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.

China Economics Update

The PBOC continues to pretend to follow the Fed

For the second time since December, the People’s Bank has responded to a Fed rate hike by raising the rates it charges when providing funds in China’s interbank market. But contrary to perceptions, it...

22nd March 2018 1 min read

China Activity Monitor

Growth stable at the start of the year

Our China Activity Proxy (CAP) suggests that growth has stabilised recently after a sharp slowdown since the middle of 2017. Economic conditions may improve in the near term as the government’s...

22nd March 2018 1 min read

Japan Data Response

Flash Manufacturing PMI (Mar.)

While the manufacturing PMI weakened in March, it remains consistent with solid gains in industrial production. However, the hard data suggest that output will fall this quarter.

22nd March 2018 1 min read

Japan Economics Update

Monetary Indicators Monitor (Feb.)

Japanese households and firms now both receive more in interest income than they pay out on their debt. That is making life difficult for banks. The main factor keeping them afloat is their sizeable...

20th March 2018 1 min read

Japan Data Response

External Trade (Feb.)

Seasonal swings related to Chinese New Year pushed the trade balance into the red in February. However, we suspect that these moves will reverse in March.

19th March 2018 1 min read

India Data Response

Wholesale Prices (Feb.)

Headline wholesale price inflation edged down in February. But stripping out the effect of volatile fuel and food prices, our measure of core WPI inflation rose accelerated month. With reasons to...

14th March 2018 1 min read

China Data Response

Activity & Spending (Jan. & Feb.)

Today’s data are broadly upbeat and suggest that the Chinese economy had a strong start to the year. But we expect growth to begin slowing again in the months ahead as the one-off boost to output from...

14th March 2018 1 min read

Japan Data Response

Machinery Orders (Jan.)

The rebound in machinery orders in January lifted them above their Q4 average. With firms facing severe capacity and staff shortages, business investment will remain a growth driver this year.

14th March 2018 1 min read

Japan Data Response

Labour Market (Jan.) & Tokyo CPI (Feb.)

The labour market continues to tighten and price pressures are strengthening further. However, there is still a long way to go to reach the Bank of Japan’s 2% inflation target.

2nd March 2018 1 min read

India Data Response

Manufacturing PMI (Feb.)

India’s manufacturing PMI edged down in February. But the reading is still strong, and prospects for local manufacturers look relatively bright over the near term.

1st March 2018 1 min read

China Data Response

Caixin Manufacturing PMI (Feb.)

The survey data don’t offer a clear signal on the strength of factory activity last month. The Caixin manufacturing PMI was largely unchanged but the official index dropped sharply. The former is...

1st March 2018 1 min read

Asia Data Response

Manufacturing PMIs (Feb.)

The February PMIs for Emerging Asia suggest the region’s manufacturing sectors remained in decent health. While the surveys point to rising prices, the big picture is that inflation in most of these...

1st March 2018 1 min read

Japan Data Response

Capital Spending (Q4)

The jump in capital spending excluding software last quarter suggests that non-residential investment was stronger than initially reported. However, this alone won’t be enough to lift overall GDP...

1st March 2018 1 min read

China Data Response

Official PMIs (Feb.)

A sharp decline in the official manufacturing PMI this month suggests that the survey data may finally be responding to the slowdown in growth shown on our China Activity Proxy late last year. And...

28th February 2018 1 min read

Japan Data Response

Industrial Production & Retail Sales (Jan.)

Industrial production plunged and retail sales fell rather sharply in January. It looks increasingly likely that the longest period of uninterrupted expansion will come to an end this quarter.

28th February 2018 1 min read

India Economics Update

State elections come into focus

Prime Minister Modi is facing his busiest year of state elections in 2018. Elections that are due to take place this year will have an important bearing on economic policy at the local level, and will...

27th February 2018 1 min read