Julie Nicol

Julie Nicol is the Office Administrator in Singapore, working closely with the London office as well as providing support to the local sales team.

Japan Economics Update

Ageing unlikely to lower productivity growth any further

Population ageing explains little of the recent slowdown in productivity growth. And with the pace of greying not picking up any further, we expect productivity growth to rebound to 1% per annum over...

4th May 2018 1 min read

Japan Data Response

Consumer Confidence (Apr.)

We suspect that the recent deterioration in consumer sentiment reflects the impact of rising food prices. Either way, the survey still points to a rebound in spending on durable goods.

2nd May 2018 1 min read

India Data Response

Manufacturing PMI (Apr.)

India’s manufacturing PMI edged up in April, suggesting that the sector strengthened a touch at the start of Q2. Looking ahead, prospects for local manufacturers look relatively bright over the near...

2nd May 2018 1 min read

China Data Response

Caixin Manufacturing PMI (Apr.)

The stability of the Caixin PMI last month suggests there is little immediate cause for concern over the health of China’s economy. That said, we do expect growth to start slowing again before long.

2nd May 2018 1 min read

Asia Data Response

Manufacturing PMIs (Apr.)

The April PMIs for Emerging Asia suggest that the region’s manufacturing sectors were lacklustre at the start of Q2. Focussing on the two economies where the PMIs most closely track the hard data...

2nd May 2018 1 min read

China Data Response

Official PMIs (Apr.)

The official manufacturing PMI points to economic conditions having remained healthy in April. But with headwinds from the property sector and slower credit growth building, we don’t think this...

30th April 2018 1 min read

Japan Economics Update

2% inflation target remains out of reach

The Bank of Japan today refrained from providing a concrete timeframe for hitting its 2% inflation target for the first time since Governor Kuroda took over. This highlights that policymakers have...

27th April 2018 1 min read

Japan Economics Weekly

How big a threat are rising hedging costs for banks?

An increase in hedging costs has undermined the appeal of investing in US$ bonds for Japanese investors. This won’t affect the profitability of banks much as their holdings of foreign bonds are small...

27th April 2018 1 min read

India Economics Update

Remittance inflows to remain strong

Remittance inflows are an important source of external funding for India, and were equivalent to 3% of GDP in 2017 – larger than FDI and portfolio inflows combined. Though there are some risks...

27th April 2018 1 min read

Japan Data Response

Labour Market & Ind. Prod. (Mar.) & Tokyo CPI (Apr.)

The slump in industrial production last quarter suggests that GDP shrank in Q1. Meanwhile, price pressures have started to moderate again even though the labour market remains very tight.

27th April 2018 1 min read

Asia Data Response

Korea GDP (Q1)

Korea’s economy rebounded strongly in the first quarter of the year and should continue to hold up well in the coming quarters, supported by a turnaround in the tourism sector, robust global demand...

26th April 2018 1 min read

India Chart Pack

Economy gathering momentum

Indian GDP growth hit a five-quarter high in Q4 2017, and various indicators suggest that the economy strengthened further in the first quarter of 2018. Industrial production growth last quarter may...

24th April 2018 1 min read

Bank of Japan Watch

Policy tightening remains a long way off

The unusual strength of wage growth in Japan has attracted attention recently. But the main development at the upcoming Bank of Japan meeting is likely to be another reduction in the Board’s forecast...

24th April 2018 1 min read

Japan Data Response

Flash Manufacturing PMI (Apr.)

The manufacturing PMI suggests that activity in the sector remains healthy but firms are getting increasingly concerned about the outlook for external demand.

23rd April 2018 1 min read

India Economics Update

MPC minutes highlight upside risks to inflation

The minutes of the Reserve Bank of India’s April policy meeting show that, despite the recent drop in headline inflation, the MPC is still concerned about the upside risks to the outlook.

20th April 2018 1 min read

Japan Data Response

Consumer Prices (Mar.)

Inflation ended the last fiscal year well below the Bank of Japan’s forecast for the current fiscal year and the Bank will have to lower its projections yet again.

20th April 2018 1 min read