Emerging Markets Economics Update EM industry: brighter outlook, but headwinds persist The manufacturing PMIs picked up in most emerging markets in January, offering hope that the worst for EM industry may have now passed. But activity remains soft against the backdrop of high interest... 1st February 2023 · 2 mins read
Global Economics Update PMIs point to continued industrial downturn The latest manufacturing PMIs suggest that output has continued to weaken, although the pace of contraction is slowing in several economies. Product shortages have diminished further at the global... 1st February 2023 · 2 mins read
US Data Response ISM Manufacturing Index (Jan.) The further fall in the ISM manufacturing index to 47.4 in January, from 48.4, suggests that the factory sector has yet to benefit from the improvements in manufacturing prospects in Europe and China... 1st February 2023 · 2 mins read
UK Economics Update Monetary policy has lost some of its potency The shift away from floating-rate to fixed-rate mortgages has meant that it was always going to take longer than in past tightening cycles for the rise in interest rates to feed through to the real... 1st February 2023 · 4 mins read
Africa Data Response South Africa Manufacturing PMI (Jan.) South Africa’s manufacturing PMI remained essentially unchanged, at 53.0, in January, but while the breakdown provided mixed messages, we think that the underlying picture for the manufacturing sector... 1st February 2023 · 3 mins read
Emerging Europe Data Response Manufacturing PMIs (Jan.) The manufacturing PMIs for January rose in most countries and add to evidence from other surveys that, while economies in Central and Eastern Europe may struggle in the early part of this year, the... 1st February 2023 · 2 mins read
China Data Response Hong Kong GDP (Q4 Preliminary) Hong Kong’s GDP was unchanged in q/q terms last quarter. This was largely due to a further decline in exports but the worst may be over on that front given that global growth is probably close to a... 1st February 2023 · 3 mins read
India Economics Update Finance Ministry strikes a delicate balance Finance Minister Nirmala Sitharaman appears to have successfully demonstrated her long-term commitment of reining in the fiscal deficit while still providing support to the economy in today’s FY23/24... 1st February 2023 · 3 mins read
India Data Response Manufacturing PMI (Jan.) India’s manufacturing PMI showed signs of moderation in January after defying gravity for several months previously. It should drop further over the coming months as the economy comes off the boil. 1st February 2023 · 2 mins read
Asia Data Response Manufacturing PMIs & Korea Trade (Jan.) Manufacturing PMIs edged up slightly in January but remained subdued overall. We continue to expect weak global demand and elevated interest rates to drag on manufacturing activity in the coming... 1st February 2023 · 2 mins read
China Data Response Caixin Manufacturing PMI (Jan.) The Caixin manufacturing PMI published today edged up slightly in January as disruption from the reopening wave eased but it remained at a subdued level. Taken together with the official survey... 1st February 2023 · 3 mins read
Africa Chart Pack Growth faltering in region’s biggest economies While the economic outlook in much of the world has turned less downbeat in recent weeks, the prospects for Sub-Saharan Africa’s two biggest economies have, if anything, got gloomier due to homegrown... 31st January 2023 · 12 mins read
Middle East & North Africa Chart Pack Egypt: benefits of a weaker currency emerging The further falls in the Egyptian pound over the past month will push up inflation and prompt the central bank to deliver more monetary tightening, but there are already signs that the benefits of a... 31st January 2023 · 13 mins read
