Mexico's manufacturing recovered while construction activity is set to stabilize

Oct 12, 2015 18:50 pm UTC| Commentary

Mexicos industrial production increased 0.2% m/m sa in August as a result of a positive performance in manufacturing (1.0% m/m sa) partially offset by reductions in the production of mining (-0.3%) and in construction...

A Zombification could weigh on the long-term growth prospect of Chinese economy

Oct 12, 2015 18:38 pm UTC| Commentary Economy

Chinas state-owned banks will support its highly indebted companies. China should thus avoid a recession. However, Japan shows that keeping many seemingly dead companies (zombies) afloat weighs on the long-term growth...

USD weakness another reason to Buy

Oct 12, 2015 18:06 pm UTC| Commentary

The USD appears to have commenced its long-awaited retracement against Asian regional currencies, down 8% in the last week against the IDR alone. APAC airline earnings all have singularly negative responses to a rising...

Italian budget: Making the most of the new European fiscal rules

Oct 12, 2015 17:33 pm UTC| Commentary

The Italian cabinet is about to send its 2016 budget plan to the European Commission. The initial indications in economists possession are broadly consistent with European fiscal rules, in part because the government might...

Why it's ultimately an EM sell-off not a crisis?

Oct 12, 2015 15:55 pm UTC| Commentary

The FX market has been hunting for an EM currency crisis when many conditions that have been seen in the past do not exist today. The transmission mechanism to an EM currency crisis is different now, in a low inflation...

France H2 15 growth to be driven by domestic factors

Oct 12, 2015 12:48 pm UTC| Commentary

In terms of exports, momentum in France manufacturing output remains unconvincing. Looking through the quarterly volatility, manufacturing production has remained broadly flat for the past three years. For Europe as a...

France shows positive growth in Q2, but unlikely to add much more

Oct 12, 2015 12:30 pm UTC| Commentary

The positive surprise in Q2 of France came from the external sector, which posted the strongest positive contribution since Q4 11. This was mainly due to import growth receding a noticeable 1.6pp from Q1 to just 0.5% q/q,...