China Data Response China Caixin Manufacturing PMI (Aug.) The larger-than-expected drop in Caixin manufacturing PMI was more significant than the slight rise in the official PMI, suggesting that downward pressure on industry intensified last month. There is... 1st September 2022 · 3 mins read
Japan Data Response Capital Spending (Q2 2022) The smaller increase in capital spending reported in today’s “Financial Statements Statistics of Corporations” means that Q2 GDP will likely be revised downward slightly in next week’s second estimate... 1st September 2022 · 2 mins read
Australia & New Zealand Rapid Response Australia Private Capex (Q2 & 2022/23) 1st September 2022 · 2 mins read
India Data Response GDP (Q2) Base effects caused a surge in headline Indian GDP growth in Q2 (Q1 of FY22/23), but underlying growth slowed relative to Q1. As a result, GDP growth won’t reach 9% in 2022 as we had thought. That... 31st August 2022 · 2 mins read
China Chart Pack PBOC moving to defend key renminbi threshold The renminbi has weakened 2.5% against the US dollar since mid-August and is nearing our year-end forecast of 7.00/$. This is mostly a reflection of broad dollar strength – the renminbi is little... 31st August 2022 · 13 mins read
India Economics Focus Rupee to reverse course this decade The Indian rupee has continued its long-run trend of depreciation against the US dollar this year, taking it to a record low of 80/$. It may still weaken further in the near term. However, there are... 31st August 2022 · 17 mins read
China Data Response China Official PMIs (Aug.) The official PMIs show a further loss in economic momentum this month as the reopening boost waned and the property downturn deepened. We continue to think the economy will struggle to make much... 31st August 2022 · 3 mins read
Japan Rapid Response Japan Industrial Production & Retail Sales (Jul. 22) 31st August 2022 · 2 mins read
Japan Data Response Retail Sales & Industrial Production (July 22) Industrial production rose at a solid pace in July whereas most of the rise in retail sales values reflected soaring prices. While the manufacturing sector should bounce back this quarter, services... 31st August 2022 · 2 mins read
Japan Economics Update Terms of trade shocks will hold back recovery Japan is facing its largest terms of trade shock since the second oil crisis in the early-1980s. While we don’t expect Japan to follow other advanced economies into recession, we’re slashing our 2023... 30th August 2022 · 3 mins read
Japan Data Response Labour Market (July 22) The unemployment rate stayed unchanged in July and we do not see much room for further tightening in the labour market in 2022. 30th August 2022 · 2 mins read
India Chart Pack Economy holding up amid policy tightening GDP data for Q2 (Q1 of FY22/23) due next week should show that the economy grew at a robust pace last quarter despite the onset of monetary policy tightening. And more timely indicators suggest that... 26th August 2022 · 9 mins read
India Economics Weekly Surging capital inflows unlikely to be sustained Foreigners’ net purchases of Indian equities have surged to near record levels in recent weeks, helping to fuel the strong rally in the Sensex. We doubt that this can be sustained as global policy... 26th August 2022 · 7 mins read
