Europe Chart Pack Retail sales growth slows sharply as inflation rises The euro-zone’s consumer sector appears to have had another poor quarter in Q3. Retail sales volumes were flat in August, while timelier national data point to a contraction in sales in September... 1st November 2016 · 1 min read
Europe Economics Weekly Germany-France divergence looks set to last Last week brought some good news about the euro-zone economy, with October’s composite PMI and EC ESI both pointing to an acceleration of growth. But both the hard data and survey indicators look much... 28th October 2016 · 1 min read
Australia & New Zealand Economics Weekly How fast will inflation rise? Both headline and underlying inflation in Australia will probably rise over the next year and, by boosting economic growth and reducing spare capacity, the recent leap in commodity prices raises the... 28th October 2016 · 1 min read
Japan Data Response Household Spending, Unemployment & Consumer Prices (Sep.) The labour market is getting increasingly tight. However, consumer spending remains sluggish and the slowdown in underlying inflation shows that price pressures continue to moderate. 28th October 2016 · 1 min read
US Employment Report Preview Wage growth still relatively subdued We estimate that non-farm payroll employment increased by 190,000 in October. Given the recent rebound in labour force participation, however, we suspect that the unemployment rate was unchanged at 5... 27th October 2016 · 1 min read
Canada Chart Pack Job gains mostly part-time positions for older workers The labour market appears to have come storming back in September, with employment increasing by almost 70,000 in a single month. Under the surface, however, labour market conditions remain weak. The... 26th October 2016 · 1 min read
Japan Data Response Small Business Confidence (Oct.) Despite a rise in October, small business confidence still points to stagnant industrial production at best, and the outlook is not any better. 26th October 2016 · 1 min read
Australia & New Zealand Chart Pack Commodity prices turning into a tailwind The recent rise in the prices of some key commodity exports will go some way to boosting the national income of both Australia and New Zealand. The surge in the price of coal to a three-and-a-half... 25th October 2016 · 1 min read
India Chart Pack Core price pressures remain elevated Much of the focus both before and after the RBI’s decision to cut the repo rate by 25bp (to 6.25%) in early October has been on the sharp fall in headline inflation over the past couple of months. But... 25th October 2016 · 1 min read
US Chart Pack Economy still struggling to shake off its malaise GDP growth does appear to have accelerated in the third quarter but, after a year of below potential growth, the economy is still struggling to shake off the effects of the stronger dollar and the... 24th October 2016 · 1 min read
Asia Data Response Flash Manufacturing PMI (Oct.) The fifth straight rise in the manufacturing PMI in October indicates that firms are dealing well with the headwind from a stronger exchange rate. What’s more, the survey suggests that consumer prices... 24th October 2016 · 1 min read
Australia & New Zealand Economics Weekly The mixed and messy labour market While the Reserve Bank of Australia would do well to ignore the recent falls in employment, it will be getting more concerned that the rising share of employees working part-time will keep wage growth... 21st October 2016 · 1 min read
Nordic & Swiss Data Response Swedish Labour Force Survey (Sep.) September’s Swedish Labour Force Survey confirmed that the previous month’s poorresults were a one-off and highlights the tightness of the labour market. With firms’hiring intentions picking up in... 20th October 2016 · 1 min read
Australia & New Zealand Data Response Australia Labour Market (Sep.) The RBA may not be too worried by the further decline in employment in September since the data are subject to a couple of distortions and since the unemployment rate fell to 5.6% from 5.7%. But the... 20th October 2016 · 1 min read
UK Commercial Property Data Response Employment (Aug.) The pace of job creation slowed a little in August, but there was little in the data to suggest that a slump in occupier demand or in rental value growth is imminent. 19th October 2016 · 1 min read
UK Data Response Labour Market (Aug./Sep.) August’s labour market data showed that the EU referendum still hasn’t provided much of a hit to the jobs recovery. But surveys suggest employment growth will slow further in the coming months which... 19th October 2016 · 1 min read
