UK Economics Focus Sector insight: pubs & restaurants After suffering heavily in the recession, spending in the pubs and restaurants sector is likely to recover even more gradually than overall consumer spending over the next year or two. But within this... 24th October 2012 · 1 min read
UK Data Response CBI Ind. Survey (Oct./Q4) & Mervyn King's Speech Today’s CBI Industrial Trends Survey for October and Q4 brought more gloomy news on the state of demand for manufactured goods. Meanwhile, Mervyn King left the door open to more quantitative easing in... 24th October 2012 · 1 min read
Commodities Update Weak recovery in China, none at all in euro-zone Today’s early indications of economic conditions in October provided mixed signals for commodity markets, with some less-bad news from China offset by a further deterioration in the euro-zone. The... 24th October 2012 · 1 min read
UK Commercial Property Data Response RICS Construction Survey (Q3 12) Today’s RICS data suggest that commercial property developers anticipate occupier demand remaining soft, consistent with mild, near-term falls in IPD all-property rental values. We certainly agree... 24th October 2012 · 1 min read
Europe Data Response Euro-zone Composite PMI & German Ifo Survey (Oct.) October’s euro-zone PMI and German Ifo surveys continued to paint a pretty dismal picture of growth prospects in the region as a whole and confirmed that Germany is also suffering. 24th October 2012 · 1 min read
Latin America Chart Pack Currency concerns start to resurface The strength of local currencies is once again starting to trouble policymakers across Latin America. But while there has been a tendency to blame exchange rate appreciation on a third round of... 24th October 2012 · 1 min read
Bank of Japan Watch New forecasts won’t prompt further asset purchases The main purpose of the Bank of Japan’s PolicyBoard meeting next Tuesday (30th) is for it toupdate its forecasts for GDP and inflation.Historically, policy setting has taken a backseat inthe second... 24th October 2012 · 1 min read
China Data Response HSBC/Markit Flash Manufacturing PMI (Oct. 12) Today’s flash manufacturing PMI from HSBC and Markit provides further signs of a mild recovery in China’s economy. 24th October 2012 · 1 min read
Capital Daily Early indications due on health of key economies in October 24th October 2012 · 1 min read
US Chart Pack Consumers rally, while businesses run scared The US economy has developed something of a split personality lately, with consumer confidence hitting a five-year high, while capital goods orders, an indicator of business investment, fall at a pace... 23rd October 2012 · 1 min read
Canada Economics Update Bank of Canada hawkish bias targets households The Bank of Canada is still saying that its policy rate will need to rise from the current 1%, but there appears to have been a shift in its reasoning for maintaining the tightening bias. Given the... 23rd October 2012 · 1 min read
China Activity Monitor Activity strengthened at end-Q3 The Capital Economics China Activity Proxy (CAP) provides further evidence that the pace of growth in China’s economy accelerated last month. 23rd October 2012 · 1 min read
Canada Data Response Retail Sales (Aug. 12) Despite the 0.3% m/m decline in retail sales volumes in August, the rebounds in both wholesale trade and manufacturing sales suggest that GDP growth increased by a firm 0.2% m/m in August. Nonetheless... 23rd October 2012 · 1 min read
Europe Commercial Property Update What is the outlook for retail rents in Stockholm? Over the next year or so, we think retail rental values in Stockholm will remain flat. Indeed, although we don’t expect consumer spending to contract, growth is likely to be very subdued, especially... 23rd October 2012 · 1 min read
Commodities Update What could the US elections mean for commodities? The outcome of the US Presidential election is unlikely to have a major impact on commodity markets but there may still be some fall-out if Romney wins. Romney’s plan to accelerate energy independence... 23rd October 2012 · 1 min read
UK Commercial Property Chart Pack Modest yield increases continue to undermine capital values All-property initial yields edged up again in September, from 6.34% to 6.36%. As a result, capital values continued to drift lower, down by 0.4%m/m and 3.1%y/y. The drop in September was the 11th... 23rd October 2012 · 1 min read
