Latin America Economics Update Mexican economy gaining momentum The fact that the annual rate of Mexican GDP growth slowed to just 1.6% in the second quarter (from 1.9% in Q1) will probably grab the headlines, but the bigger picture is that q/q growth accelerated... 21st August 2014 · 1 min read
Europe Commercial Property Update Weak economic data suggest euro-zone rental upturn not imminent Recent, disappointing euro-zone economic data reaffirm our view that a meaningful, demand-driven commercial property rental upturn is not yet on the horizon. Given a looming floor for yields, this... 21st August 2014 · 1 min read
Europe Economics Update Norwegian GDP (Q2) Q2’s sharp rise in Norwegian GDP made imminent policy action by the Norges Bank look very unlikely. But we still expect the Bank to cut interest rates next year as the krone strengthens further and... 21st August 2014 · 1 min read
Middle East & North Africa Economics Update Saudi growth slows on weakness in oil sector Our GDP Tracker suggests that growth in the Saudi economy slowed to around 4.3% y/y in Q2 from 4.7% y/y in Q1. This was driven by weakness in the oil sector, but it looks like growth in the non-oil... 21st August 2014 · 1 min read
UK Commercial Property Chart Pack A hot summer for investment transactions Investment market activity was strong again last month, with the total value of deals (£12.3bn) over June and July the highest in a two-month period for more than a decade. Notable deals in July... 21st August 2014 · 1 min read
Commodities Update Demand worries continue to cloud near-term outlook The flash PMIs for China and the euro-zone in August are perhaps not as worrying as some of the headlines might suggest, but they do underline the downside risks to commodity demand from Asia and... 21st August 2014 · 1 min read
Emerging Europe Economics Update Ukraine’s private debt a bigger risk than its public debt There are rising concerns about the sustainability of Ukraine’s public debt and the possibility that the government may be forced to default. We agree that Ukraine’s public finances are in a mess... 21st August 2014 · 1 min read
Asia Economics Update Emerging Asia has less to fear from Fed tightening The trend over the past year in most of Emerging Asia has been towards bigger current account surpluses or smaller deficits. This should make their currencies less vulnerable to any negative shifts in... 21st August 2014 · 1 min read
UK Data Response Retail Sales & Public Finances (Jul.) July’s retail sales figures provided reassurance that consumers are still willing tospend more even though an interest rate hike is looming. Meanwhile, July’s publicfinances showed that the fiscal... 21st August 2014 · 1 min read
UK Housing Market Data Response Housebuilding (Q2) The marginal gain in housing starts in the second quarter suggests that material and labour shortages are constraining housebuilders’ output. Despite the impetus from the Help to Buy equity loan... 21st August 2014 · 1 min read
US Economics Update Fed moving closer to rate hike The minutes of the FOMC meeting that took place at the end of July suggest that the Fed has takenanother step closer towards raising interest rates. This is consistent with our view that “lift-off”... 21st August 2014 · 1 min read
Emerging Markets Economics Chart Pack Emerging Asia pulls ahead Growth in the emerging world has remained stuck at around 4.5% y/y in recent months, but the aggregate number masks a recent divergence in regional performance. Growth has slowed in Latin America and... 21st August 2014 · 1 min read
China Data Response HSBC/Markit Flash Manufacturing PMI (Aug.) Today's PMI reading points to cooling conditions in the manufacturing sector on the back of moderating policy support and weak lending activity last month. But with lending set to recover this month... 21st August 2014 · 1 min read
Japan Data Response Flash Manufacturing PMI (August) The improvement in the flash manufacturing PMI in August suggests that the sector has come back to life. 21st August 2014 · 1 min read
Nordic & Swiss Data Response Norwegian GDP (Q2 14) Q2’s sharp rise in Norwegian GDP made imminent policy action by the Norges Bank look very unlikely. But we still expect the Bank to cut interest rates next year as the krone strengthens further and... 21st August 2014 · 1 min read
UK Markets Chart Pack Markets unfazed by split MPC vote The frequently changing tone of the MPC’s communications has continued to buffet UK markets.However, the net effect of the dovish Inflation Report, the Governor’s more hawkish press commentslast... 20th August 2014 · 1 min read
