UK Data Response National Accounts & Balance of Payments (Q2.) The most interesting element of the National Accounts was the sweeping revisions to the data, including the implementation of the ONS’ annual methodological overhaul, which suggests households’... 29th September 2017 · 1 min read
UK Commercial Property Data Response Lending to commercial property (Aug.) Net lending to commercial property contracted for a third consecutive month. While the fall was primarily down to standing investments, riskier development lending was in the red too. 29th September 2017 · 1 min read
Europe Data Response Euro-zone Flash CPI (Sep.) September’s weaker-than-expected euro-zone inflation data won’t stop the ECB from announcing in October its plan to taper its asset purchases next year. But the data suggest that the Bank will proceed... 29th September 2017 · 1 min read
UK Housing Market Data Response Mortgage Lending/Nationwide House Prices (Aug/Sep) Mortgage approvals fell back in August and their sustained weakness is taking its toll on house price inflation, which has more than halved since the turn of the year. 29th September 2017 · 1 min read
India Economics Update Plans for universal electricity access will fall short Prime Minister Narendra Modi’s announcement of a new project aimed at “electrifying” all of India’s households by the end of 2018 has grabbed headlines this month. But even if this ambitious target is... 29th September 2017 · 1 min read
Nordic & Swiss Data Response Swiss KOF (Sep.) & Danish GDP (Q2, 2nd estimate) September’s rebound in the Swiss KOF Economic Barometer leaves it consistent with a pick-up in annual GDP growth to around 2%. But the KOF has overstated growth recently and, in any case, inflation... 29th September 2017 · 1 min read
Middle East & North Africa Economics Update Egypt’s easing cycle likely to start in late-2017 The statement accompanying last night’s decision by Egypt’s central bank to leave interest rates on hold suggests that, with inflation now falling, policymakers are trying to downplay expectations... 29th September 2017 · 1 min read
UK Data Response GfK/NOP Consumer Confidence September’s GfK Consumer Confidence survey continues the recent run of more encouraging news on the consumer sector, supporting our view that the slowdown in spending growth won’t be too severe. 29th September 2017 · 1 min read
Australia & New Zealand Economics Weekly Jobs growth to be concentrated in highly paid sectors While leading labour market indicators in Australia continue to point a decent pace of employment growth ahead, it is not just the rate of jobs growth that matters but also the composition. And at... 29th September 2017 · 1 min read
Middle East & North Africa Chart Pack Saudi Arabia returns to the international bond market Saudi Arabia returned to the international bond market this month in order to plug its twin budget and current account shortfalls. A total of $12.5bn of dollar debt was issued, split into three... 28th September 2017 · 1 min read
Africa Economics Update African markets soften in September A combination of rising political risk and falling commodity prices caused key African markets to weaken over the past month. Only a few markets bucked the trend, and they gained very little ground. 28th September 2017 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Sep.) Recent fiscal data suggest that most of the euro-zone’s peripheral countries are continuing to improve their budgetary positions. But Italy’s budget deficit has widened and its Government plans to... 28th September 2017 · 1 min read
Capital Daily Latest pull-back in EM equities should prove temporary 28th September 2017 · 1 min read
Energy Update Oil demand rises as global economy strengthens Global oil demand was given a boost in the second quarter of this year largely due to a stronger global economy. The latest data point to a bright outlook for oil demand over the next year as the... 28th September 2017 · 1 min read
US Employment Report Preview Hurricanes will batter payroll figures The September employment report is likely to be affected heavily by the disruption caused by Hurricanes Harvey and Irma. Our best guess is that payrolls rose by around 100,000, about half of the gain... 28th September 2017 · 1 min read
Europe Data Response German & Spanish Flash CPI (Sep.) September’s flash inflation data for Germany and Spain suggest that euro-zone inflation was probably unchanged from August’s 1.5%. And the likely falls in core inflation in both Germany and Spain... 28th September 2017 · 1 min read
