US Data Response Retail Sales & Industrial Production (Apr.) Solid gains in retail sales and manufacturing output in April indicate that the economy remains resilient to the impact of higher interest rates and tightening lending standards. That said, real... 16th May 2023 · 3 mins read
Australia & New Zealand Chart Pack Housing downturn not over yet Australia’s house prices have rebounded over the last couple of months and most leading indicators suggest that the recovery has legs. However, we doubt that a sustained recovery is on the cards... 15th May 2023 · 11 mins read
Japan Chart Pack Bank of Japan kicking the can down the road Governor Ueda presided over his first policy meeting late last month and opted to keep all monetary policy settings, including Yield Curve Control (YCC), completely unchanged. To be sure, Mr Ueda also... 11th May 2023 · 11 mins read
Japan Data Response Japan Economy Watchers Survey (Apr. 2023) The further rise in both the current and outlook readings point to continued upward momentum in services spending this quarter. Meanwhile, manufacturing conditions fell slightly but remained robust... 11th May 2023 · 2 mins read
Middle East & North Africa Economics Update Saudi economy contracts in Q1, set for a weak 2023 Flash GDP figures showed that Saudi Arabia’s economy contracted in Q1 on the back of OPEC+-agreed oil output cuts, but growth in the non-oil economy remained strong. The “voluntary” oil production... 9th May 2023 · 3 mins read
Europe Chart Pack Core inflation too high for ECB to stop hiking April’s inflation data provided little sign that underlying price pressures are easing. Admittedly, the core rate edged down from 5.7% y/y in March to 5.6%, which was the first decline in 15 months... 5th May 2023 · 10 mins read
China Rapid Response PMIs (Apr.) The latest survey data add to wider evidence that while China’s recovery remains robust, it is losing some momentum. In particular, the manufacturing PMIs fell below 50, suggesting that the reopening... 4th May 2023 · 3 mins read
Europe Economics Update Household spending squeeze to continue Policy tightening over the past year has pushed up euro-zone households’ interest costs substantially and is a key explanation for household consumption falling. With interest costs set to rise a lot... 3rd May 2023 · 3 mins read
Australia & New Zealand Data Response Australia Retail Sales (Mar.) While retail sales values rose at a decent pace in March, we estimate that sales volumes fell the most since 2021’s lockdowns last quarter and that weakness has further to run. That in turn should... 3rd May 2023 · 2 mins read
Japan Rapid Response Japan Industrial Production & Retail Sales (Mar. 23) 28th April 2023 · 2 mins read
China Chart Pack Financial flows, not trade, leading CNH expansion The renminbi surpassed the US dollar to become the most-commonly-used currency in China’s cross-border transactions for the first time last month. Part of the increase – the part that has received... 27th April 2023 · 11 mins read
Canada Chart Pack Housing turnaround makes the Bank’s job harder House prices edged up in March and the sharp rise in the sales-to-new listing ratio suggests there are further gains to come. As the improvement has been driven mainly by a collapse in new listings... 26th April 2023 · 8 mins read
