Africa Data Response South Africa Manufacturing PMI (Jul.) The drop in South Africa’s manufacturing PMI provided the first strong signal that the sector’s rebound has stalled in recent weeks. With the authorities struggling to bring the virus under control... 3rd August 2020 · 2 mins read
Australia & New Zealand Economics Update Australia - State of disaster to slow recovery to a crawl The additional restrictions on activity imposed in Victoria this week to curb the renewed surge in virus cases will cause the recovery in output to slow markedly in Q3. 3rd August 2020 · 3 mins read
Japan Economics Update Implications of another state of emergency The second virus wave that is hitting Japan supports our view that Japan’s economy will contract more sharply this year than most anticipate. However, a renewed state of emergency would probably not... 3rd August 2020 · 3 mins read
Nordic & Swiss Data Response Switzerland CPI (July), Manufacturing PMIs (July) Inflation in Switzerland now appears to have troughed, but it is set to remain frustratingly weak over the coming years and a headache for the SNB. Meanwhile, the manufacturing PMIs from July suggest... 3rd August 2020 · 2 mins read
Emerging Europe Data Response Manufacturing PMIs (Jul.) The further rise in the manufacturing PMIs across Central Europe in July is an encouraging sign that the economic recovery continued at the start of Q3. But the fall in Russia’s PMI last month adds to... 3rd August 2020 · 2 mins read
India Data Response Manufacturing PMI (Jul.) The small drop in July’s manufacturing PMI adds to signs elsewhere that the post-lockdown recovery is stalling. Looking ahead, the road back to normality for the manufacturing sector will be slow and... 3rd August 2020 · 2 mins read
China Data Response Caixin Manufacturing PMI (Jul.) The official PMIs released on Friday had already pointed to a robust recovery at the start of Q3. But the Caixin index published today is even more upbeat and suggests that the pace of expansion in... 3rd August 2020 · 2 mins read
Asia Data Response Manufacturing PMIs and Korea Trade (Jul.) PMIs for Emerging Asia and Korean trade data suggest that the recovery in economic activity across the region is picking up some momentum. That said, the data do not point to the kind of strong... 3rd August 2020 · 3 mins read
India Data Response Core Infrastructure Industries (Jun.) The contraction in India’s core infrastructure industries index eased slightly in June, but the weakness of industry will still have weighed heavily on GDP in Q2. What’s more, there are already signs... 31st July 2020 · 2 mins read
Europe Data Response Euro-zone GDP (Q2), HICP (Jul.) There are few silver linings in the data published today, which confirmed the massive slump in Q2. Parts of the economy have sprung back to life since April, but the damage already done plus the... 31st July 2020 · 3 mins read
Asia Data Response Taiwan GDP (Q2) The 0.7% y/y drop in GDP last quarter was Taiwan’s worst performance since the Global Financial Crisis, but it still represents an unusually strong performance given what’s happening in the rest of... 31st July 2020 · 3 mins read
Europe Data Response Spain GDP (Q2) The record plunge in Spain’s GDP of 18.5% q/q is likely to have been one of the biggest falls of any euro-zone country in Q2, illustrating the severity of the country’s lockdown and its slow and... 31st July 2020 · 2 mins read
Europe Data Response French GDP (Q2) While the catastrophic collapse in French Q2 GDP was hardly a shock given the country’s stringent lockdown, it still highlights the sheer extent of the economic damage wrought by the pandemic. High... 31st July 2020 · 2 mins read
China Data Response Official PMIs (Jul.) The latest survey data suggest that last quarter’s rapid economic rebound has extended into the second half of the year thanks to recovering foreign demand and strong fiscal support. 31st July 2020 · 2 mins read
Japan Data Response Labour Market & Industrial Production (Jun.) The sharp drop in the number of furloughed workers and the rise in industrial production in June bodes well for the recovery in economic activity in the second half of the year. But while the... 31st July 2020 · 2 mins read
