Canada Economics Weekly Energy production other shoe to drop Despite the rebound in oil prices this year, domestic energy producers don’t appear to believe in a sustainable recovery judging by the further decline in oil & gas drilling rig activity. Falling... 10th June 2016 · 1 min read
Canada Data Response Labour Force Survey (May) While the employment gain of 13,800 in May and drop in the unemployment rate to 6.9%, from 7.1%, was better than most had expected, this was entirely due to hiring in the public sector, partly related... 10th June 2016 · 1 min read
Latin America Economic Outlook Set for a slow recovery The downturn in Latin America’s economy should bottom out over the second half of this year and economic growth should return as we move into 2017. The recession in the region’s largest economy –... 6th June 2016 · 1 min read
Japan Chart Pack Slowdown in underlying inflation should rattle BoJ Japan’s economy is holding up reasonably well despite the recent strengthening of the yen. Meanwhile, the decision to delay the sales tax hike that had been scheduled for next April has brightened the... 6th June 2016 · 1 min read
Canada Economics Weekly Consumption growth likely to slow The recent pick-up in consumer spending growth suggests at first glance that households are in a position to carry the economy once again this year. But closer examination of the underlying trends in... 3rd June 2016 · 1 min read
US Data Response Employment Report (May) The 38,000 increase in non-farm payrolls in May, which is still only 73,000 if we adjust for the 35,000 striking Verizon workers, means that a June rate hike from the Fed is now very unlikely.... 3rd June 2016 · 1 min read
Japan Economics Weekly More workers but less work While the number of people in paid employment in Japan is now the highest since 2008, hours worked have fallen to fresh lows as full-time workers have been replaced by part-time workers. With little... 3rd June 2016 · 1 min read
China Economics Update Migrant workers reveal strains across economy The latest survey on migrant workers, who are often the first to suffer when economic and labour market conditions deteriorate, confirms evidence elsewhere of weakness in key parts of the economy. And... 3rd June 2016 · 1 min read
Japan Data Response Labour Cash Earnings (Apr.) The slowdown in wage growth in April was broad-based, and we believe that the labour market will have to tighten much further to create major cost pressures. 3rd June 2016 · 1 min read
Nordic & Swiss Economics Update Iceland holds rates but tightening cycle not yet over Iceland’s central bank kept its interest rates unchanged for the fifth consecutive meeting. But with price pressures set to pick up in the second half of the year, further tightening will be needed. 1st June 2016 · 1 min read
Europe Economics Update Will a new government halve Spanish unemployment? In order to cut Spanish unemployment significantly, the parties that gain power after voters return to the polls in June will need to focus on retraining the workforce. But even if schemes were... 31st May 2016 · 1 min read
Europe Data Response Euro-zone Flash CPI (May) & Unemployment (Apr.) The latest figures on euro-zone inflation and unemployment maintained the picture of subdued price pressures across the region. 31st May 2016 · 1 min read
Japan Data Response Small Business Confidence (May) Small business confidence dropped back in May and suggests that the economic recovery remains anaemic. 31st May 2016 · 1 min read
Japan Data Response Industrial Production, Household Spending & Unemployment (Apr.) Today’s figures on industrial production and household spending suggest that Japan's economy continued to expand at a solid pace in the second quarter. 31st May 2016 · 1 min read
Australia & New Zealand Chart Pack Non-mining investment failing to fill the hole Although GDP growth in Australia in the first quarter probably at least matched the 0.6% q/q rate in the fourth quarter of last year, the continued disappointment is the failure of non-mining... 26th May 2016 · 1 min read
US Employment Report Preview Verizon strike to hit May payrolls hard Our econometric model points to a solid 170,000 gain in non-farm payrolls in May, but after we allow for the impact of the Verizon strike and other temporary factors, the actual gain in employment was... 26th May 2016 · 1 min read
