Japan Data Response Current account, bank lending (Apr.) & EWS (May) Japan’s current account surplus fell further in April, supporting what we already knew about the effect of the disaster on trade. Survey-based evidence suggests things are turning around with... 8th June 2011 · 1 min read
Japan Economics Update Falling exports turn trade balance negative Japan registered her first seasonally-adjusted trade deficit in two years in April. Exports not only failed to increase after the initial disruption caused by the earthquake but also fell further... 25th May 2011 · 1 min read
Europe Data Response Euro-zone CPI (Final, Apr.) & Trade (Mar.) April’s sharp rise in core inflation is probably not as worrying as it may seem, but it will do nothing to ease the ECB’s inflation concerns, suggesting that the Bank may raise interest rates again in... 16th May 2011 · 1 min read
US Economics Weekly What's driven the rebound in exports? It's taken over two years, but the US is at last exporting as much as it was before the recession. And the lower dollar may soon give exports an extra lift. Nevertheless, as imports are rising just as... 16th May 2011 · 1 min read
Canada Data Response International Merchandise Trade (Mar.) Following the boost from a rebound in energy output late last year, export growth held up relatively well in Q1, thanks in part to a rebound in the auto sector. March’s trade data suggest the economy... 11th May 2011 · 1 min read
US Data Response International Trade (Mar.) It's taken two-and-a-half years, but US exports finally recovered in March to the levels seen before the recession. However, imports have risen just as fast. As the level of imports is still much... 11th May 2011 · 1 min read
UK Data Response Trade (Mar.) The widening in the UK trade deficit in March was all but inevitable after such a sharp narrowing in the previous two months and the big picture is that the trade position is still looking a lot... 11th May 2011 · 1 min read
China Data Response Foreign Trade (Apr.) Weaker-than-expected imports brought China’s trade account back into a large surplus in April. Imports from Japan fell, but most striking was the slide in total commodity purchases. We estimate that... 10th May 2011 · 1 min read
China Economics Update Thaw in US-China relations unlikely to last Today’s economic discussions between China and the US are taking place in an atmosphere of unusual warmth. There are two obvious reasons – the fall in China’s trade surplus and the renminbi’s recent... 9th May 2011 · 1 min read
US Economics Focus America may yet embrace trade protection Trade protection is far from an ideal policy, and indeed it carries serious dangers, but in current circumstances it may offer America the only way out of its difficulties. 26th April 2011 · 1 min read
Japan Economics Update Exports drop after earthquake disruption Japanese trade took a sharp turn for the worse in March after the earthquake and tsunami disrupted production and damaged infrastructure. The trade surplus fell to its lowest level in two years as... 20th April 2011 · 1 min read
UK Economics Update Are the trade figures better than they look? Rising commodity prices have been boosting import values, meaning that the underlying trade deficit is not quite as bad as the headline figures suggest. Nonetheless, this goes only some of the way to... 19th April 2011 · 1 min read
Europe Data Response Euro-zone CPI (Final, Mar.) & Trade (Feb.) March’s rise in headline euro-zone CPI inflation, which was down to a pick-up in core inflation, is not as alarming as it may seem. But it will do nothing to ease the ECB’s concerns about building... 15th April 2011 · 1 min read
Global Economics Update What does China's trade rebalancing mean for the world? The recent decline in China’s trade surplus is positive for global growth but it will rapidly reverse if commodity prices fall. Concerns that reduced currency intervention by China will push up... 12th April 2011 · 1 min read
US Data Response International Trade (Feb.) The narrowing in the trade deficit in February is a brief respite before the impact of the more recent surge in oil prices pushes the deficit sharply wider. In any case, it looks like net trade was a... 12th April 2011 · 1 min read
UK Data Response Consumer Prices (Mar.), BRC Sales (Mar.) & Trade (Feb.) March’s drop in both inflation and consumer spending clearly relieves some of the pressure on the Monetary Policy Committee (MPC) to raise interest rates soon. Although inflation is probably set to... 12th April 2011 · 1 min read
