Russia's real sector data point to possible recession trend moderation
Sep 17, 2015 15:17 pm UTC| Commentary
Real sector data for August were mixed. Business indicators were better, implying positive momentum change, with the rate of decline moderating. In particular, real investment improved to -6.8% y/y from -8.5% in July, much...
Philly Fed manufacturing index falls, while survey details remain positive
Sep 17, 2015 14:58 pm UTC| Commentary
The Philly Fed manufacturing index fell to -6.0 in September, well below forecast (6.0) and consensus expectations (5.8), while the details of the survey suggest actual activity held up. The headline measure of general...
Housing starts in US soften in August, but still up 16.5% relative to a year ago
Sep 17, 2015 14:49 pm UTC| Commentary
Housing starts fell to 1,126k units (annualized) in August, coming in below market expectations for a 1,160k print. Negative revisions to the prior months tally shaved 45k off Julys headline, lowering it from 1,206k to...
US current account deficit narrows in Q2
Sep 17, 2015 14:35 pm UTC| Commentary
The US current account deficit narrowed more than expected in Q2 15, to $109.7bn from a revised $118.3bn in Q1. Forecast ($113.0bn) and the consensus ($111.5bn) had looked for a modest narrowing in line with the monthly...
US initial jobless claims drop in September survey week
Sep 17, 2015 14:28 pm UTC| Commentary
Initial jobless claims fell 11k to 264k in the week ending September 12, coming in below our forecast (275k) and consensus expectations (275k) for a nearly unchanged reading. The decline in survey-week September initial...
Russia's labour market remains soft, while wages continue to grow
Sep 17, 2015 06:11 am UTC| Commentary
Russias real wages are set to be hit again by slightly higher inflation observed in August as the wage - inflation spiral remains broken. The local labour market prefers to adjust at the cost of the nominal wage bill...
Russian private consumption is set to improve, but only for a short time
Sep 17, 2015 05:49 am UTC| Commentary
The intense depreciation of the ruble in August, weakening nearly 14% against the USD, and early signs that FX was boosting inflation reminded us of late 2014 when households spent a remarkable portion of their ruble...
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