Asia Chart Pack Central banks remain in hawkish mode, for now Monetary policy makers across Emerging Asia remain in hawkish mode – every central bank in the region with the exceptions of China and Vietnam has now raised interest rates this year – and further... 15th September 2022 · 15 mins read
Australia & New Zealand Data Response New Zealand GDP (Q2 2022) Despite a large rise in Q2, New Zealand’s GDP remains well below its pre-virus trend and that shortfall will widen as the surge in interest rates weighs on activity. 15th September 2022 · 2 mins read
Global Economics Chart Pack Major economies struggling for different reasons The latest data have revealed that the world’s major economies are all struggling, but for different reasons. In Europe, the energy crisis is largely behind the recent softness in consumer and... 14th September 2022 · 13 mins read
Canada Data Response Manufacturing Sales (July) Although manufacturing sales fell by 0.9% m/m in July, in line with the preliminary estimate, that was a better outcome than we had expected given the more downbeat export data. Furthermore, the... 14th September 2022 · 2 mins read
Nordic & Swiss Chart Pack Price pressures to keep central banks in hawkish mood Consumer price inflation has continued to accelerate in Switzerland and across the Nordics, adding to the pressure on central banks to tighten monetary policy more aggressively. In Switzerland... 14th September 2022 · 4 mins read
Emerging Europe Economics Update Energy crisis support won’t avert recessions across CEE Fiscal support to protect households and businesses from sky-high energy prices generally amounts to around 2-3% of GDP across Central and Eastern Europe (CEE). This will cushion, rather than fully... 14th September 2022 · 4 mins read
Africa Data Response South Africa Activity Data (Jul.) July’s hard activity data out of South Africa suggest that the economy started the third quarter on a weak footing. With little momentum, GDP growth is likely to be subdued over the coming quarters... 14th September 2022 · 3 mins read
Japan Chart Pack MoF sending stronger signals it could intervene Strong US CPI data this week triggered a renewed slide in the yen to the brink of 145 and warnings from the Ministry of Finance that it could intervene. The Bank of Japan is also reported to have... 14th September 2022 · 11 mins read
Europe Data Response Euro-zone Industrial Production (July) July’s 2.3% monthly decline in euro-zone industrial production was largely due to a big fall in Ireland’s output. But even excluding Ireland, production decreased in July, with energy-intensive... 14th September 2022 · 2 mins read
Australia & New Zealand Economics Focus Why Australia will avoid a recession The continued resilience of the economy means that the RBA will have to raise rates more sharply than most expect, which in turn will result in a more severe slowdown in activity than widely... 14th September 2022 · 16 mins read
India Economics Update Coal shortages could take steam out of economy India is facing renewed concerns about energy supply, fuelled by low inventories of coal. With the economy very reliant on coal for electricity generation, persistent shortages would almost certainly... 13th September 2022 · 2 mins read
Canada Economics Update Is the government to blame for labour shortages? The public sector has been responsible for almost 90% of the rise in total employment since the pandemic and now accounts for the largest sustained share of employment since the early 1990s. The... 13th September 2022 · 4 mins read
Middle East & North Africa Economics Update Saudi economy set for strongest growth in a decade Saudi Arabia’s economy enjoyed a strong Q2, growing by a rapid 12.2% y/y, and timely data point to a robust third quarter as well. However, the recent cautious approach taken by OPEC+ towards oil... 13th September 2022 · 2 mins read
Europe Data Response German ZEW Survey (September) The larger-than-expected fall in the German ZEW sentiment indicator in September adds to the evidence that the German economy is already contracting. Meanwhile, the final inflation figures for August... 13th September 2022 · 2 mins read
