Global IP growth and trade look to have bottomed
Aug 20, 2015 05:08 am UTC| Commentary Economy
Global IP growth was zero on a 3m basis in May and the 4.5pp slowing in the IP growth rate since January was quite large and only slightly smaller than the slowdowns in the springs of 2010 and 2011. Of note, IP growth in...
Russia's economic growth indicators signal extended recession
Aug 20, 2015 03:43 am UTC| Commentary Economy
Russia growth indicators for July deteriorated further. In particular, real wages declined 9.2% y/y from an unrevised -7.2% and revised -8.6% in June and investment fell 8.5% y/y from -7.1% in June. Retail sales,...
U.K employment continues to slowdown
Aug 19, 2015 08:59 am UTC| Commentary Economy
U.K. Labour market report for June showed wages somewhat on the soft side, as bonuses contracted 17%, pushing headline average weekly earnings (AWE) down below expectations. Excluding bonuses, AWE were just in line with...
Mexico's GDP growth likely slowed in Q2
Aug 19, 2015 04:32 am UTC| Commentary Economy
Mexicos industrial production and economic activity releases suggest that growth likely slowed to 2.0% yoy in Q2 even though activity growth improved to 2.2% yoy in June. While the supply side proxy puts Q2 growth at 2.1%...
Brazil inflation acceleration continues in Q3
Aug 19, 2015 04:19 am UTC| Commentary Economy
While Brazil mom prices rose 0.62% in July, less than the 0.79% mom in June, annual inflation jumped to 9.56% yoy from 8.89% yoy in June. The acceleration was quite broad-based with the mom rate of price change exceeding...
Indonesia: Disappointing investment growth weights on GDP growth
Aug 19, 2015 01:23 am UTC| Commentary Economy
Trade surplus in excess of USD 1bn used to prompt cheers in the markets but this was not the case for Julys USD 1.3bn. Perhaps markets are no longer concerned about the current account (C/A) deficit, which has indeed...
U.S. fundamentals expand as china takes it on the chin
Aug 18, 2015 16:13 pm UTC| Commentary Economy
U.S. housing starts expanded to the highest level in nearly 8 years to 1.21 million annualized units with positive revisions in June. This is on top of last weeks strong retail sales as well as employment numbers. The...
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