Middle East & North Africa Economics Update Saudi still failing to entice foreign investors The Saudi government’s efforts to improve the Kingdom’s business environment and attract foreign direct investment in recent years haven’t had the desired effect. One result is that the government is... 4th March 2021 · 3 mins read
Australia & New Zealand Economics Update Australia - Trade conflict with China knocking 0.5% off GDP While Australia’s non-iron ore export volumes to China have slumped by 40% over the past year, coal miners have been able to divert their shipments to other countries. The upshot is that the conflict... 4th March 2021 · 2 mins read
Latin America Data Response Brazil GDP (Q4 2020) The larger-than-expected 3.2% q/q rise in Brazilian GDP in Q4 confirms that the economy had one of the better performances in Latin America last year. But there is strong evidence to suggest that the... 3rd March 2021 · 2 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Feb.) February’s batch of whole economy PMIs suggest economic activity in non-oil sectors across the region eased last month on the back of tighter virus containment measures. Aside from the UAE... 3rd March 2021 · 3 mins read
India Data Response Services & Composite PMI (Feb.) India’s PMI readings for February suggest that output has rebounded further above pre-virus levels so far this quarter. With fiscal policy turning more supportive and new virus cases remaining low... 3rd March 2021 · 2 mins read
Australia & New Zealand Data Response Australia GDP (Q4) The 3.1% q/q rise in Q4 GDP left output just 1.1% below pre-virus levels and we think it will surpass that threshold by Q2. 3rd March 2021 · 2 mins read
China Economics Update Planning to do it alone The 14 th Five-Year Plan should provide a revealing view of the key challenges that China’s leadership believes it faces. High among them is a more hostile global environment. In the economic sphere... 3rd March 2021 · 3 mins read
Emerging Europe Economics Update Picking apart the divergence in Central Europe in Q4 The full breakdown of Q4 GDP data for Central Europe showed that net trade exerted a drag on growth in Poland while it provided a boost to Czechia and Hungary. But looking ahead, mounting headwinds to... 2nd March 2021 · 3 mins read
Latin America Economics Update Brazil’s COVID-19 outbreak putting recovery on ice The growing strains in Brazil’s health system caused by the latest COVID-19 outbreak are likely to result in a further tightening of containment measures in the coming days, hitting the economic... 2nd March 2021 · 3 mins read
Asia Data Response Manufacturing PMIs (Feb.) February PMI readings suggest that manufacturing sectors improved further in most places in Asia. Global demand for electronics should continue to support the sector for at least the next few months. 2nd March 2021 · 2 mins read
Japan Data Response Japan Labour Market (Jan. 2021) & Capex (Q4 2020) The unemployment rate fell in January despite the state of emergency, and it should fall further over the course of this year as employment rebounds in line with the economic recovery. Meanwhile... 2nd March 2021 · 2 mins read
Emerging Markets Economics Update Manufacturing PMIs still point to further EM recovery February’s manufacturing PMIs released across the emerging world were the proverbial mixed bag but, taken together, generally point towards solid EM industrial production growth in the next month or... 1st March 2021 · 3 mins read
Global Economics Update PMIs point to continued recovery in manufacturing February’s global manufacturing PMI survey painted a positive picture, implying that output growth has continued to accelerate outside China and that employment is picking up. Supply disruptions are... 1st March 2021 · 2 mins read
Middle East & North Africa Economics Update Saudi recovery remains weak at start of 2021 Saudi Arabia’s economic recovery has continued to be slow going as the tightening of COVID-19 restrictions has weighed on activity. The slow start to the vaccine rollout and the Kingdom’s voluntary... 1st March 2021 · 3 mins read
Commodities Update Softer China PMIs not a huge concern, for now China’s February PMI data were more subdued but still suggest that economic activity remains elevated, and the data elsewhere in Asia point to persistent strength in commodities demand in the coming... 1st March 2021 · 2 mins read
Emerging Europe Data Response Manufacturing PMIs (Feb.) The manufacturing PMIs for February showed strong increases in output and new export orders in Poland and Russia, while manufacturing conditions deteriorated in Turkey and Czechia. The survey also... 1st March 2021 · 2 mins read
