Asia Economics Update Thailand's economy ended Q2 on a high Bank of Thailand (BoT) monthly indicators for June have confirmed that the economy has bounced back strongly, which is what we always expected would be the case. Exports and manufacturing should... 30th July 2010 · 1 min read
Emerging Europe Chart Pack Biting the fiscal bullet (Jul 10) With the notable exception of Hungary, most countries in Emerging Europe have now started to step up efforts at fiscal consolidation. In particular, the new governments in Slovakia and the Czech... 30th July 2010 · 1 min read
Europe Data Response Euro-zone Flash CPI (Jul.) & Unemployment (Jun.) July’s increase in euro-zone inflation probably reflected developments in energy and food prices, while core inflation remained low. The still high rate of unemployment in the region points to further... 30th July 2010 · 1 min read
UK Housing Market Update Does renewed house-building explain the rise in construction output? The construction industry contributed 0.4 percentage points to the 1.1%q/q growth in GDP in the second quarter of 2010. What’s more, house-building appears to have contributed strongly to the growth... 30th July 2010 · 1 min read
Japan Data Response Activity Data & CPI (Jun.) Today's headline data for June were bad, with the unemployment rate unexpectedly rising from 5.2% to 5.3% and industrial production unexpectedly falling by 1.5% m/m. However, these figures probably... 30th July 2010 · 1 min read
UK Data Response Mortgage Lending (Jun.) The subdued picture of lending activity was reinforced today as mortgage approvals for house purchase recorded their largest fall for five months. Although we doubt approvals will fall significantly... 29th July 2010 · 1 min read
UK Economics Update Monetary Indicators Monitor (Jul.) The recent pick-up in the Monetary Policy Committee’s favoured measure of the money supply may already be fading. Meanwhile, bank lending is still struggling to rise. 29th July 2010 · 1 min read
ECB Watch A more positive tone, but tighter policy is distant The ECB’s decision to tighten future lending criteria and the fact that its bond purchases have ground to a near halt suggest that the Bank is again phasing out its unconventional policy support. The... 29th July 2010 · 1 min read
Emerging Europe Economics Update Is Russia's privatisation plan the real deal? Details of Russia’s plans to raise up to $30bn through the sale of state assets have trickled out over the past day or so. The proposals are good news at the margin, although the renewed emphasis on... 29th July 2010 · 1 min read
Europe Commercial Property Chart Pack Euro-zone investment market recovery under pressure (Jun 10) The gradual recovery in European commercial property investment volumes extended into Q2 2010. As a result, with the exception of Greece, property yields were either stable or fell slightly in all... 29th July 2010 · 1 min read
China Economics Update How significant is the non-performing loan threat? Rising non-performing loan levels are very unlikely to trigger a banking crisis in China, but measures taken to clean up bad debt may hold back economic growth and the pace of rebalancing. 29th July 2010 · 1 min read
UK Data Response Nationwide House Prices (Jul.) The drop in the Nationwide house price index in July was hardly a surprise given the generally downbeat signs from other housing market data over the past few weeks. But it adds to the growing body of... 29th July 2010 · 1 min read
