Greece politics and economics weakening the banks

Jul 13, 2015 03:36 am UTC| Commentary

The damage inflicted on the Greek economy over the past six months has been remarkable.In addition to a weakening tax base, tax compliance is also expected to have dropped materially in recent weeks. Since the crisis hit...

China's Q2 GDP growth to fall to 6.8% yoy, but monthly activity data to improve further

Jul 13, 2015 02:16 am UTC| Commentary

Real GDP growth is expected to slide further from 7% yoy in Q1 to 6.8% yoy in Q2, but qoq growth likely rebounded from 1.3% to 1.4%. Furthermore, June activity data should show further improvement, which is probably more...

UK total earnings growth to rise strongly

Jul 13, 2015 02:04 am UTC| Commentary

The LFS unemployment rate should continue on its downward path, dropping from 5.5% to 5.4% in the three months to May. The new claimant count which now includes claimants of Universal Credit as well of Jobseekers Allowance...

Greek Banking System: Greece's Achilles heel

Jul 13, 2015 01:45 am UTC| Commentary

The past six months have had a dramatic effect on the Greek banking system, having lost nearly 25% of deposits since December 2014. Confidence has evaporated, resulting in a fully-fledged bank run that led the government...

Greece: Stay tuned for next Wednesday

Jul 13, 2015 01:15 am UTC| Commentary

In light of the more positive tone from the institutions, broad support from the political parties domestically, the risks of a Greek exit have reduced in the very short term as the ECB should remain supportive as long as...

UK inflation stable at 0.1%

Jul 13, 2015 00:54 am UTC| Commentary

The June price data should show opposing influences cancelling each other out to leave the CPI inflation rate at 0.1% yoy. In May we were surprised to see food deflation ease by 1pp whilst food producer output price...

UK credit conditions hardly changing

Jul 13, 2015 00:44 am UTC| Commentary

The Q1 Bank of England Credit Conditions survey reported that mortgage availability was broadly unchanged but that mortgage demand decreased significantly. This was somewhat surprising, given that consumer confidence was...