Asia Economics Update Asian PMIs still point to rapid growth, but for how long? The March manufacturing PMIs for emerging Asia (ex-China) were generally weaker but still signal that exports and industry will keep improving in coming months. Nevertheless, global conditions will... 1st April 2010 · 1 min read
UK Commercial Property Data Response Bank of England Credit Conditions Survey (Q1 2010) The latest Bank of England Credit Conditions Survey suggested that the availability of credit in both the housing and commercial property markets will continue to rise. However, any increases are... 1st April 2010 · 1 min read
UK Data Response CIPS/Markit Manufacturing (Mar.) & Credit Conditions Survey (Q1) The latest manufacturing data suggested that the industrial recovery is progressing nicely. But the Bank of England’s credit conditions survey did little to alter our view that a prolonged period of... 1st April 2010 · 1 min read
China Data Response PMIs (Mar.) Both of China’s purchasing managers indices are back at a level consistent with rapid output growth, while the price components give no cause for concern about inflation. 1st April 2010 · 1 min read
ECB Watch Maintaining a dovish tone The ECB is unlikely to make any major decisions at its April meeting after taking a big step towards phasing out unconventional policy support in March. While the Bank will argue that measures to... 1st April 2010 · 1 min read
Latin America Economics Focus Earthquake unlikely to derail Chilean economy Following the devastating earthquake in Chile on 27th February we have revisited our economic forecasts. But while activity in the hardest hit region of Bío-Bío has been heavily affected, we think... 1st April 2010 · 1 min read
Europe Commercial Property Update Greek and Portuguese rental forecasts downgraded We have cut our forecasts for rental value growth in Greece and Portugal over the next two years by around 6% and 4% respectively. The cuts reflect downgrades to our GDP growth forecasts. Our rental... 1st April 2010 · 1 min read
BoE Watch MPC to hold fire while inflation remains high With the Monetary Policy Committee (MPC) still waiting to see how the effects of its past asset purchases pan out, no change in policy is likely this month. The MPC’s fears of a rise in inflation... 1st April 2010 · 1 min read
Japan Data Response Tankan Survey (Mar) The Bank of Japan's quarterly Tankan survey revealed little that was not already clear from the improvements in the monthly data. The relative pessimism of small firms is a concern, but the Shoko... 1st April 2010 · 1 min read
China Economics Update Wider renminbi band would be largely symbolic Chinese policymakers are reportedly close to agreement on the next step in exchange rate reform: a widening of the renminbi’s trading band with the dollar. This would be a sensible move, but its... 31st March 2010 · 1 min read
Emerging Europe Economics Focus Spring elections to spotlight fiscal frailties Forthcoming elections in Hungary and the Czech Republic are likely to spotlight fiscal frailties in both countries. As ever, the risks remain greatest in Hungary. But the likelihood of a weak... 31st March 2010 · 1 min read
UK Economics Chart Pack Recovery still looking sluggish The economy has bounced back somewhat since the weakness at the start of the year, suggesting that much of it was just a temporary response to the snow and VAT rise. But the housing and consumer... 31st March 2010 · 1 min read
Europe Commercial Property Update German labour market could weaken but offices will be unscathed While March’s fall in German unemployment was welcome news, we suspect that renewed rises lie ahead this year as ‘kurzarbeit’ subsidies begin to expire for many workers. However, given that most of... 31st March 2010 · 1 min read
Global Markets Update Is the new pricing system for iron ore such a big deal? 31st March 2010 · 1 min read
