Australia & New Zealand Economics Weekly RBA has more work to do We expect the Reserve Bank of Australia to follow up this week’s 25bp hike with additional policy tightening in the months ahead. Indeed, with growth set to accelerate further above potential this... 6th February 2026 · 4 mins read
US Rapid Response US ISM Services Index (Jan 2026) While not as eye-catching as last month’s rise in the ISM manufacturing index to a three-year high, the ISM services index remained at a healthy 53.8 in January, hinting at the potential for some more... 4th February 2026 · 2 mins read
Europe Economics Update ECB Bank Lending Survey (Q4 2025) The ECB’s Q4 Bank Lending Survey, published this morning, suggests that banks have become more cautious about lending to companies while consumers remain reluctant to spend. It also showed that the... 3rd February 2026 · 3 mins read
US Rapid Response US ISM Manufacturing Index (Jan 2026) The surge in the ISM Manufacturing Index in January suggests that after years of malaise, perhaps the manufacturing sector might be turning a corner. While the headline index is still at a level that... 2nd February 2026 · 2 mins read
Japan Rapid Response Retail Sales & Industrial Production (Dec.) Although activity indicators for December were relatively soft, they won’t have prevented the economy from bouncing back across Q4 as a whole. Moreover, there are still reasons to be cautiously... 30th January 2026 · 2 mins read
Canada Economics Weekly Business sentiment improving While we still expect that GDP will end the year on a softer note, the latest retail sales data suggest the economy performed a bit better than we thought a week ago, and the latest business surveys... 23rd January 2026 · 6 mins read
Australia & New Zealand Economics Weekly Australian economy continues to run hot We learned this week that Australia’s unemployment rate fell to a seven-month low in December. The strength of the labour market is a key reason to expect consumption growth to remain brisk in the... 23rd January 2026 · 5 mins read
US Chart Pack US Chart Pack (Jan. 2026) We see recent strength in AI-related business investment as the start of a multi-year capex boom, driving GDP growth of 3.0% this year and 2.5% in 2027. Despite the economy running hot and labour... 21st January 2026 · 1 min read
Australia & New Zealand Chart Pack ANZ Chart Pack (Jan. 2026) Our ANZ Chart Pack has been updated with the latest data and our analysis of recent developments. We believe the RBA will join the rather exclusive club of advanced economy central banks that tightens... 14th January 2026 · 1 min read
Japan Chart Pack Japan Chart Pack (Jan. 2026) Our Japan Chart Pack has been updated with the latest data and our analysis of recent developments. The economy will continue to grow at a healthy pace, which should ensure that the labour market... 12th January 2026 · 1 min read
Japan Economics Update Has Japan become a leading ICT economy? While Japanese firms seem to be investing more in information & communication technology than those in almost any other advanced economy, broader measures suggest that the country is not a leading... 6th January 2026 · 3 mins read
US Rapid Response US ISM Manufacturing Index (Dec. 2025) The modest decline in the ISM Manufacturing Index in December confirms that the sector was struggling for momentum around the turn of the year, but we doubt that this will be enough to prevent overall... 5th January 2026 · 2 mins read
US Chart Pack US Chart Pack (Dec. 2025) We judge that the recent strength in AI-related investment marks the start of a multi-year capex boom. We expect GDP growth to be 2.5% in both 2026 and 2027. While labour demand remains soft , the... 23rd December 2025 · 0 mins read
Canada Economic Outlook Soft growth to keep Bank on pause in 2026 The labour market has bounced back from the US tariff shock, but uncertainty over CUSMA and lower immigration will hold back GDP growth, which we expect to average 1.2% in 2026 and 1.5% in 2027. Lower... 18th December 2025 · 13 mins read
Emerging Markets Economics Chart Pack Emerging Markets Chart Pack (December 2025) Our Emerging Markets Chart Pack has been updated with the latest data and our analysis of recent developments. EM GDP growth has held up well in 2025, but we expect it to slow to ~3.5% in 2026-27, the... 18th December 2025 · 1 min read
Japan Economics Update BoJ set to hike further as business conditions strengthen The Q4 Tankan Survey struck all the right notes from the Bank of Japan’s perspective. It showed that business conditions are improving, profit margins remain elevated, and that firms are upbeat about... 15th December 2025 · 3 mins read
