US Housing Market Data Response New Home Sales (Apr. 13) Another rise in new home sales in March means that February’s unexpected dip has now been almost fully reversed. And with sales up by 29% over the past year, nearly double the 15% growth seen in the... 23rd May 2013 · 1 min read
UK Commercial Property Chart Pack London offices remain the target for overseas buyers The investment market was very quiet in April, with only the office sector seeing a meaningful level of activity. In turn, most of those deals were in Central London, and involved overseas buyers... 23rd May 2013 · 1 min read
Africa Economics Update South Africa: rates on hold as rand plummets The collapse in the rand over the past week or so means that, despite the continued weakness of South Africa’s economy, there is little room for the Reserve Bank to loosen monetary policy. In fact, it... 23rd May 2013 · 1 min read
Emerging Europe Economics Update Russia: thoughts turn to fiscal stimulus The continued weakness of Russia’s economy has led to questions about what policymakers can do to stimulate growth and, with the central bank reluctant to loosen monetary policy, there is a growing... 23rd May 2013 · 1 min read
UK Economics Update Consumer support for growth fades Real household spending continued to support overall GDP growth in Q1, seeing its sixth successive quarterly rise. But it was the weakest rate of expansion in 18 months. And given a softer labour... 23rd May 2013 · 1 min read
Global Markets Update Boost to Nikkei from weaker yen has run its course Today’s slump is not necessarily the end of the bull market in Japanese equities, but the next few months will be much harder going. We continue to expect the Nikkei to fall further, probably below 13... 23rd May 2013 · 1 min read
Non-Euro Europe Commercial Property Outlook Better out than in The outlook for economic growth in the economies outside the single currency region are typically a little brighter than for those within it. Hence we are a little bit more upbeat about near-term... 23rd May 2013 · 1 min read
Europe Commercial Property Outlook Property's stronger start to the year will fade The euro-zone recession shows few signs of easing and we have yet to see its full impact on European property values. At the aggregate level, capital values have been supported by further small falls... 23rd May 2013 · 1 min read
Commodities Update Weak manufacturing data underline downside risks The sub-50 reading for China’s flash manufacturing PMI today shows the fragility of the underlying demand for industrial commodities, including copper and oil, as the economic slowdown there deepens... 23rd May 2013 · 1 min read
Europe Data Response Euro-zone Flash PMIs (May) May’s euro-zone PMI survey adds to the recent run of slightly more encouraging news from the region, but there is little sign that the region is about to emerge from recession. 23rd May 2013 · 1 min read
UK Data Response GDP: Second Estimate & Expenditure Breakdown (Q1 13) The second estimate of Q1 GDP confirmed that the economy enjoyed some modest growth at the beginning of 2013. But it was an increase in inventories that drove expansion. Meanwhile, aspirations for... 23rd May 2013 · 1 min read
China Data Response HSBC/Markit Flash Manufacturing PMI (May 13) Today’s sub-50 reading on the flash PMI will shake the confidence of China’s policymakers, who have remained sanguine in the face of slow growth so far this year. We suspect they will resist the... 23rd May 2013 · 1 min read
Emerging Markets Economics Focus What next for the EM recovery? The recovery in emerging market (EM) growth during the second half of 2012 has faltered since the start of this year. This is due in large part to renewed weakness in the BRIC economies, which we... 23rd May 2013 · 1 min read
Asia Economics Update Singapore avoids Q1 contraction, but strong pick-up unlikely Today’s revised GDP data showed that Singapore's economy expanded in Q1, despite an advanced estimate released in mid-April pointing toward contraction. Nevertheless, weak export growth continues to... 23rd May 2013 · 1 min read
Latin America Economic Outlook Hidden vulnerabilities Latin American GDP growth slowed to its lowest rate since 2009 in the first quarter of this year and, while we expect to see a gradual recovery over the coming quarters, mounting vulnerabilities will... 22nd May 2013 · 1 min read
