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 Data Response

Activity & Spending (Oct.)

While official figures show a small deceleration in industrial output growth last month, our own measure points to a much shaper decline. Meanwhile, the are signs in the rest of today’s data that the...

14th November 2017 1 min read

China Data Response

Bank Lending & Broad Credit (Oct.)

Higher market rates are driving a slowdown in credit growth that is set to weigh on economic activity in coming quarters. Weaker incoming data should keep the PBOC from tightening policy any further.

13th November 2017 1 min read

Japan Economics Weekly

Why is wage growth still subdued?

Wage growth is likely to pick up over coming months as the labour market remains extremely tight. But unusually low job mobility in Japan, which is linked to the widespread use of seniority wages and...

10th November 2017 1 min read

Australia & New Zealand Economics Weekly

A state of convergence

Over the next few years we expect that the relative performance of the largest states in Australia will converge, as the mining-exposed states of Queensland and Western Australia benefit most from the...

10th November 2017 1 min read

Japan Data Response

Economy Watchers Survey (Oct.)

The Economy Watchers Survey was the strongest it has been since 2014’s sales tax hike last month. Job growth should therefore remain strong and the recent slowdown in consumer spending should come to...

9th November 2017 1 min read

China Data Response

Consumer & Producer Prices (Oct.)

Higher-than-expected inflation last month means that the China reflation story remains alive for now. But with the economy set to soften in the coming quarters and current price gains partly the...

9th November 2017 1 min read

Japan Data Response

Machinery Orders (Sep.)

The plunge in machinery orders in September followed strong gains in previous months and orders still recorded a solid rise last quarter. The upshot is that we’ve pencilled in another increase in non...

9th November 2017 1 min read

Asia Economics Update

Thai rates to stay low

Against a backdrop of robust growth and subdued inflation, today’s decision by the Bank of Thailand (BoT) to leave its key interest rate unchanged at 1.50% came as no surprise. The accompanying...

8th November 2017 1 min read

China Data Response

Trade (Oct.)

A shift in the timing of the Mid-Autumn Festival explains much of the decline in headline trade growth in October. But even after accounting for seasonal factors, trade volumes have edged down...

8th November 2017 1 min read

India Economics Update

Inflation will resume accelerating soon

We think that consumer price inflation held steady in October as a slight rise in food inflation was offset by a drop in fuel inflation. But with core price pressures building, inflation is likely to...

8th November 2017 1 min read

Europe Data Response

German Industrial Production (Sep.)

The drop in German industrial production in September did not reverse August’s sharp rise. The sector performed well in Q3 as a whole and surveys point to an acceleration to come.

7th November 2017 1 min read

Asia Economics Update

Sri Lanka’s central bank has little room for manoeuvre

Sri Lanka’s central bank (CBSL) left rates on hold today, and the accompanying monetary policy statement supports our view that rate changes are not on the horizon. CBSL will be wary of hiking rates...

7th November 2017 1 min read

Japan Data Response

Labour Cash Earnings (Sep.)

Wage growth rebounded in September and strong growth in part-time earnings suggest that it will pick up further in coming months. But the bigger picture is that much stronger increases would be needed...

7th November 2017 1 min read

Asia Data Response

Indonesia GDP (Q3)

The gentle acceleration in Indonesia’s GDP growth in the third quarter to 5.1%, from 5.0%, is unlikely to mark the start of a sustained recovery in the economy. Given the mounting headwinds facing the...

6th November 2017 1 min read

Australia & New Zealand Economics Update

New CPI weights mean sub-2% inflation lasts longer

The new CPI spending weights suggest that inflation will be 0.2 percentage points lower than otherwise over the next two years and therefore support our view that underlying inflation will stay below...

6th November 2017 1 min read

India Economics Update

Demonetisation: one year on

A year after the Indian government’s surprise announcement that the bulk of the country’s bank notes were being cancelled, it is clear that the negative impact on incomes and output was substantial –...

6th November 2017 1 min read