UK Commercial Property Data Response CIPS/Markit Construction PMI (Mar) In February, the CIPS/Markit construction PMI hit its highest level since last June, driven primarily by a surge in residential construction activity. However, activity in the commercial property... 4th April 2011 · 1 min read
UK Economics Update Next wave of fiscal tightening hits households The next wave of the fiscal consolidation will hit households this week on so-called “worse off Wednesday”, the first day of the new financial year. We expect the net impact of the main measures... 4th April 2011 · 1 min read
UK Housing Market Chart Pack Subdued activity suggests price stability is unlikely to last Last month’s housing market news-flow may have been slightly more positive than of late, but it didn’t change the underlying picture of a market that remains severely depressed. And if unemployment... 4th April 2011 · 1 min read
Asia Economics Weekly Reserve Bank of Australia's pause to continue in April The Reserve Bank of Australia (RBA) is likely to keep its cash rate on hold at 4.75% on Tuesday. Natural disasters, both local and overseas, have created an element of uncertainty and will probably... 4th April 2011 · 1 min read
Canada Economics Weekly Fiscal stresses mean no big election giveaways Campaigning for the Federal election on May 2nd got well underway last week, with most of the major parties unveiling new economic policy initiatives. The bottom line is that the focus is still on... 4th April 2011 · 1 min read
Japan Economics Weekly Risk of fiscal crisis growing Some commentators have argued that Japan’s ability to sell assets or print money to service its government debt means it makes no sense to worry about a “fiscal crisis”. The chances that the Japanese... 4th April 2011 · 1 min read
US Economics Weekly What will the end of QE2 mean for the markets? In contrast to the widespread view that Treasury yields will jump once the Fed concludes its second round of asset purchases, we think that yields could actually fall. It is even possible that the end... 4th April 2011 · 1 min read
UK Economics Weekly Slow progress on re-balancing Last week’s news suggested that the UK economy is still making little progress on the rebalancing that is needed to pave the way for a strong and sustainable recovery. 4th April 2011 · 1 min read
Europe Economics Weekly Inflation worries will ease in time Last week’s major euro-zone data releases will have done nothing to ease the ECB’s fears about inflation. March’s rise in headline CPI inflation will be particularly worrying, given that it may have... 4th April 2011 · 1 min read
Latin America Economics Update Brazil: 'Two-speed' growth concerns have not gone away The sharp jump in Brazilian industrial production in February, coupled with the rise in the March’s trade surplus, should help to ease concerns about the unbalanced nature of recent growth and will no... 1st April 2011 · 1 min read
Asia Economics Update Asia's manufacturing growth slow Manufacturing PMIs for March, released overnight and today, remained buoyant for India, but declined in Korea, Taiwan and dropped even more sharply in Australia. New export orders accelerated for both... 1st April 2011 · 1 min read
US Data Response Employment Report (Mar.) Conditions in the labour market are finally starting to show signs of meaningful improvement. Non-farm payrolls increased by a healthy 216,000 last month, slightly above the consensus forecast for a... 1st April 2011 · 1 min read
US Data Response ISM Manufacturing Index (Mar.) The trivial drop back in the ISM manufacturing index to 61.2 in March, from 61.4, still leaves it at a level consistent with GDP growth of more than 5% annualised. Actual growth will be lower than... 1st April 2011 · 1 min read
Emerging Europe Economics Update Industry remains in good shape March’s PMI data from across Emerging Europe were a mixed bag, but the bigger picture is that the region’s manufacturing recovery remains in good shape. Industry will remain the principal engine of... 1st April 2011 · 1 min read
China Data Response PMIs (Mar.) China’s official PMI rose in March but, when seasonal factors are taken into account, both it and the alternative index from Markit/HSBC are consistent with the idea that growth has slowed moderately... 1st April 2011 · 1 min read
