Japan Data Response Money Supply & Consumer Confidence (Oct.) The slump in consumer confidence in October shows that households feel uncomfortable with the combination of rising prices and falling incomes. Meanwhile, the money supply grew at its fastest pace... 12th November 2013 · 1 min read
China Economics Update State sector pulls back With output growth stable and inflation contained, October’s data signalled two key developments: a pull back in investment by the state sector, particularly in infrastructure, and a slowdown in... 11th November 2013 · 1 min read
Emerging Markets Economics Update EM bank funding carrying more risks We’ve voiced concern about the pace of credit growth in a number of EMs. Worryingly, the composition of banks’ funding appears to have deteriorated at the same time, most notably in Turkey, but also... 8th November 2013 · 1 min read
Global Economics Chart Pack Encouraging start to the fourth quarter Global growth appears to have accelerated in October, as suggested by the rise in business surveys to their highest levels since early 2011. After accelerating in Q3, the US economy seems to have... 7th November 2013 · 1 min read
China Economics Update How big a problem is local government debt? China’s local governments have taken on unhealthy amounts of debt over the last few years but, unlike many, we do not think this should rank among policymakers’ primary concerns. Instead, we would... 7th November 2013 · 1 min read
Europe Chart Pack ECB likely to soften stance but refrain from action The fall in euro-zone CPI inflation to a four year low of 0.7% has raised the prospect of a bout of outright deflation in the euro-zone economy. While cost pressures are not as weak as they were when... 6th November 2013 · 1 min read
UK Economics Chart Pack Recovery strengthens and broadens The economic recovery still seems to be gathering speed. The 0.8% quarterly rise in GDP in the third quarter was the strongest expansion seen since Q2 2010. And whereas a year or so ago, the recovery... 5th November 2013 · 1 min read
US Economics Update Rising borrowing costs hit demand for loans The Fed's latest Senior Loan Officer Survey shows that even though banks are still prepared to increase the supply of credit, the recent surge in long-term borrowing costs has undermined the demand... 4th November 2013 · 1 min read
Global Economics Update Taper delay keeps monetary conditions loose With the Fed likely to keep the monetary taps flowing for even longer than previously expected, the world will be awash with liquidity for a long time to come. There are tentative signs that this is... 31st October 2013 · 1 min read
Europe Economics Update Risks too great for Cyprus to fully relax capital controls Although Cyprus has already begun to gradually relax its capital controls, restrictions on deposits leaving the country remain in place. With a fragile banking sector and an economy deep in recession... 30th October 2013 · 1 min read
UK Economics Update Monetary Indicators Monitor (Oct.) Recent strong growth in certain measures of broad money suggests that the economic recovery has plenty of momentum at present. But the continued weakness of bank lending remains a reason to be... 29th October 2013 · 1 min read
Europe Economics Weekly Euro-zone still on track for a grinding recovery Although the Bank of Spain’s Q3 GDP estimate suggested that Spain may have exited its two-year recession, the fall in the euro-zone composite PMI in October highlighted that the region’s economic... 28th October 2013 · 1 min read
UK Economics Weekly Threat to recovery from energy prices overplayed With last week’s GDP figures providing further evidence that the economic recovery is becoming entrenched, the recovery should be able to withstand the looming round of energy price hikes. Indeed... 28th October 2013 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Sep.) September’s euro-zone monetary data perhaps offered tentative signs that the fall in bank lending is easing, but a decent pick-up in credit remains a distant prospect. 25th October 2013 · 1 min read
Latin America Economics Update Debt overhang a risk on horizon for parts of Latin America Lending growth has continued to cool in most parts of Latin America over the course of 2013. Although the credit boom of the past decade has yet to be reflected in a significant rise in default rates... 23rd October 2013 · 1 min read
US Economics Update Monetary Indicators Monitor (Sep 13.) Our M3* measure of broad money, which replicates the series discontinued by the Fed, continued to grow at a healthy annual rate of nearly 6% in September. But the longer the Fed delays the tapering of... 22nd October 2013 · 1 min read
