Asia Chart Pack Weak growth prompts monetary easing Economic growth slowed nearly everywhere in Asia last quarter. This weakness, alongside low inflation and, in the case of Korea and Australia, worries over currency strength, prompted five central... 22nd May 2013 · 1 min read
UK Economics Update key questions about the IMF’s proposals answered While the diplomatic language of today’s IMF press conference suggested that the Fund had backed down from criticising the Chancellor’s fiscal plans, its statement proposed several initiatives to... 22nd May 2013 · 1 min read
Canada Data Response Retail Sales (Mar.) Despite the healthy 0.7% m/m gain in retail sales volumes in March, earlier reports showing far more tepid increases in manufacturing and wholesale trade suggest that the economy ended the first... 22nd May 2013 · 1 min read
US Housing Market Data Response Existing Home Sales (Apr. 13) The underlying recovery in existing home sales continued in April. But the real news in today’s NAR release was the drop in distressed sales and the gain in the inventory of homes for sale. 22nd May 2013 · 1 min read
Japan Economics Update Bank of Japan sticks to its guns The Bank of Japan’s inaction today was no surprise, nor was Governor Kuroda’s relatively sanguine attitude to the jump in JGB yields. However, the April external trade data were disappointing and the... 22nd May 2013 · 1 min read
Europe Economics Update Current account data not as encouraging as it seems At face value, the ongoing improvement in the euro-zone’s current account position, which has been to a large part down to developments in the peripheral economies, is a sign that the structural... 22nd May 2013 · 1 min read
China Activity Monitor Weak start to Q2 The April reading of the Capital Economics China Activity Proxy (CAP) dampens hope of a quick turnaround in growth this quarter. Worries over avian flu may have played a small part in suppressing... 22nd May 2013 · 1 min read
UK Housing Market Focus Why do estimates of the average house price differ? The discrepancy between estimates of the average house price is essentially due to some measures being close to the mean, while others are closer to the median price. Housing valuations are best... 22nd May 2013 · 1 min read
Middle East & North Africa Chart Pack Gulf growing at a healthy pace Growth in the Gulf economies has held up well over the first few months of this year. Admittedly, the weakness of the global economy is weighing on demand for the region’s hydrocarbon exports. But... 22nd May 2013 · 1 min read
UK Data Response Retail Sales & Pub. Fin. (Apr.), MPC Minutes (May) Today’s data contained some mixed signals on the strength of the economic recovery, with retail sales slumping but with the public finances making a reasonable start to the year. 22nd May 2013 · 1 min read
Europe Economics Update Will the equity rally boost household spending? We doubt that the recent equity market rally, combined with the ongoing downward trend in CPI inflation, will prompt a sustained recovery in euro-zone household spending. Indeed, in the periphery... 21st May 2013 · 1 min read
US Chart Pack Low inflation gives Fed more flexibility The fall in inflation to well below the Fed's 2% target rate is another reason why the central bank will be in no hurry to slow the pace of its monthly asset purchases. Headline CPI inflation fell to... 21st May 2013 · 1 min read
Africa Economics Update Nigeria resists government pressure to cut rates The Central Bank of Nigeria resisted government pressure to cut interest rates this afternoon, but we suspect that a combination of below-trend growth and sub-10% inflation will pave the way for... 21st May 2013 · 1 min read
Emerging Europe Economics Update EM inflation outlook benign As the distortions surrounding Chinese New Year have fallen out of the data, the underlying picture across Emerging Markets is one of weak price pressures. Looking ahead, there are few signs that... 21st May 2013 · 1 min read
Commodities Update Rising mine output to keep copper price weak Global copper mine output is on track to rise rapidly for a second successive year, despite a recent landslide and a tragic tunnel collapse at two of the world’s largest mines (Bingham Canyon and... 21st May 2013 · 1 min read
