Europe Data Response German Flash CPI (Feb.) February’s rise in German consumer price inflation to 2.2% reflected food and energy effects. Core inflation remained subdued, implying that rising price pressures in the euro-zone’s largest economy... 1st March 2017 · 1 min read
UK Economics Update Household Borrowing Monitor (Jan.) January’s UK money and credit figures showed that mortgage approvals have continued on their upward trend, after the lull around last year’s EU referendum, and that consumers may be becoming a little... 1st March 2017 · 1 min read
UK Housing Market Data Response Nationwide House Prices (Feb.) & Mortgage Lending (Jan.) Mortgage approvals for house purchase rose for the fifth consecutive month in January. But they are still lower than this time last year, and with house price inflation holding broadly steady at 4.5%... 1st March 2017 · 1 min read
Nordic & Swiss Economics Update Riksbank minutes strike dovish tone The minutes of the Riksbank’s February meeting were fairly dovish. With board members concerned about the krona’s appreciation and political risks in the euro-zone, we think that the Bank will wait... 1st March 2017 · 1 min read
UK Data Response Markit/CIPS Report on Manuf. (Feb.) Despite the fall in February’s Markit/CIPS manufacturing PMI, the survey still suggests that the sector carried a decent amount of momentum into 2017. However, there are signs that price rises are... 1st March 2017 · 1 min read
UK Commercial Property Data Response Lending to commercial property (Jan.) Net lending to the property sector contracted by £738m in January. However, we suspect that this reflects a softening in demand for loans on the back of weak investment activity, rather than increased... 1st March 2017 · 1 min read
Africa Data Response South Africa Manufacturing PMI (Feb.) South Africa’s manufacturing PMI is the latest indicator to suggest that the economy improved at the start of 2017. We expect that growth will accelerate this year. 1st March 2017 · 1 min read
Nordic & Swiss Data Response Finnish GDP (Q4) & National Manufacturing PMIs (Jan.) Activity surveys suggest that Q4’s slowdown in Finland will be short-lived. And February’s PMIs point to faster manufacturing growth in Switzerland, Sweden and Norway. They also imply that price... 1st March 2017 · 1 min read
Emerging Europe Data Response Manufacturing PMIs (Feb.) Last month’s PMIs for Emerging Europe suggest that in aggregate, the region’s manufacturing sector weakened from January, but it remained strong. The surveys from Central Europe were robust and point... 1st March 2017 · 1 min read
India Data Response Manufacturing PMI (Feb.) The rise in India’s manufacturing PMI in February is another sign that the most severe impact on activity from demonetisation has passed. Looking ahead, manufacturers should continue to recover over... 1st March 2017 · 1 min read
Asia Data Response Manufacturing PMIs (Feb.) The PMIs for Emerging Asia in February were mostly encouraging, suggesting that manufacturing conditions in the region are slowly gaining a firmer footing. 1st March 2017 · 1 min read
US Economics Update Trump struggling to implement his agenda President Donald Trump's speech to a joint session of Congress this evening offered only a little additional clarity on the tax reforms and additional spending the White House will be seeking from... 1st March 2017 · 1 min read
China Data Response PMIs (Feb.) February’s PMI readings suggest that the recent pick-up in global demand is keeping China’s recovery mostly intact for now. 1st March 2017 · 1 min read
RBA Watch Lowe may have to soften his stance later this year Recent comments by Governor Lowe have made it pretty clear that the Reserve Bank of Australia doesn’t intend to cut interest rates further, including at its next policy meeting on Tuesday 7 th March... 1st March 2017 · 1 min read
Australia & New Zealand Data Response Australia GDP (Q4) The decent rebound in real GDP in the fourth quarter doesn’t just dash any lingering fears that Australia was in a recession, but it also boosts hopes that the surge in commodity prices will trigger a... 1st March 2017 · 1 min read
Japan Data Response Capital Expenditure (Q4) Today’s capital spending figures suggest that non-residential investment was stronger last quarter than initially reported. Overall GDP growth may therefore be revised up from +0.2% q/q to +0.3% q/q... 1st March 2017 · 1 min read
