UK Housing Market Data Response Mortgage Lending (Sep.) Today’s fall in mortgage approvals is consistent with other evidence that household finances are under strain and confidence is very weak. It looks as though the modest recovery in mortgage lending... 31st October 2011 · 1 min read
UK Commercial Property Data Response Lending to commercial property (Sep.) In Q3, net commercial property lending flows dipped back into negative territory. Given lenders’ high exposure to the sector, along with the rapidly weakening economic backdrop, there seems little... 31st October 2011 · 1 min read
Middle East & North Africa Data Response Saudi Arabia HSBC/Markit PMI (Oct) October’s PMI data show that growth in Saudi Arabia’s non-oil private sector is stabilising, albeit at a slower pace than that seen earlier in the year. 31st October 2011 · 1 min read
Asia Economics Weekly How vulnerable is Asia to another financial crisis? Despite the deal agreed by European leaders last week, we are far from sanguine about prospects for the euro-zone and expect further turmoil in global financial markets. In the event of another... 31st October 2011 · 1 min read
US Economics Weekly Faster GDP growth won't be sustained The acceleration in third-quarter GDP growth to 2.5% annualised, from 1.3%, seemed to make a mockery of fears that emerged early in the quarter that the economy was entering a recession. Nevertheless... 31st October 2011 · 1 min read
UK Economics Weekly Rebalancing knocked off course On the face of it, hopes that the UK economy is finally ‘rebalancing’ were given a shot in the arm last week with the release of the Economic Accounts and Balance of Payments figures. However, a... 31st October 2011 · 1 min read
Japan Economics Weekly Disappointing end to an unimpressive Q3 Monthly data for September indicated a disappointing end to an unimpressive third quarter: industrial output and retail spending fell every month of the quarter while inflation turned positive for the... 31st October 2011 · 1 min read
Canada Economics Weekly New forecast consensus still too high Although most private-sector forecasters have revised down their GDP forecasts for Canada, they still seem too high to us. The latest surveys show that consensus expectations for real GDP growth over... 31st October 2011 · 1 min read
Europe Economics Weekly Policymakers fail to get ahead The plans agreed at last week’s EU summit look like another example of policymakers sprinting to catch up with events, but failing to get decisively ahead. We are not suggesting that the positive... 31st October 2011 · 1 min read
Global Markets Update Chinese whispers alone won't save the euro Despite yet another round of speculation suggesting that China is about to ride to the rescue of the euro-zone, Europe will still have to solve its own problems. Meaningful Chinese support would... 29th October 2011 · 1 min read
UK Housing Market Update Is London’s outperformance built on flimsy foundations? London has been reliant on a handful of the most expensive boroughs to deliver positive house price growth over the past year. To our minds, that leaves house prices in the capital looking susceptible... 29th October 2011 · 1 min read
Global Markets Outlook Too little, too late We do not expect the recent respite for risky assets to last. The outlook for the advanced economies is bleak and the growth rate of corporate earnings is set to slow. Investors’ enthusiasm for risk... 29th October 2011 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (Sep.) With few bright spots in the wider economic recovery, the marginal pace of house price falls recorded in September is only likely to increase moving into next year. 29th October 2011 · 1 min read
Commodities Update Copper bottomed? The price of copper has rallied by 20% in the past week, to over $8,000 per tonne, following its earlier steep decline. But we believe this rebound is a false dawn and continue to expect the price of... 29th October 2011 · 1 min read
Latin America Chart Pack Growth slows in the “big two” Growth has slowed sharply in Brazil and Mexico – Latin America’s two largest economies – over the past quarter. In Brazil, there are tentative signs that a two-year boom in domestic demand has started... 29th October 2011 · 1 min read
