Europe Data Response Euro-zone Retail Sales (Apr.) April’s pick-up in euro-zone retail sales may look like an encouraging sign that euro-zone consumers are defying the fiscal squeeze. But the bounce is likely to have been a one-off boosted by Easter... 7th June 2011 · 1 min read
UK Commercial Property Data Response Mergers and Acquisitions Activity (Q1) The rise in the value of mergers and acquisitions (M&A) activity involving UK firms reported in Q1 flatters the underlying picture. The sharp decline in the number of deals concluded implies that a... 7th June 2011 · 1 min read
UK Data Response Halifax House Prices (May) The latest small rise in the Halifax house price index does little to change the bigger picture that prices on this measure are trending lower. Given the struggling economic recovery and the fact that... 7th June 2011 · 1 min read
Canada Economics Update Federal Budget 2011 The new Conservative majority government now aims to tackle its updated C$36.2bn deficit essentially over four years, which we think will prove far too optimistic. A global economic slowdown, a drop... 6th June 2011 · 1 min read
Commodities Update Will commodity prices get a further boost from QE3? The dark cloud over the US economy has had a small silver lining for commodity prices in the form of renewed expectations of yet another bout of quantitative easing from the Fed and a lower dollar... 6th June 2011 · 1 min read
Global Markets Update What next for Japan's stock market? Overseas investors appear to have lost their appetite for Japanese equities after a lengthy buying spree. This has presumably been due to the continued underperformance of Japan’s stock market despite... 6th June 2011 · 1 min read
Asia Economics Update Pakistan's fiscal target may prove difficult to achieve Pakistan’s federal budget was announced late last week with the aim to narrow the chronic fiscal deficit. The government is rightly looking to broaden the tax base and scale back subsidies, but... 6th June 2011 · 1 min read
Middle East & North Africa Data Response UAE HSBC/Markit PMI (May) May’s PMI data show that, even though the pace of growth has slowed from April, the UAE’s non-oil private sector is still growing at a healthy rate. However, employment growth is not yet reflecting... 6th June 2011 · 1 min read
Canada Chart Pack Export recovery lacks volume Canada's gradual export recovery, particularly in terms of volumes, reflects the fragile US economic turnaround and the runaway Canadian dollar; which has been pushed up in the wake of the commodities... 6th June 2011 · 1 min read
Europe Commercial Property Update Spanish commercial property investment market not out of the woods The Q1 2011 RICS distressed property monitor points to the largest rises in the number of distressed properties coming onto the market in Q2 in Spain and Ireland. Investment demand in Ireland will not... 6th June 2011 · 1 min read
Latin America Economics Update Humala wins Peruvian presidential election Ollanta Humala, the left-wing candidate, appears to have triumphed in yesterday’s Peruvian presidential election. With investors concerned that he will now set about unpicking market-friendly economic... 6th June 2011 · 1 min read
Middle East & North Africa Data Response Saudi Arabia HSBC/Markit PMI (May) May’s PMI data show that employment in Saudi Arabia’s non-oil private sector grew at its fastest rate since the end of 2009. Meanwhile, exports grew rapidly in May, which is most likely due to a boost... 6th June 2011 · 1 min read
BoE Watch Threat of rate rise receding There is little chance of an interest rate rise this month. Last month’s Inflation Report did not suggest that an imminent rate hike was required. And the economic data have retained a fairly soft... 6th June 2011 · 1 min read
Emerging Europe Economics Update Banks edging back to health, but beware of the hidden risks The past few months have brought further signs that, after a torrid couple of years, the region’s banking sector is starting to find its feet. But credit growth is likely to remain subdued across most... 6th June 2011 · 1 min read
Canada Economics Weekly Budget unlikely to differ much from first version If the Bank of Canada was trying to hint in last week's statement that a rate hike might be on the way then that message was largely drowned out by the unrelenting flow of weak economic data coming... 6th June 2011 · 1 min read
Japan Economics Weekly Auto sector moving up a gear Japan’s automotive industry was, as we know, hit extremely hard by the March earthquake. Domestic demand collapsed while overseas sales shrank due to a shortage of supply. But both these constraints... 6th June 2011 · 1 min read
