Japan Economics Update Export jump in June supports recovery The rapid rise in Japanese exports in June adds to the evidence that production continued to recover quickly in Q2. In Q3 it is likely the pace of the recovery will slow as growth in the global... 22nd July 2011 · 1 min read
China Data Response HSBC/Markit Flash PMI (Jul.) Today’s flash estimate of July’s manufacturing PMI from HSBC/Markit puts a dent in the more confident outlook resulting from last week’s better-than-expected figures on Q2 GDP. But there are a couple... 22nd July 2011 · 1 min read
UK Data Response Retail Sales & Public Finances (Jun.) The official measure of retail sales rebounded a bit in June, but the underlying trend remains broadly flat. Meanwhile, “Plan A” still seems to be struggling to deliver the planned falls in public... 22nd July 2011 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Jul.) The sharp fall in the flash euro-zone PMI in July provides further signs that slowing export growth and the debt crisis is starting to take a heavy toll on the region’s economic recovery both in the... 22nd July 2011 · 1 min read
Japan Chart Pack Recovery levelling off The economy showed further signs of recovery from the earthquake-induced slump at it approached the end of the second quarter. Looking ahead to Q3, survey based measures suggest the recovery is... 22nd July 2011 · 1 min read
Commodities Update PMI signals Chinese demand still losing momentum The ongoing deceleration in China’s economy signalled by the flash PMI for July should offset at least some of the reassurance provided to commodity markets by the seemingly robust official data on... 22nd July 2011 · 1 min read
China Activity Monitor Growth bottoming out The Capital Economics China Activity Proxy (CAP) suggest that economic growth picked up slightly at the end of Q2, after slowing from the start of the year. 21st July 2011 · 1 min read
China Activity Monitor Growth bottoming out The Capital Economics China Activity Proxy (CAP) suggests that economic growth picked up slightly at the end of Q2, after slowing from the start of the year. 21st July 2011 · 1 min read
US Economics Update Plenty of deficit reduction plans, but still no agreement An agreement to raise the debt ceiling still appears to be some way off, but not for lack of trying. Every day seems to bring a new deficit reduction plan. With the clock ticking, we doubt there is... 21st July 2011 · 1 min read
Europe Economics Update Greece needs much more than a bank levy News that a bank levy may be used to help fund Greece’s second rescue package suggests that eurozone policymakers are more concerned about appeasing taxpayers than adopting bold and decisive measures... 21st July 2011 · 1 min read
US Housing Market Data Response Existing Home Sales (Jun.) The further fall in the number of existing home sales in June, to 4.77m from 4.81m in May, suggests that the recent deterioration in economic conditions has already hit the housing market. 21st July 2011 · 1 min read
Europe Commercial Property Update Will the franc derail the Swiss occupier market recovery? It looks increasingly likely that the sovereign debt crisis in the euro-zone will take a heavy toll on the Swiss economy. As a result, the emerging recovery in Swiss commercial property rental values... 21st July 2011 · 1 min read
UK Markets Chart Pack Gilts yields fall on recovery fears and safe-haven demand The continued drop in gilt yields over the last month has partly reflected the further fall in interest rate expectations as a result of the weakness of data on the UK economy. But the fall in gilt... 21st July 2011 · 1 min read
China Chart Pack Still-rising pork prices add to near-term inflation risks Pork prices continued to rise in the first half of July. But the pace at which they are rising has slowed. Pig numbers are picking up – helped in part by high prices – and the government is releasing... 21st July 2011 · 1 min read
UK Commercial Property Update Can we trust the message from real estate equity prices? Trends in real estate equity prices point to gains in IPD all-property capital values for 2011 as a whole of about 10%. That is far too optimistic. But to the extent that real estate equities are... 21st July 2011 · 1 min read
