UK Commercial Property Data Response RICS Commercial Property Market Survey (Q2) The latest RICS survey suggests that, for now, occupier demand is proving resilient to the slowdown in the wider economy. That said, outside the Central London office market, there was little to... 29th July 2011 · 1 min read
Japan Economics Update Strength in retail sales unlikely to last Retail sales in Japan surprised on the upside in June and will provide a small boost to GDP. Temporary factors, including a last-minute surge in demand for digital televisions in June, will diminish... 29th July 2011 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Jul.) The latest ECB Bank lending survey suggests that conditions in the euro-zone banking sector remain far from normal, supporting our view that domestic demand in the region as a whole will struggle to... 29th July 2011 · 1 min read
Latin America Economics Focus Is Latin America wasting its commodities windfall? The fact that Latin America is spending its windfall from higher commodity prices is good news for the global economy, but carries significant risks for the region itself. In the near term the big... 29th July 2011 · 1 min read
US Data Response Durable Goods Orders (June.) The fall in durable goods orders in June confirms that the US economy is still struggling. But the numbers do not alter our estimate that annualised GDP growth in the second quarter was 2.3%, slightly... 28th July 2011 · 1 min read
Asia Economics Update Korea’s growth slows, but policymakers will focus on inflation Today’s Q2 GDP data from Korea confirm that the economy grew at a slower pace in the second quarter than it did in the first. Nonetheless, we believe that Korea’s policymakers will continue to focus... 28th July 2011 · 1 min read
Commodities Update Are all commodities safe havens? The prices of gold and silver are obvious beneficiaries of the increasing worries about US government debt. But other commodities have also held up rather better than might have been expected... 28th July 2011 · 1 min read
UK Data Response CBI Industrial Trends Survey (Jul. and Q3) July’s CBI Industrial Trends survey suggested that manufacturing output has failed to bounce back after the sequence of disruptions that dragged it down in the second quarter. Accordingly, the survey... 28th July 2011 · 1 min read
Europe Data Response German Flash CPI (Jul.) & Euro-zone M3 (Jun.) July’s rise in German CPI inflation appears to have been driven by energy prices. Underlying price pressures remain subdued and with the economic recovery already slowing, there is little risk of a... 28th July 2011 · 1 min read
Latin America Chart Pack Interest rates close to peaking Policymakers in most of Latin America’s inflation-targeting countries have begun to signal an end to the current cycle of monetary tightening. In the very near term, we still expect the combination of... 28th July 2011 · 1 min read
Middle East & North Africa Economics Update What is the impact of Saudi Arabia’s aid to Jordan? Saudi Arabia’s additional $1 billion in aid to Jordan will help to avert a short-term fiscal crisis in the resource-poor country. But we are more concerned that this aid will lead to government... 27th July 2011 · 1 min read
US Data Response Consumer Confidence (Jul.) The slight rebound in the Conference Board measure of consumer confidence, to 59.5 in July from 57.6 in June, is a bit bizarre given that all the other measures of confidence have recently fallen... 27th July 2011 · 1 min read
Europe Economic Outlook Crisis deepens as slowdown spreads to the core The latest rescue package for Greece has reduced the threat of a near-term catastrophe in the eurozone.But it does not address the fundamental problems facing Greece itself and is unlikely to bring an... 27th July 2011 · 1 min read
Emerging Europe Economics Update Next move in Hungarian rates should still be down The National Bank of Hungary is in a bind. On the one hand, growth remains pretty sluggish. But on the other, the high level of Swiss franc-denominated household debt limits the scope for, and the... 27th July 2011 · 1 min read
