin Manufacturing PMI (Mar.) The Caixin manufacturing index was more downbeat than its official counterpart, especially when it came to export orders. Taken together, the surveys suggest that growth in factory activity dropped... 3rd April 2023 · 2 mins read
Australia & New Zealand Data Response Australia CoreLogic House Prices (Mar.) With housing affordability the most stretched it’s been since the global financial crisis, we don’t think the uptick in house prices in March will be sustained. We’re sticking to our forecast that... 3rd April 2023 · 3 mins read
Japan Data Response Japan BoJ Tankan (Q1 2023) Today’s Tankan survey suggests that while the services sector remains resilient, the outlook for the manufacturing sector has worsened materially. 3rd April 2023 · 3 mins read
Asia Economics Weekly Korean industry struggling, CPTPP+UK Korea’s manufacturing sector is in for a painful year with bloated inventories and weak external demand set to drag on production. Data published earlier today showed that production of semiconductors... 31st March 2023 · 10 mins read
China Economics Weekly Is Brazil joining the renminbi club? China and Brazil are taking steps to allow bilateral trade to be settled in renminbi, another sign of closer ties between the two countries following President Lula’s election. But talk of them... 31st March 2023 · 4 mins read
Australia & New Zealand Economics Weekly Minimum wage will surge again With Australian unions and the government both in agreement on the need to protect low-income workers, we expect a bumper 6% rise in the minimum wage this year. However, given the low share of workers... 31st March 2023 · 5 mins read
India Economics Weekly Russian oil flows, remittances boost, RBI preview The announcement from Russian oil giant Rosneft that it will ramp up oil imports to India, and the US court ruling enabling partners of H-1B visa holders to work in the country, should both serve to... 31st March 2023 · 5 mins read
Japan Economics Weekly Yield Curve Control still on counted time The Bank of Japan faces a dilemma as inflationary pressures are becoming increasingly broad-based at the same time as economic activity is softening. What may tilt the balance towards the ending of... 31st March 2023 · 6 mins read
China Data Response Official PMIs (Mar.) The official PMIs suggest that China’s rapid reopening recovery remained robust this month. The weak global backdrop weighed on manufacturing but services continued to benefit from a resurgence in... 31st March 2023 · 3 mins read
