Europe Economics Update What’s left in the ECB toolbox for SMEs? Reviving lending to small and medium-sized enterprises is crucial for the euro-zone’s prospects given the importance of these firms to the region, particularly in the periphery. Indeed, ECB President... 13th March 2013 · 1 min read
UK Economics Update Budget 2013 – Can the Chancellor kick-start homebuilding? Further measures to boost homebuilding will reportedly form part of next week’s Budget. But past attempts have had little success. So what more could the Chancellor do, and with what effect? 13th March 2013 · 1 min read
US Fed Watch Fed unlikely to taper QE3 soon We don’t expect that the recent improvement in labour market conditions and growing concerns over the costs of ultra-loose monetary policy will prompt the Fed to reduce the size of its monthly asset... 13th March 2013 · 1 min read
Canada Economics Update Housing downturn gathering force The downward trend in both existing home sales and housing starts indicates that the housing slowdown is unfortunately becoming more broad-based. As demand and supply imbalances intensify this year... 13th March 2013 · 1 min read
Europe Economics Update Is austerity working after all? Despite concerns that austerity is not working in the euro-zone, most of the region’s peripheral economies managed to reduce their budget deficits in 2012. But fiscal progress has been slower than... 13th March 2013 · 1 min read
UK Economics Update Older workers offer a mixed blessing The UK’s impressive employment performance has been driven in large part by a dramatic rise in employment among elderly people. This is a desirable development in light of the UK’s ageing population... 13th March 2013 · 1 min read
Europe Data Response Euro-zone Industrial Production (Jan.) January’s fall in euro-zone industrial production is a timely reminder that, despite the improvement in business and financial market sentiment, the region is likely to have remained in recession in... 13th March 2013 · 1 min read
Canada Economics Update Lower inflation may further delay return to fiscal balance Concerns about when governments will meet their budget deficit elimination goals have mostly centred on rosy consensus real GDP growth forecasts. But lower inflation could also result in even longer... 13th March 2013 · 1 min read
Capital Daily Commodity prices not the only signal of economic fragility 13th March 2013 · 1 min read
Japan Economics Update Business and consumer surveys up but details not so good The improvements in the headline indices from the government’s quarterly Business Outlook Survey and the latest monthly report on consumer confidence provide further evidence that Japan’s economy is... 13th March 2013 · 1 min read
US Data Response Retail Sales (Feb. 13) February’s retail sales figures suggest that, so far at least, households are coping well with the burden of more taxation and higher gasoline prices. It now looks as though consumption growth in the... 13th March 2013 · 1 min read
US Economics Update Labour market improvement falling short of “substantial” The recent strengthening in the labour market is encouraging, but today’s news on the rates at which workers are being hired and are quitting is further evidence that it falls short of the... 12th March 2013 · 1 min read
Global Economics Chart Pack US pulling further ahead The US recovery has gained momentum over the past month, but tentative signs of improvement elsewhere have already faded, as shown most clearly by the latest business surveys. The US looks set to pull... 12th March 2013 · 1 min read
UK Economics Update Switch to CPIH could form part of framework changes Two new inflation measures, CPIH and RPIJ, are being introduced this month. A switch in the targeted measure of inflation could be part of any shake-up of the monetary framework, although it is likely... 12th March 2013 · 1 min read
Europe Economics Update Is Italy really on autopilot? We are not fully convinced by the argument espoused by Mario Draghi that Italian fiscal policy is on “automatic pilot” and that the budget deficit will narrow regardless of who eventually takes power... 12th March 2013 · 1 min read
UK Data Response Industrial Production & Trade (Jan.) January’s official industrial and trade figures suggested that the economy is still struggling to rebalance and indicated that the risk of a further contraction in GDP in Q1 remains high. 12th March 2013 · 1 min read
