Canada Data Response Teranet-National Bank House Prices (May) Despite a further slowdown in Vancouver, the national rate of annual house price inflation rose to 13.9% in May, from 13.4%, reflecting an acceleration in Toronto. But the big slump in home sales and... 14th June 2017 · 1 min read
Latin America Economics Update Regional recovery to continue, politics willing Latin America’s economy finally returned to growth in Q1 and the latest data suggest that the recovery continued in Q2. While domestic political developments are a key downside risk to the outlook, we... 14th June 2017 · 1 min read
Africa Economics Update South Africa: Economy bouncing back in Q2 The first activity data from the start of Q2 suggest that South Africa’s economy recovered after the grim performance in Q1. This supports our view that growth has held up better than most expected. 14th June 2017 · 1 min read
China Data Response Bank Lending & Broad Credit (May) The squeeze in bond markets explains a pick-up in corporate loan growth last month as firms sought cheaper forms of credit. But on broader measures, the recent slowdown in credit growth has been... 14th June 2017 · 1 min read
Nordic & Swiss Economics Update Scope for further interest rate cuts in Iceland There is little sign that the Central Bank of Iceland (CBI) expects to reduce interest rates further after today’s cut, but we think there is scope for a further appreciation of the króna to weigh on... 14th June 2017 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (May) Saudi inflation stood in negative territory for a fifth consecutive month in May, but with subsidy cuts in the pipeline outright deflation is unlikely to last much longer. 14th June 2017 · 1 min read
Europe Data Response Euro-zone Industrial Prod. (Apr.) & Employment (Q1) Euro-zone industry began Q2 on a positive note with a healthy rise in production in April and surveys point to an acceleration to come. Meanwhile, the region’s labour market recovery continued, with... 14th June 2017 · 1 min read
UK Data Response Labour Market (Apr.) Despite the significant recent erosion of slack in the labour market, wage growth has failed to keep up with inflation and will weigh on consumer spending this year. 14th June 2017 · 1 min read
UK Commercial Property Data Response Employment (Apr.) Today’s labour market data were full of mixed signals. Job creation was healthy and consistent with gently rising rents at the all-property level. But, with the squeeze on real incomes intensifying... 14th June 2017 · 1 min read
Metals Focus Short-term and long-term determinants of India’s gold demand India is one of the world’s largest consumers of gold and relies solely on imports to meet domestic gold demand. This has, at times, resulted in a deepening of the country’s current account deficit... 14th June 2017 · 1 min read
Asia Chart Pack Asia well placed to withstand Fed interest rate hikes The US Fed looks almost certain to raise interest rates at its meeting later today. For most of Emerging Asia, higher rates in the US do not pose a major threat, even if the US Fed ends up hiking... 14th June 2017 · 1 min read
China Data Response Activity & Spending (May) Headline industrial production growth was stable last month but the output volumes of individual products hint at a continued deceleration in activity. Meanwhile, weaker inflation in capital goods... 14th June 2017 · 1 min read
Australia & New Zealand Data Response Australia Consumer Confidence (Jun.) The further fall in the Westpac measure of consumer confidence in June to its lowest level since April 2016 will add to growing concerns about the outlook for consumer spending. On past form... 14th June 2017 · 1 min read
Canada Chart Pack Housing market poised for correction Toronto’s housing real estate boom is turning to bust. After reaching a record high last quarter, seasonally adjusted home sales have plummeted by 30% so far this quarter, while new listings activity... 13th June 2017 · 1 min read
EM Markets Chart Pack How long will the rally in EM bonds continue? Emerging market (EM) sovereign and corporate bond yields have fallen steadily so far this year, but we doubt that this will continue for much longer. 13th June 2017 · 1 min read
Europe Commercial Property Update Further headwinds for Swiss office rents A pick-up in the Swiss economy should improve demand for office space. However, the size of the development pipeline means that it could take longer than expected before prime office rents in Geneva... 13th June 2017 · 1 min read
