Australia & New Zealand Data Response Australia International Trade (Sep.) The rises in the international trade surplus and the number of building approvals in September are both encouraging signs as they highlight the growing importance of services exports and the recent... 2nd November 2017 · 1 min read
Australia & New Zealand Chart Pack Retail sector on the ropes Despite the sustained strengthening in the Australian labour market, retail sales have been unusually weak in recent months. Admittedly, some of this weakness can be explained by weak price pressures... 31st October 2017 · 1 min read
Latin America Chart Pack Fading reform hopes roil Brazilian markets Financial markets in Brazil have come under pressure over the past week as a split in President Temer’s ruling coalition has cast doubt over important parts of his reform agenda. The trigger for the... 27th October 2017 · 1 min read
Latin America Economics Update One chart to watch for Argentine investors The performance of President Macri’s Cambiemos coalition in last weekend’s legislative elections has given a boost to reform hopes, but we can’t escape the feeling that investors are glossing over the... 26th October 2017 · 1 min read
China Chart Pack Consumers remain upbeat The latest data on retail sales during China’s National Day “Golden Week” period suggest that consumer demand remains strong. Despite a further increase in overseas tourism during the holiday... 26th October 2017 · 1 min read
Asia Chart Pack Malaysia’s budget won’t be a giveaway bonanza While Malaysia has made good progress in bringing down its budget deficit, there remains limited room for a pre-election giveaway in the 2018 budget, which is due to be announced on 27th October... 26th October 2017 · 1 min read
Global Trade Monitor World trade strengthens while NAFTA talks sour The latest CPB data suggest that world trade volumes rebounded in August. Taking a range of indicators into account, the big picture is that the global trade recovery is still underway. 24th October 2017 · 1 min read
Africa Chart Pack Looking beyond the politics Attention this month has focused on political stories in Kenya, South Africa, and Angola. We will continue to cover these issues in other publications. While economic data released over the past month... 24th October 2017 · 1 min read
Emerging Markets Economics Update Tail risks to watch for in EMs Our relatively sanguine view on the outlook for EMs over the next 12-18 months has prompted several clients to ask about risks to our forecasts. While risks – both positive and negative – are by their... 24th October 2017 · 1 min read
Middle East & North Africa Economics Update Qatar: worst of the blockade impact appears to be over Recently-released GDP data confirmed that the blockade on Qatar dealt a blow to its economy in June, but more timely data suggest that the worst has now passed. That said, any recovery is likely to be... 24th October 2017 · 1 min read
India Chart Pack Fiscal deficit target under pressure The rapid expansion of the central government’s deficit in the early stages of the fiscal year is a regular occurrence, as revenues tend to get ramped up in latter months. Nevertheless, there are... 24th October 2017 · 1 min read
Japan Data Response Flash Manufacturing PMI (Oct.) Even though the manufacturing PMI weakened a touch this month, it still points to robust gains in industrial output. However, the survey suggests that price pressures will not strengthen any further... 24th October 2017 · 1 min read
Canada Economics Weekly Economic growth slowing Despite net external trade being a drag, the economy managed to grow by close to 2.0% q/q annualised in the third quarter, partly thanks to a big rebound in non-residential buildings investment... 20th October 2017 · 1 min read
China Economics Update Capital Flows Monitor (Sep.) Our estimates show that China saw a net inflow of capital last month, albeit a very small one, for the first time since 2014. Foreign investors acquired Chinese financial assets at the fastest pace in... 20th October 2017 · 1 min read
Japan Data Response External Trade (Sep.) Net exports probably supported quarterly GDP growth in Q3 despite September’s weakness in export volumes. But we expect overseas GDP growth to weaken so the slowdown in export growth should continue. 19th October 2017 · 1 min read
US Chart Pack Economy rebounding from hurricane disruption Although GDP growth looks to have slowed slightly in the third quarter, at least partly due to the disruption caused by Hurricanes Harvey and Irma, the surge in the ISM surveys suggests that... 18th October 2017 · 1 min read