Europe Economics Update Euro-zone Fiscal Monitor (Nov.) Recent fiscal data suggest that most of the euro-zone’s peripheral countries have made further progress in reducing their deficits during 2017. 4th December 2017 · 1 min read
Energy Chart Pack OPEC output cuts extension supports oil prices The big news last month was the announcement by OPEC and its allies that they would extend their output cuts until the end of 2018 rather than finishing them in March as had been planned. However, in... 4th December 2017 · 1 min read
Latin America Economics Update More to Brazil FDI flows than meets the eye The resilience of foreign direct investment (FDI) flows to Brazil has been held up as one of the few good news stories of recent years. The reality, however, is far more complicated. While FDI inflows... 4th December 2017 · 1 min read
Europe Data Response Greece GDP (Q3) Q3’s small rise in Greek GDP reflected a surge in exports, while the domestic economy remained very weak. Financial markets will therefore remain wary of lending to the Government and it seems likely... 4th December 2017 · 1 min read
Global Economics Update Credit growing at a healthy pace Monetary and credit conditions remain supportive and should continue to be so, even though the stock of assets purchased under global QE programmes should peak in the coming years. 4th December 2017 · 1 min read
UK Commercial Property Data Response CIPS/Markit Construction PMI (Nov.) November’s increase in the construction PMI was the second consecutive positive surprise. However, that improvement was confined almost exclusively to housing construction. 4th December 2017 · 1 min read
Emerging Europe Economics Update Rapid Czech wage growth to prompt more rate hikes The continued strong run of Czech wage data has been driven by a tightening of labour market conditions. With labour shortages continuing to mount, wage growth is set to remain rapid over the coming... 4th December 2017 · 1 min read
Emerging Markets Economics Update EM manufacturing growth on the rise in Q4 The latest Markit PMI surveys suggest EM manufacturing growth has gained momentum across the emerging world and looks set to end the year on a positive note. 1st December 2017 · 1 min read
UK Economics Update Brexit bill breakthrough is a positive step forward While the UK Government’s revised offer on the financial settlement with the EU is a positive step forwards, it is not sufficient alone to progress negotiations to the next phase. Meanwhile, if... 1st December 2017 · 1 min read
Commodities Weekly OPEC delivers on expectations Commodity prices fell this week, partly owing to weaker activity data from China, which weighed on industrial metals prices. In addition, a stronger dollar put some downward pressure on precious... 1st December 2017 · 1 min read
Global Economics Update Global Manufacturing PMI (Nov.) There has been no let-up in the fast pace of global growth in November. Manufacturing PMIs remained strong and/or increased almost everywhere and the global index is at its highest level since March... 1st December 2017 · 1 min read
UK Economics Weekly Is the gloom on investment justified? A slowdown in investment growth is one of the main factors underpinning the consensus expectation for economic growth to slow in 2018. That comes despite the fact that ordinary drivers of investment... 1st December 2017 · 1 min read
US Data Response ISM Manufacturing Index (Nov.) The small decline in the ISM manufacturing index in November, which mirrors the drop back in the regional Fed surveys and the alternative Markit PMI, still leaves it at an elevated level consistent... 1st December 2017 · 1 min read
Canada Economics Weekly Census data shed more light on low inflation The latest batch of Census data released earlier this week on the labour market cast doubt over the quality of the jobs created since the 2008-09 recession. There are still signs of prime-aged workers... 1st December 2017 · 1 min read
