Japan Rapid Response Japan Industrial Production & Retail Sales (Mar. 25) 30th April 2025 · 2 mins read
China Activity Monitor CAP: China’s Q1 growth weaker than officials claim Our China Activity Proxy calls into question the consensus view, based on the official GDP figures, that China’s economy remained resilient at the start of this year. Despite some improvement in March... 29th April 2025 · 2 mins read
Middle East & North Africa Economics Update Saudi’s non-oil sector unlikely to sustain strong start Saudi Arabia’s economy enjoyed a relatively strong start to the year underpinned by its non-oil sector. But while GDP growth will accelerate this year as oil output rises, the coinciding slip in oil... 28th April 2025 · 3 mins read
UK Economics Rapid Response UK Retail Sales (Mar. 2025) March’s rise in retail sales volumes meant sales rebounded by an impressive 1.6% q/q in Q1, rounding off a better-than-expected start to the year for the retail sector. That said, March’s rise was... 25th April 2025 · 3 mins read
Australia & New Zealand Chart Pack ANZ Chart Pack (Apr. 2025) Our ANZ Chart Pack has been updated with the latest data and our analysis of recent developments. At first glance, Australia and New Zealand should be fairly insulated from the brunt of the US’s... 24th April 2025 · 1 min read
China Economics Update Can China's domestic consumers take the place of US ones? Retail sales in China are more than ten times larger than the country’s exports to the US. As such, domestic goods consumption would only need to rise by a few percent over the next couple of years to... 22nd April 2025 · 4 mins read
US Rapid Response US Retail Sales (Mar 2025) A presumably temporary pre-tariff surge in motor vehicle sales drove the strong 1.4% m/m increase in retail sales in March. But there was also a big 3.3% m/m rebound in building materials sales and a... 16th April 2025 · 2 mins read
Japan Chart Pack Japan Chart Pack (Apr. 25) Our Japan Chart Pack has been updated with the latest data and our analysis of recent developments. Japan's economy will be hit less hard than many other large economies by the recent escalation of... 15th April 2025 · 1 min read
Australia & New Zealand Economics Weekly ANZ Weekly: Tariff fallout won’t send the RBA into panic mode With concerns growing that Trump's trade war won't leave Australia unscathed, investors now expect the RBA to cut rates by 125bp across its easing cycle. The rout in financial markets also appears to... 11th April 2025 · 6 mins read
Europe Rapid Response Euro-zone Retail Sales (February 2025) Euro-zone retail sales rose in February for the first time since September last year, and we expect consumer spending to grow at a modest pace over the coming months. But higher US tariffs and the... 7th April 2025 · 2 mins read
Australia & New Zealand Economics Weekly ANZ Weekly: RBA could cut rates further, as headwinds mount Although the direct impact of US tariffs on the Australian economy is likely to be modest, we believe second-order effects could be more damaging, due to negative spillovers from key trading partners... 4th April 2025 · 3 mins read
Australia & New Zealand Rapid Response Australia Retail Sales (Feb. 2025) With consumers seemingly keeping spending on a tight leash, there is a risk that the RBA will loosen policy a bit more than we currently expect this cycle. 1st April 2025 · 2 mins read
US Rapid Response US Personal Income & Spending (Feb. 2025) The third consecutive above-target gain in core PCE prices in February, of 0.37% m/m, reinforces our view that the Fed is unlikely to cut interest rates this year. Admittedly, officials are likely to... 28th March 2025 · 2 mins read
UK Economics Rapid Response UK GDP (Q4 2024 Final) & Retail Sales (Feb. 2025) Today’s deluge of data confirmed that the economy was weak even before the full effects of higher business taxes are felt and that a high household saving rate continues to restrain GDP growth... 28th March 2025 · 3 mins read
