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

FX reserves (Jan.)

China’s foreign exchange reserves are now worth less than $3trn for the first time since 2011. That said, they remain sufficiently large not to warrant any immediate concerns over the sustainability...

7th February 2017 1 min read

Asia Data Response

Indonesia GDP (Q4)

Indonesia recorded another quarter of disappointing growth in the final quarter of last year. With commodity prices likely to remain depressed and policymakers running out of scope to stimulate the...

6th February 2017 1 min read

Japan Data Response

Labour Cash Earnings (Dec.)

Headline wage growth slowed in December as firms cut winter bonuses. While it should pick up again in coming months, a strong rebound is not on the cards.

6th February 2017 1 min read

Asia Economics Focus

Can manufacturing revive growth in Indonesia?

A strong manufacturing sector would go some way to reviving the economic fortunes of Indonesia. However, the challenges are formidable, and unless more progress is made on liberalising the labour...

2nd February 2017 1 min read

Asia Data Response

Manufacturing PMIs (Jan.)

Emerging Asia’s PMIs for January suggest the region’s manufacturing sectors started 2017 on a lacklustre note. Focusing on the two economies where the PMIs most closely track the hard data, Taiwan’s...

2nd February 2017 1 min read

China Data Response

Official PMIs (Jan.)

Today’s PMI readings suggest that China’s economy continued to perform well last month, though we doubt the current strength will be sustained for much longer.

1st February 2017 1 min read

Japan Economics Weekly

Will Trump wreak havoc on Japan’s exporters?

President Trump has threatened to impose a tariff on Mexican and Chinese imports, which wouldn’t create insurmountable challenges for Japanese firms producing cars and other products in these...

27th January 2017 1 min read

Asia Data Response

Taiwan GDP (Q4 Advanced)

Taiwan’s economy rebounded strongly in the final quarter of last year, but with weak global demand set to drag on exports and limited scope for more policy support, the recovery is likely to run out...

25th January 2017 1 min read

Japan Data Response

External trade (Dec.)

The first rise in export values in more than a year reflects a combination of soaring export volumes and the recent depreciation of the yen. However, a weaker exchange rate tends to lift import prices...

25th January 2017 1 min read

Asia Data Response

Korea GDP (Q4 Preliminary)

Korea’s economy ended 2016 on a soft note, and we expect growth will slow further in the quarters ahead against a backdrop of mounting external and domestic headwinds.

24th January 2017 1 min read

Japan Economics Weekly

Budget improvements set to stall

Official data show a sharp decline in the budget deficit but it remains sizeable and we don’t expect the narrowing to continue. In any case, the key determinant of the sustainability of the public...

20th January 2017 1 min read

China Data Response

GDP (Q4) & Activity & Spending (Dec.)

GDP growth edged up last quarter, though few still take the official figures at face value. Our own measure of economic activity points to a much more pronounced recovery but one that is unlikely to...

20th January 2017 1 min read

Japan Economics Update

Monetary Indicators Monitor (Dec.)

Corporate debt affordability remains extraordinarily high, as corporate profit margins have rebounded and borrowing costs have continued to decline. Firms have responded with higher corporate bond...

18th January 2017 1 min read

Japan Economics Weekly

How much spare capacity is left?

Recent revisions to the GDP data suggest that the output gap has all but closed. However, the main factor holding back inflation over the last two decades were entrenched deflation expectations rather...

13th January 2017 1 min read

China Data Response

Trade (Dec.)

A strong end to the year for global manufacturing failed to prevent a decline in Chinese trade growth last month.

13th January 2017 1 min read

Asia Economics Update

Korea holds rates, but easing in 2017 likely

The Bank of Korea (BoK) kept its policy rate unchanged at 1.25% today, but with growth likely to slow further and inflation benign, we expect a rate cut later this year.

13th January 2017 1 min read