UK Commercial Property Data Response CIPS/Markit Construction PMI (Aug.) The latest upturn in the commercial construction PMI does little to change the picture of a sector that has come off the boil. As such, it suggests that commercial property development activity is... 2nd September 2015 · 1 min read
Commodities Update Sentiment sinks further Commodity prices continue to ebb and flow at the whim of movements in Chinese equity prices and concerns about a “hard landing” for the economy. Although agricultural prices don’t have the same level... 2nd September 2015 · 1 min read
Australia & New Zealand Data Response Australia GDP (Q2) Australia's economy slowed sharply in the second quarter, increasing the chances that growth will fall short of the Reserve Bank of Australia's forecasts for this year and next. Given this, rate cuts... 2nd September 2015 · 1 min read
Japan Economics Update Nuclear restart not a game changer The impact of the gradual resumption of nuclear energy generation on Japan’s trade balance will be negligible. Nor should we expect a major fall in electricity prices. 2nd September 2015 · 1 min read
Asia Data Response Manufacturing PMIs (Aug.) Emerging Asia's PMIs remained weak in August, suggesting the region’s manufacturing sectors continue to struggle. In the three economies where the PMIs most closely track the hard data, the surveys... 1st September 2015 · 1 min read
Emerging Markets Economics Update Outlook for EM manufacturers deteriorates further August’s PMIs, published earlier today, paint a gloomy picture of the health of the emerging world.Conditions in manufacturing appear to have deteriorated further across a wide swath of EMs last month... 1st September 2015 · 1 min read
Global Economics Update Global Manufacturing PMI (Aug.) Final manufacturing PMIs for August suggest that the pace of global growth has held up fairly well, despite weaker activity in China. 1st September 2015 · 1 min read
US Data Response ISM Manufacturing Index (Aug.) The decline in the ISM manufacturing index to a two-year low of 51.1 in August, from 52.7 in July, reflects the ongoing impact of the dollar’s rapid appreciation and softening global demand... 1st September 2015 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Aug.) The euro-zone’s peripheral economies appear to have strengthened their fiscal positions further at the start of Q3. But this year’s budget targets still look elusive for most. Greece, in particular... 1st September 2015 · 1 min read
Latin America Data Response Brazil & Mexico Manufacturing PMI (Aug.) The drop in August’s manufacturing PMIs from both Brazil and Mexico follows the pattern set in other countries around the globe last month and will feed concerns about a more general downturn in the... 1st September 2015 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Jul.) CoreLogic report that house prices saw a very large rise of 1.5% seasonally-adjusted in July, pushing the annual rate to a 12-month high. Tight market conditions are driving house prices higher, a... 1st September 2015 · 1 min read
Canada Data Response GDP (Q2 2015) The 0.5% annualised decline in second-quarter GDP, following a downward revised contraction in the first quarter, confirmed that the economy slipped into a technical recession in the first half of... 1st September 2015 · 1 min read
Global Economics Update Are central banks really running out of ammunition? The recent panic in global markets has been reflected in a wave of commentary to the effect that monetary policy has lost its power. We disagree. Central banks’ track record on inflation in advanced... 1st September 2015 · 1 min read
Global Economics Update Advanced economy credit growth hits a six-year high The latest monetary data suggest that the pace of growth in the major advanced economies remains solid. Global monetary conditions are likely to remain very loose over the coming years, which in turn... 1st September 2015 · 1 min read
UK Economics Update Household Borrowing Monitor (Jul.) July’s money and credit figures showed a further rise in lending to households and the housing market picking up pace. Even so, there is little to suggest that the strength in consumer spending has... 1st September 2015 · 1 min read
