Europe Chart Pack Retail sales growth slows sharply as inflation rises The euro-zone’s consumer sector appears to have had another poor quarter in Q3. Retail sales volumes were flat in August, while timelier national data point to a contraction in sales in September... 1st November 2016 · 1 min read
Emerging Markets Economics Update EM manufacturing makes a strong start to Q4 Manufacturing in the emerging world was at its strongest in more than two years in October, according to the latest PMI surveys, with all the major EM economies seeing a substantial pick-up in the... 1st November 2016 · 1 min read
Latin America Data Response Mexico Manufacturing PMI (Oct.) The small decline in Mexico’s manufacturing PMI in October suggests that the factory sector remains weak. And, with mining output still falling, industry as a whole is unlikely to be a major source of... 1st November 2016 · 1 min read
US Data Response ISM Manufacturing Index (Oct.) The modest pick-up in the ISM manufacturing index to a three-month high of 51.9 in October, from 51.5, echoes the apparent improvement in global manufacturing conditions, in particular the latest rise... 1st November 2016 · 1 min read
Canada Data Response GDP by Industry (Aug.) The 0.2% m/m gain in August GDP, partly driven by the further recovery in oil extraction, all but confirms that the economy grew by close to 3.5% annualised in the third quarter following the wildfire... 1st November 2016 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Sep.) After seasonal adjustment, house prices on the Core-Logic measure jumped by 1.4% m/m in September. That reading will almost certainly be revised down next month, but even so it is clear that house... 1st November 2016 · 1 min read
Global Markets Update Will Brazilian equities continue to outperform After seasonal adjustment, house prices on the Core-Logic measure jumped by 1.4% m/m in September. That reading will almost certainly be revised down next month, but even so it is clear that house... 1st November 2016 · 1 min read
Latin America Data Response Brazil Industrial Production (Sep.) & Manuf. PMI (Oct.) The 0.5% m/m increase in Brazilian industrial production in September only partly reversed the steep fall in August and means that the sector still contracted by around 1.0% q/q in Q3 as a whole. The... 1st November 2016 · 1 min read
Middle East & North Africa Economics Update Saudi finance minister’s departure won’t mark end of austerity The decision to replace Saudi Arabia’s finance minister is unlikely to mark a shift in the Kingdom’s approach to dealing with the fallout from lower oil prices. While the outgoing finance minister had... 1st November 2016 · 1 min read
UK Data Response Markit/CIPS Report on Manuf. (Oct.) October’s Markit/CIPS manufacturing survey suggests that the sector’s post-referendum contraction will prove short-lived. And the fall in the pound should helpthe economy to rebalance towards... 1st November 2016 · 1 min read
Commodities Chart Pack Good news for industrials Clear signs of a cyclical pick-up in China boosted the price of the more industrial commodities last month and more than offset the negative impact of US dollar appreciation. In contrast, the price of... 1st November 2016 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Oct.) & Swiss Retail Sales (Sep.) October’s manufacturing PMIs generally painted a positive picture of economic growth.But the surveys’ price indices suggest that inflationary pressures vary across the region. 1st November 2016 · 1 min read
Africa Data Response South Africa Manufacturing PMI (Oct.) South Africa’s manufacturing PMI fell dramatically last month. The sharp fall in the measure of future conditions suggests that hopes of a swift improvement in the country’s economic and political... 1st November 2016 · 1 min read
Japan Economics Update Baton passing to fiscal policy as BoJ reluctant to ease The Bank of Japan today pushed back the timing for hitting its inflation target and sounded alarmed about the recent moderation in price pressures, but nonetheless refrained from providing more... 1st November 2016 · 1 min read
Emerging Europe Data Response Manufacturing PMIs (Oct.) October’s manufacturing PMIs suggest that the recovery in the Russian economy resumed at the start of Q4 after a disappointing Q3. The surveys also provided early signs that the Turkish economy is... 1st November 2016 · 1 min read
