Japan Economics Update External trade (May) The trade deficit remained broadly unchanged in May, and should narrow slightly further in coming months. 18th June 2014 · 1 min read
Canada Data Response Survey of Manufacturing (Apr. 14) The disappointing decline in manufacturing sales in April was entirely due to lower prices, whereas sales volumes continued to recover from the weather-related drop late last year. With sales now... 13th June 2014 · 1 min read
Europe Data Response Euro-zone Trade (Apr.) & Employment (Q1) April’s euro-zone trade data suggested that the strong euro continues to undermine export growth, highlighting that the ECB still has more to do to support the recovery. 13th June 2014 · 1 min read
Africa Economics Focus Why Ghana needs IMF help The recent sharp widening of Ghana’s twin budget and current account deficits has fuelled speculation that the country may require some external help to stave off a fiscal and balance of payments... 11th June 2014 · 1 min read
Emerging Markets Trade Monitor EM exports strengthen a touch, manufacturers outperform Emerging Market (EM) export growth picked up a little in April and the rebound in Chinese exports last month suggests that it has since strengthened further. In aggregate, EM export growth is still... 9th June 2014 · 1 min read
China Data Response Trade (May.) The unexpected contraction in imports last month probably overstates the weakness in domestic demand. While we believe that the cooling property sector is indeed weighing on commodity demand, May's... 9th June 2014 · 1 min read
Japan Data Response GDP (Q1 Revised) & Current Account (April) The second estimate of Q1 GDP confirmed that the recovery in business investment continued last quarter. Meanwhile, the current account returned to surplus after the sales tax hike as imports plunged. 9th June 2014 · 1 min read
Canada Economics Weekly Lower Canadian dollar unlikely to catapult economy The Canadian dollar's decline, which began about a year ago, has reinforced the Bank of Canada's prior view that it's long-awaited export recovery is finally set to go. Over the past year, however... 9th June 2014 · 1 min read
UK Data Response Trade (Apr.) April’s trade figures suggested that the economy is still struggling to rebalance towards exports. And since the impact of sterling’s rise on exports has probably not been felt yet, the recovery is... 6th June 2014 · 1 min read
Europe Data Response German Industrial Production & Trade (Apr.) April’s German industrial production and trade data added to signs that the recovery in the euro-zone’s largest economy may already be slowing. 6th June 2014 · 1 min read
Africa Economic Outlook Growing pains Sub-Saharan Africa (SSA) is likely to remain one of the world’s best performing regions over the next couple of years but, in a number of countries, growing pains are starting to emerge. Budget and... 6th June 2014 · 1 min read
Global Economics Chart Pack Growth rebounding in second quarter The world economy slowed significantly in Q1, largely because output contracted in the US and growth weakened in China. But this should be followed by a rebound in the current quarter. Indeed, the... 5th June 2014 · 1 min read
UK Economics Chart Pack Strong growth but still no productivity rebound While the latest activity surveys suggest that the recovery might have gathered pace in the second quarter, a revival in productivity has remained elusive. Indeed, firms are hiring workers in record... 4th June 2014 · 1 min read
Europe Chart Pack Deflation risks still mounting May’s fall in euro-zone HICP inflation from 0.7% to 0.5% left it at its joint weakest rate since October 2009 and far beneath the ECB’s 2% price stability ceiling. There is no sign of inflationary... 4th June 2014 · 1 min read
Canada Data Response International Merchandise Trade (Apr.) Canada's merchandise trade position unexpectedly shifted from an upwardly revised surplus in March to a small deficit in April, as the terms of trade deteriorated and energy and primary metals exports... 4th June 2014 · 1 min read
US Data Response International Trade (Apr.) The monthly trade deficit widened to a two-year high of $47.2bn in April, from an upwardly revised $44.2bn in March. The 0.2% m/m decline in April's exports, coupled with the 1.2% m/m rise in imports... 4th June 2014 · 1 min read
