UK consumer credit growing at 7.2%y/y

Jul 03, 2015 05:58 am UTC| Commentary

The April Lending Report showed a surprise fall in mortgage approvals (down to 64.4k from a downwardly revised 14 month high of 67.6k), contradicting BBA data released earlier showing further pickup. Meanwhile, net lending...

ECB does not pull ELA plug for Greece

Jul 03, 2015 05:48 am UTC| Commentary

The ECB did not pull the ELA plug, as expected. Otherwise, the consequences would be a collapse of the Greek banking sector, plunging the country into an even more chaotic situation, and forcing the Greek government to...

Malaysia: Lower oil prices’ impact on the trade balance

Jul 03, 2015 05:47 am UTC| Commentary

Malaysias trade surplus was manageable in May and exports fell. The softness in trade is a direct result of lower crude prices and their impact on LNG prices, a dynamic that is starting to feed through to exports.Q2 is...

Eurozone's final services PMI to suggest fastest growth for 4 years

Jul 03, 2015 05:46 am UTC| Commentary

The flash euro area services and composite PMIs, published last week, were 54.4 and 54.1 respectively - both at four-year highs, implying the fastest growth in four years. This was primarily driven by strong outstanding...

Japan's IP on track to turn down q/q in Q2, in line with real exports

Jul 03, 2015 05:35 am UTC| Commentary

The biggest downside surprises relative to Japans previous months METI forecast indices were in general machinery and electronic parts/devices, which also have the highest export ratios among all industries."Industrial...

Uncertain about Greece referendum

Jul 03, 2015 05:24 am UTC| Commentary

Polls about Greeces possibility to be in euro zone send ambiguous signal. Reuters reported a poll from Alco showed 57% in favour of reaching a deal (29% against) while a poll from Kapa Research showed 47.2% in favour (33%...

UK services PMIs expected to rise

Jul 03, 2015 05:19 am UTC| Commentary

The services PMI has cooled markedly over the last year from the most recent peak of 60.5 in August 14 to 56.5 by May this year, in tandem with a fall in orders. However, business expectations have been more stable and...