UK Economics Update CBI Distributive Trades Survey (Jul.) Net new lending to commercial property was negative for the 19th consecutive month in June and we do not think that the end of the deleveraging process is in sight yet. But with wider sentiment... 29th 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
UK Economics Update Household Borrowing Monitor (Jun) June’s household borrowing figures showed a continuation of the modest expansion in credit seen in recent months. But with mortgage approvals unexpectedly declining, evidence of a marked rise in... 29th July 2013 · 1 min read
UK Housing Market Data Response Mortgage Lending (Jun.) After three months of gains, the number of mortgages approved for house purchase showed a surprising drop in June. While this is almost certainly a blip, rather than an indication that banks are... 29th July 2013 · 1 min read
BoE Watch MPC to introduce stronger forward guidance The main event this month is likely to be the announcement of formal forward guidance. We expect the Monetary Policy Committee (MPC) to commit to keep official interest rates low until an unemployment... 29th July 2013 · 1 min read
Japan Data Response Retail Sales (Jun.) Today's retail sales figures suggest that consumer spending will again have given a solid boost to GDP growth in Q2. However, sales in June were lower than a month before, and surveys suggest that... 29th July 2013 · 1 min read
Asia Economics Weekly Infrastructure projects key for Thailand’s prospects Government plans in Thailand for a series of huge infrastructure projects have the potential to transform the country’s growth prospects. However, as this Weekly explains, success is by no means... 29th July 2013 · 1 min read
Japan Economics Weekly Is the housing market set to take off? Housing construction should give a boost to the wider economy over coming quarters as low mortgage interest rates support property demand. But Japan’s property market is approaching a turning point... 29th July 2013 · 1 min read
US Economics Weekly Labour market resilient to slowdown in GDP growth Although the recent incoming data have suggested that second-quarter GDP growth could be particularly disappointing, with a sub 1.0% reading possible, we still expect the Fed to begin tapering its... 29th July 2013 · 1 min read
UK Economics Weekly Will the euphoria spur on the recovery? The succession of sporting achievements, the sizzling summer and the Royal baby have supposedly lifted British spirits and fostered hopes that this improved sentiment will give an extra boost to the... 29th July 2013 · 1 min read
Europe Economics Weekly The ECB’s monetary pillar is still very weak Last week’s euro-zone data revealed a further pick-up in some measures of real economic activity, with the composite PMI for July raising the prospect that the region’s two-year recession could come... 29th July 2013 · 1 min read
Canada Economics Weekly Stronger consumption growth unlikely to last The evidence suggests that, after a paltry 0.9% annualised in the first quarter, second-quarter real consumption growth accelerated to 3.0% annualised. Unfortunately, we suspect that consumption... 26th July 2013 · 1 min read
Europe Commercial Property Chart Pack Property yields still holding their ground Despite recent signs that the euro-zone recession is easing, the tone of the latest occupier market data remains soft and there has been no observable upward shift in investment market activity. Even... 26th July 2013 · 1 min read
UK Housing Market Update Housebuilding starts to recover, but so do new-build prices The recent rise in demand for new-build homes, partly driven by Help to Buy, has helped private home starts reach their highest level since the start of the financial crisis. While this is good news... 26th July 2013 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (Jun.) The Land Registry reported that house prices increased by 0.6%m/m in June. But there is scant evidence that house prices are about to take-off - the annual rate stayed in the narrow band of 0.2% to 0... 26th July 2013 · 1 min read
