India Data Response Manufacturing PMI (Aug.) India’s manufacturing PMI rose in August, but the reading still only points to subdued growth in industrial output. The big picture is that local manufacturers continue to face structural constraints... 1st September 2016 · 1 min read
Asia Data Response Manufacturing PMIs (Aug.) The August PMIs for Emerging Asia suggest manufacturing conditions in the region remain lacklustre. Focusing on the two economies where the PMIs most closely track the hard data, there are signs of... 1st September 2016 · 1 min read
China Data Response PMIs (Aug.) For the first time since November 2014, both manufacturing PMIs are now at or above 50, the line that – in theory at least – separates expansion from contraction. This ought to boost sentiment and... 1st September 2016 · 1 min read
Australia & New Zealand Data Response Australia Retail Sales (Jul.) July’s weaker-than-expected retail sales figures mean that even if spending were to gather momentum in the remainder of the third quarter, real consumption growth will struggle to match the probable 0... 1st September 2016 · 1 min read
Australia & New Zealand Data Response Australia Private Capital Expenditure Survey (Q2) The private capital expenditure survey for the second quarter shows that the investment transition is taking place slowly. Together with the stagnation in retail sales in July, we believe that GDP... 1st September 2016 · 1 min read
Japan Data Response Capital Expenditure (Q2) Today’s data on capital spending showed a fall that broadly matched the drop in non-residential investment in the preliminary estimate of Q2 GDP. The upshot is that the second estimate of GDP, due... 1st September 2016 · 1 min read
Latin America Data Response Brazil GDP (Q2) The bigger-than-expected 0.6% q/q drop in Brazil Q2 GDP was caused by another large fall in consumer spending. An improvement in investment should ensure that the economy returns to growth over the... 31st August 2016 · 1 min read
India Data Response GDP (Q2) Today’s release of another set of strong GDP data will do little to dispel doubts aboutthe quality of the national accounts numbers. 31st August 2016 · 1 min read
Latin America Economics Update Rousseff’s removal will shift attention to fiscal reforms The vote by Brazil’s Senate to formally remove President Rousseff from office was a foregone conclusion and is unlikely to have a major impact on markets. Attention will now shift to the passage of... 31st August 2016 · 1 min read
China Economics Update Downturn in Hong Kong property market still has further to run Data released today show home prices in Hong Kong rising for a fourth straight month in July, raising hopes that the city’s property market correction may be over. But with interest rates set to rise... 31st August 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report - (31st Aug. 16) US distillate fuel and crude oil inventories rose again last week, the latter increase owing to higher net imports and an easing back of refiner demand. 31st August 2016 · 1 min read
EM Valuations Monitor Have valuations of EM equities peaked? The rally in emerging market (EM) equities has fizzled out and, with measures of valuations such as the price/12month forward earnings ratio high, there may be only limited upside in the near term... 31st August 2016 · 1 min read
US Housing Market Update Can land shortages explain faltering housing starts? According to an NAHB survey, land shortages are at their most severe since records began in 1997. Low interest rates may be making landowners reluctant to sell, while labour shortages will be curbing... 31st August 2016 · 1 min read
Canada Data Response GDP (Q2 2016) The 1.6% annualised decline in second-quarter GDP was worse than the 1.0% decline anticipated by the Bank of Canada in its July Monetary Policy Report. But Statistics Canada estimates that decline was... 31st August 2016 · 1 min read
Energy Chart Pack Speculation fuels oil price rally The possibility of a new deal between OPEC and some major non-OPEC oil producers to limit supply in September has seen the oil price surge by about 20% this month. However, prices have already started... 31st August 2016 · 1 min read
