Precious Metals Update How much of a threat are electric cars to PGMs demand? Electric vehicles have been the subject of much publicity recently, leading some commentators to question the future of PGMs in the auto industry. While we recognise the growing importance of electric... 10th May 2016 · 1 min read
US Economics Update NFIB & JOLT surveys reveal no labour market deterioration The latest NFIB and JOLT surveys suggest that, contrary to the already reported slowdown in the pace of monthly payroll gains in April, labour market slack is still shrinking. That should eventually... 10th May 2016 · 1 min read
Emerging Europe Economics Update C&SEE GDP growth slower, but still strong, in Q1 The flash Q1 GDP data for Central and South Eastern Europe (C&SEE) to be released later this week and next week are likely to point to growth of 3-3.5% y/y in most countries. Those rates would be... 10th May 2016 · 1 min read
Energy Update Oil production outages supporting prices, for now Disruptions to oil output around the world have put the brakes on the slide in oil prices since the beginning of this month. However, these production outages should only be temporary. When output is... 10th May 2016 · 1 min read
Africa Economics Update Africa: Economic shock not over yet GDP growth in Sub-Saharan Africa slowed to a 16-year low in 2015, but the adjustment to low commodity prices is far from over. We expect even weaker growth in 2016. 10th May 2016 · 1 min read
Industrial Metals Update Copper still waiting in the wings The price of copper has not risen by as much as the prices of other metals in recent months. But we think the underlying outlook for demand is strong and that there are risks on the supply side. As... 10th May 2016 · 1 min read
Emerging Europe Data Response Turkey Current Account (Mar.) The ongoing improvement in Turkey’s current account position in March was encouraging, but once again it was driven mainly by a falling energy import bill. Moreover, as last week’s sell-off in the... 10th May 2016 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Apr.) Egyptian inflation jumped to 10.3% y/y in April as the impact of March’s devaluation of the pound started to feed through into the wider economy. We expect inflation to rise further over the coming... 10th May 2016 · 1 min read
India Economics Update Bankruptcy reform would be a major step forward The Lok Sabha’s vote in favour of an overhaul of India’s archaic bankruptcy laws is a step towards creating a more friendly business environment and easing constraints in the banking sector. What’s... 10th May 2016 · 1 min read
UK Data Response BRC Retail Sales Monitor (Apr.) Following two months of weak official retail sales figures, April’s BRC sales data dented hopes that the weakness would prove temporary. Nonetheless, we still think that talk of a marked collapse in... 10th May 2016 · 1 min read
UK Commercial Property Data Response Commercial property investment (Apr) Commercial property deal-making dipped modestly in April. However, the data gave further signs of improving liquidity, and strong overseas demand for UK assets. Nevertheless, with values looking... 10th May 2016 · 1 min read
UK Data Response Trade (Mar.) Despite the improvement in today’s trade figures for March, net trade still appears to still be dragging on GDP growth. And trade is set to make a larger negative contribution to the current account... 10th May 2016 · 1 min read
Europe Data Response German Industrial Production (Mar.) Despite March’s sharp fall in German industrial production, the sector appears to have contributed strongly to GDP growth in Q1. However, evidence from the business surveys suggests that underlying... 10th May 2016 · 1 min read
China Data Response Consumer & Producer Prices (Apr.) The recent rally in commodity prices pushed up factory gate prices and household energy costs last month. But broader price pressures remained relatively stable. 10th May 2016 · 1 min read
