UK Housing Market Data Response BBA Mortgage Lending (Mar.) The mortgage market remained in the doldrums in March. Approvals for house purchase data suggest that buyers remained largely inactive in the face of the growing squeeze on household incomes, fragile... 27th April 2011 · 1 min read
Asia Economics Update Korea's resilient growth warrants further policy tightening Korea's economy grew at a faster pace in Q1, broadly in line with expectations. Despite greater uncertainty about global demand, we think policy-makers are right to worry more about inflation than... 27th April 2011 · 1 min read
Europe Economic Outlook Two-speed recovery set to slow The European economic recovery has remained very much of the two-speed variety as the eurozone’s core economies and some countries outside the single currency area have grown robustly, while the... 27th April 2011 · 1 min read
US Economics Focus America may yet embrace trade protection Trade protection is far from an ideal policy, and indeed it carries serious dangers, but in current circumstances it may offer America the only way out of its difficulties. 26th April 2011 · 1 min read
Bank of Japan Watch GDP forecasts to be cut, but not by enough The Bank of Japan’s Policy Board is certain to cut its GDP forecasts for the current fiscal year on Thursday, but not, we think, by enough to reflect the full impact of the recent disaster. Nor are... 26th April 2011 · 1 min read
Emerging Europe Chart Pack Markets shrug off concerns in the euro-zone Each successive stage of the euro-zone crisis has had a progressively smaller impact on financial markets in Emerging Europe, to the extent that this month’s bailout of Portugal barely registered on... 26th April 2011 · 1 min read
Japan Data Response SME Confidence (Apr.) The Shoko Chukin survey of small business conditions in April was released a day earlier than expected, and the results were even worse than projected. The earthquake has clearly taken a heavy toll on... 26th April 2011 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Apr.) Official public finances data for 2010 confirmed that while the core economies are making clear progress to rein in their budget deficits, the periphery’s fiscal problems are far from over. 26th April 2011 · 1 min read
US Housing Market Data Response House Prices (Feb.) House prices have started to drop at a faster pace and on some indices are now falling at rates not seen since the financial crisis. In contrast to most forecasters, we always thought that prices... 26th April 2011 · 1 min read
UK Data Response CBI Industrial Trends Survey (Apr. and Q2) April’s CBI industrial trends survey provided a bit more evidence to suggest that the manufacturing recovery is no longer gaining pace. 26th April 2011 · 1 min read
US Housing Market Data Response New Home Sales (Mar.) We are hopeful that the increase in new home sales in March marks the end of the downward trend that had taken sales to a record low. But with existing homes being sold at much more competitive prices... 25th April 2011 · 1 min read
Asia Economics Weekly Asia's central banks need to continue tightening policy Growing uncertainty about global growth is prompting some policymakers in the region to adopt a “wait and see” approach. However, we think that most of these concerns will soon dissipate. The key... 25th April 2011 · 1 min read
Canada Economics Weekly Economy vulnerable to a commodities correction Sharply higher commodity prices and a runaway Canadian currency are boosting Canada's terms of trade, a key source of growth in incomes and therefore domestic spending. In some cases, specific... 25th April 2011 · 1 min read
Japan Economics Weekly Taking stock: the economic impact of the earthquake In the six weeks since the earthquake, largely survey-based evidence has pointed to a sharp downturn in activity and sentiment in March. A flurry of official data before the Golden Week holidays begin... 25th April 2011 · 1 min read
US Economics Weekly US credit status will remain under threat There are some good reasons why S&P's decision to put America's AAA credit rating on negative watch made more of a splash in the media than in the markets. Admittedly, the fiscal position in the US is... 25th April 2011 · 1 min read
