Japan Economics Weekly Employment conditions still improving The second successive monthly rise in the unemployment rate in April (to 5.1%) has been widely interpreted as a sign that the recovery in the domestic economy is already faltering. We are unconvinced... 31st May 2010 · 1 min read
Japan Data Response Unemployment, Spending & CPI (Apr 10) Today’s April data on unemployment (up), household spending and prices (both down) were all worse than expected, although they do not yet make a convincing case that the recovery is faltering. 28th May 2010 · 1 min read
UK Data Response Inflation Report (May) & Labour Market (Mar./Apr.) The dovish tone of the Bank of England’s May Inflation Report suggested that the Monetary Policy Committee (MPC) has no intention of tightening policy anytime soon. If anything, it is more likely to... 12th May 2010 · 1 min read
Europe Data Response Euro-zone Flash CPI (Apr.) & Unemployment (Mar.) The euro-zone CPI and unemployment figures add to the view that the region is set for a prolonged period of weak price pressures. 30th April 2010 · 1 min read
Japan Data Response Activity, Wages and Prices (Mar.) Today's rush of data showed no sign of the imminent double-dip in the Japanese economy that some still fear. 30th April 2010 · 1 min read
Europe Data Response Euro-zone EC Survey & German Unemployment (Apr.) April’s improvement in the EC business and consumer survey suggests that, for the time being at least, the euro-zone’s fiscal crisis is not preventing a recovery in the broader economy. 29th April 2010 · 1 min read
UK Economics Update Public sector job cuts could yet take unemployment to 3m The argument over whether Labour’s National Insurance rise or the Conservatives’ efficiency savings will cost more jobs detracts from the bigger picture that the required fiscal squeeze will result in... 28th April 2010 · 1 min read
UK Economics Update Public sector job cuts could yet take unemployment to 3m The argument over whether Labour’s National Insurance rise or the Conservatives’ efficiency savings will cost more jobs detracts from the bigger picture that the required fiscal squeeze will result in... 28th April 2010 · 1 min read
UK Data Response MPC Minutes (Apr.) & Labour Data (Feb./Mar.) The minutes of April’s Monetary Policy Committee (MPC) meeting showed that the Committee is still unlikely to alter policy in the near future. Meanwhile, despite the headline-grabbing drop in claimant... 21st April 2010 · 1 min read
Asia Economics Update Korea’s labour market strengthens Bank of Korea (BoK) Governor Kim shares the government view that policy rate rises should be delayed until the labour market improves significantly. The large employment gain in March, reported today... 14th April 2010 · 1 min read
Europe Data Response Euro-zone Flash CPI (Mar.) & Unemployment (Feb.) March’s increase in euro-zone HICP inflation related mainly to energy effects and should be short-lived. Indeed, the further increase in euro-zone unemployment in February was another sign that... 31st March 2010 · 1 min read
Japan Data Response Spending, Unemployment & Ind. Production (Feb.) Today’s data on household spending suggest that the recovery in consumption may have faltered in the first quarter. Nonetheless, other evidence from the consumer sector is reassuring and we do not... 30th March 2010 · 1 min read
UK Economics Update Fears of a ‘Spring of Discontent’ overplayed The recent surge in industrial action in the UK has lead to concerns that a ‘Spring of Discontent’ – echoing the highly-disruptive period of strikes in 1978/9 known as the ‘Winter of Discontent’ – is... 23rd March 2010 · 1 min read
