Emerging Europe Economics Update Russia’s data revisions: slip-up or step-up? Recent revisions to Russia’s economic data have drawn scorn and generated confusion but, while the country’s statistics are far from perfect, the changes do appear to be a step in the right direction. 3rd April 2017 · 1 min read
Europe Data Response Euro-zone Unemployment & PPI (Feb.), Final Man. PMI (Mar.) February’s fall in euro-zone unemployment and the rise in the manufacturing PMI in March supported other evidence that the economy is performing well. But February’s producer prices data confirmed... 3rd April 2017 · 1 min read
Asia Economics Focus Bangladesh: The next Asian Tiger? Bangladesh has been one of the region’s top performing economies in recent years, but it is still someway short of meeting the government’s 8% growth target. If Bangladesh is to replicate the success... 3rd April 2017 · 1 min read
Africa Data Response South Africa Manufacturing PMI (Mar.) South Africa’s manufacturing PMI remained strong in March, pointing to faster growth in Q1. The survey will not, however, have fully captured the hit to confidence caused by the sacking of Pravin... 3rd April 2017 · 1 min read
UK Data Response Markit/CIPS Report on Manuf. (Mar.) The slight fall in the manufacturing PMI in March suggests that the sector saw a modest slowdown in the first quarter. But the bigger picture is that the sector is still performing well by recent... 3rd April 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Mar.) March’s PMIs point to faster manufacturing growth in Switzerland, Sweden and Norway. They also imply that price pressures are building in Sweden, which we think will force the Riksbank to tighten... 3rd April 2017 · 1 min read
UK Commercial Property Update What does the slowdown in retail sales mean for retail property? All else equal, weaker retail sales should feed through into softer rental value growth. However, retail sales figures have tended to be a poor guide to retail rental growth of late and we see little... 3rd April 2017 · 1 min read
Emerging Europe Data Response Manufacturing PMIs (Mar.) & Turkey CPI (Mar.) The sharp rise in Turkish inflation last month supports our view that, while the central bank’s tightening cycle has probably run its course, interest rates will stay very high. In better news, March... 3rd April 2017 · 1 min read
India Data Response Manufacturing PMI (Mar.) The rise in India’s manufacturing PMI in March is another sign that the economy is on a firmer footing after the hit to activity from demonetisation. Looking ahead, manufacturers should continue to... 3rd April 2017 · 1 min read
Asia Data Response Manufacturing PMIs (Mar.) Most of Emerging Asia’s PMIs ticked up in March. But the woes of the manufacturing sector in Korea, one of the economies where the PMIs most closely track the hard data, are not over. 3rd April 2017 · 1 min read
Australia & New Zealand Data Response Retail Sales & Building Approvals (Feb.) The outright fall in retail sales values in February adds to growing evidence that real consumption growth probably eased in the first quarter, while the latest news on the housing market has remained... 3rd April 2017 · 1 min read
Japan Data Response Tankan (Q1) While today’s Tankan survey showed that business conditions for large manufacturers did not improve as much as most had anticipated, the survey suggests that growth will remain strong for now. What’s... 3rd April 2017 · 1 min read
Latin America Economics Update Ecuador’s election too close to call Opinion polls suggest that the outcome of Ecuador’s presidential election on Sunday is still too close to call. A victory for government candidate Lenin Moreno would mean more of the same leftist... 31st March 2017 · 1 min read
Nordic & Swiss Economics Update Sharp currency depreciations in Norway and Iceland Market movements across the Nordic and Swiss economies were fairly limited in March. The main exceptions were in the currency market, with both the Norwegian krone and Icelandic króna recording sharp... 31st March 2017 · 1 min read
China Economics Update Repo rise signals growing concern over credit risks China’s interbank repo rates have fallen back slightly after the headline-grabbing spike last week that took them to their highest in more than two years. But the bigger picture is that the PBOC has... 31st March 2017 · 1 min read
