US Housing Market Data Response Mortgage Applications (Dec.) Weekly data show that the bulk of the gain in mortgage applications for home purchase in the two months to early-December has now been eroded. Nevertheless, looser credit conditions should see... 11th January 2012 · 1 min read
UK Data Response Trade (Nov.) November’s trade figures bucked the trend so far this year of a general improvement in the economic data. 11th January 2012 · 1 min read
Europe Commercial Property Update Rebound in Moscow commercial property prices will stall December’s anti-government protests in Russia will no doubt have put political uncertainty back at the forefront of investors’ minds. Together with the prospect of much weaker economic growth this... 11th January 2012 · 1 min read
Emerging Europe Economics Update Turkey: painful current account adjustment underway On the face of it, the most recent Turkish balance of payments data are encouraging. The current account deficit appears to be narrowing, while capital inflows have held up. But underlying this is the... 11th January 2012 · 1 min read
Latin America Economics Update Venezuela: Devaluation may be delayed until after elections After the Venezuelan government devalued the official exchange rate peg against the dollar in January of both 2010 and 2011, speculation has been mounting that it will do so again soon. But while... 10th January 2012 · 1 min read
Canada Chart Pack Economy likely grew by 2% in fourth quarter Following the rebound in third-quarter GDP, with growth of 3.5% annualised, we estimate that fourth-quarter GDP grew by a more modest 2.0%. Stronger growth in consumption and, to a lesser extent... 10th January 2012 · 1 min read
Emerging Europe Economics Update Hungary starts talks with IMF but obstacles ahead Talks between Hungary and the IMF are now underway. And with recent comments from the government suggesting that it has discarded its objections to accepting IMF help, market sentiment has improved... 10th January 2012 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Dec.) The pick-up in Egypt’s headline inflation in December has increased the likelihood of another rate hike when the central bank’s monetary policy committee (MPC) meets in February. 10th January 2012 · 1 min read
China Data Response Foreign Trade (Dec.) Today’s trade data show an unexpectedly large drop in import growth. This may simply be a correction after a couple of months of relative strength, but it adds to the picture of slowing growth in... 10th January 2012 · 1 min read
Commodities Update Chinese copper imports hit record high in December China’s overall imports of commodities weakened slightly in December but the fourth quarter of last year as a whole was still strong. Indeed, imports of copper hit a record high last month. However... 10th January 2012 · 1 min read
UK Housing Market Data Response RICS Housing Market Survey (Dec.) The latest RICS housing market survey indicated that house prices are likely to remain broadly stable in the first few months of 2012. However, according to the balance of price and sales expectations... 10th January 2012 · 1 min read
UK Data Response UK BRC Retail Sales Monitor (Dec.) & BCC Survey (Q4) The UK data released overnight enjoyed the slightly more upbeat tone seen in the other news on the economy so far this year. 10th January 2012 · 1 min read
Canada Economics Update Business Outlook & Senior Loan Officer Surveys (Q4) The latest quarterly business surveys indicate that, while businesses expect sales growth to slow this year, investment and employment should continue to expand. As such, we remain cautiously... 9th January 2012 · 1 min read
China Economics Update NBS business conditions survey (Q4) China’s largest quarterly business survey shows that confidence among property developers has collapsed. Among firms more generally, it is private companies that – once again – are faring worst. 9th January 2012 · 1 min read
