Asia Chart Pack Growth falters in Q3 With the exception of Indonesia, Q3 GDP figures published across emerging Asia so far have been weak. Exports have been hit by low demand from the West, and growing fears for the global outlook are... 17th November 2011 · 1 min read
UK Economics Update Little cause for cheer on Northern Rock sale The unprofitable sale of Northern Rock should dent any hopes that the Government will be able to sell profitably its remaining stakes in the other nationalised banks in the near future. 17th November 2011 · 1 min read
UK Economics Chart Pack Labour market downturn worsens The consumer sector remains in a poor state. We continue to expect real household spending to fall by about 3% over the next two years. 17th November 2011 · 1 min read
Emerging Europe Economics Update First thoughts on Hungary's move back to the IMF News that Hungary will commence talks with the IMF on a “new type of cooperation” is clearly a positive step following the turmoil seen in local markets over the past couple of weeks. The forint has... 17th November 2011 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q3) The further fall in the share of households behind on their mortgage in the third quarter is another piece of good news for the housing market. But the delinquency rate remains high and the large... 17th November 2011 · 1 min read
US Housing Market Data Response Housing Starts (Oct.) Housing starts held broadly steady in October, leaving the modest upward trend of recent months intact. But the bigger picture is that starts are on course to total just 600,000 or so in 2011 as a... 17th November 2011 · 1 min read
UK Commercial Property Update What does the fall in export orders mean for industrial rents? The order books of UK manufacturing firms have taken a knock over the past few months and the steadily weakening prospects for the euro-zone suggest that there is worse to come. All else equal, this... 17th November 2011 · 1 min read
Commodities Update Brent-WTI spread returning to reality The gap between the cost of Brent crude and the traditional US benchmark, West Texas Intermediate (WTI), is finally closing, but the episode has been another example of how speculative pressures can... 17th November 2011 · 1 min read
UK Data Response Retail Sales (Oct.) The gap between the cost of Brent crude and the traditional US benchmark, West Texas Intermediate (WTI), is finally closing, but the episode has been another example of how speculative pressures can... 17th November 2011 · 1 min read
Middle East & North Africa Economics Update UAE banks better placed to weather a fresh global crisis The UAE’s banks are better prepared to face the fallout of the euro-zone debt crisis than they were during the financial crisis of 2008. However, lending to the private sector is unlikely to return to... 17th November 2011 · 1 min read
UK Housing Market Update Can high income multiples prevent a further adjustment in house prices? By allowing buyers to bridge the substantial gap between house prices and earnings, the recovery in average income multiples on mortgage lending towards their pre-recession highs has almost certainly... 16th November 2011 · 1 min read
Canada Chart Pack Economy avoids recession this year Third-quarter GDP growth appears to have picked up to about 3.0% annualised, in part due to the rebound in industrial production, which has fully recovered from the temporary supply disruptions and... 16th November 2011 · 1 min read
Global Markets Update What to make of Greece’s bigger “haircut” Details have begun to emerge of the revised debt exchange proposed for Greece. The good news is that a larger haircut will make her debt more manageable, all else equal. The bad news is that all else... 16th November 2011 · 1 min read
UK Economics Update Regional Monitor (Oct.) The latest regional activity surveys suggest that the southern regions of the UK have borne the brunt of the economy’s recent weakness. But there are signs that the North’s outperformance will be... 16th November 2011 · 1 min read
