Global Economics Update World still awash with liquidity even as Fed prepares to hike Broad money and credit have been growing at a steady pace, against the backdrop of exceptionally loose global monetary conditions. In advanced economies, growth in lending to the private sector has... 26th October 2016 · 1 min read
Global Economics Update Flash PMIs (Oct.) Preliminary survey data, which were published today, point to a significant acceleration in activity in advanced economies in October. 24th October 2016 · 1 min read
Global Economics Update Tide turning towards stimulus With central banks running out of firepower, public finances in a better state than they have been for a long time and sovereign bond yields exceptionally low, it is not surprising that some... 12th October 2016 · 1 min read
Global Economics Update Fallout from higher oil prices (mostly) good news The recovery in oil prices is a mixed blessing for global growth. We estimate that the contribution of energy costs to annual CPI inflation in the advanced economies will flip from an average of minus... 11th October 2016 · 1 min read
Global Economics Update Monetary policy and conditions still ultra-loose Global monetary conditions are still exceptionally accommodative and are set tor emain so even if the Fed raises rates in December, as we think is likely. Sovereign bond yields are close to record... 5th October 2016 · 1 min read
Global Economics Update What to make of the IMF's latest forecasts? The tone of the IMF’s latest World Economic Outlook, published today, was decidedly gloomy. But we suspect that their forecasts will need to be lowered further over the coming year or so. 4th October 2016 · 1 min read
Global Economics Update Global Manufacturing PMI (Sep. 16) The manufacturing PMIs published today and late last week suggest that global growth was broadly steady in September. The biggest news was from the US where the ISM manufacturing survey rebounded... 3rd October 2016 · 1 min read
Global Economics Update Would President Trump start a trade war? It is impossible to be sure what Donald Trump would actually do if he became US President but ourbest guess is that he would back away from his most radical proposals on trade policy. And even if he... 26th September 2016 · 1 min read
Global Economics Update Flash PMIs (Sep. 16) Flash PMIs published today point to a small pick-up in growth in the manufacturingsector in Japan and the euro-zone, but a decline in the US. Advanced economies overallare still struggling, whereas... 23rd September 2016 · 1 min read
Global Economics Update Prospects for consumers remain reasonably bright Weak US retail sales data for August, released earlier today, were the latest sign that the consumer recoveryin the developed world is losing pace. Even so, the prospects for household spending over... 15th September 2016 · 1 min read
Global Economics Update Is the pendulum swinging towards fiscal stimulus? With global growth still lacklustre, monetary policy seemingly ineffective and government bond yields unprecedentedly low, the case for fiscal stimulus has become more compelling. Partly as a result... 7th September 2016 · 1 min read
Global Economics Update G20: lots of talk but not much action Without a crisis to concentrate minds, G20 leaders meeting in Hangzhou are unlikely to make any major policy breakthroughs. The truth is that there is little appetite for coordinated policy action... 2nd September 2016 · 1 min read
Global Economics Update Global Manufacturing PMI (Aug.) Business surveys published earlier today paint a mixed picture of global manufacturing conditions. Activity in China appears to have stabilised, but the sharp fall in the US ISM index suggests, at... 1st September 2016 · 1 min read
Global Economics Update Lending growth continues to recover Money and credit growth in the major advanced economies have held up remarkably well this year, despite overall economic growth remaining lacklustre. Indeed, lending to households is now expanding... 26th August 2016 · 1 min read
Global Economics Update What to expect from Jackson Hole This week’s Jackson Hole conference is unlikely to shine much light on the immediate outlook formonetary policy either in the US or elsewhere. But it will underline how concerned many centralbankers... 26th August 2016 · 1 min read
Global Economics Update Flash PMIs (Aug.) Preliminary survey data for August, which were published today, suggest that economic growth remained slow but steady in advanced economies. Meanwhile, alternative survey evidence for the UK has been... 23rd August 2016 · 1 min read
