Germany industrial activity still weak in May

Jul 07, 2015 05:19 am UTC| Commentary

Industrial output is still failing to lift off convincingly in Germany this Spring.Despite the weak momentum, the average for Q2 should improve compared with Q1, providing evidence that manufacturing is likely to gradually...

ECB likely to maintain ELA to Greece

Jul 07, 2015 05:14 am UTC| Commentary

With the line of communication still, the ECB is likely to maintain ELA. However, the government is likely to issue IOUs which could be used to pay civil servant and pensioners or to alleviate the Greek banks liquidity...

EU Summit to give negotiations another chance

Jul 07, 2015 05:10 am UTC| Commentary

Only partial estimate of the referendum results was available, but showing a strong and resounding lead for the "No". While a Yes vote would have allowed negotiations to resume on the basis of the late June proposals, a No...

Canadian recession likely to drive another rate cut

Jul 07, 2015 04:47 am UTC| Commentary

Canadian forecasters have consistently underestimated the impact of the sharp decline in oil prices on the Canadian economy. As recently as May, the consensus view was that real GDP growth wouldnt fall into negative...

Daily Economic Outlook: 7th July, 2015

Jul 07, 2015 04:20 am UTC| Commentary

Following yesterdays meeting between Angela Merkel and Francois Hollande on the implications of the Greek referendum result, an emergency meeting of Euro-area finance ministers is scheduled for noon today followed by a...

"No” Set Fate for Greece, many options still on the table

Jul 07, 2015 03:39 am UTC| Commentary

Greek citizens voted No on Sundays referendum to accept their creditors terms in exchange for financial aid, pension cuts and sales tax increases. As a result, media outlets immediately jumped to conclusions stating that...

US ISM non-manufacturing index increases, but details remain constructive

Jul 07, 2015 03:38 am UTC| Commentary

The slight gain in the US June headline reading was disappointing, offsetting only a fraction of the 2.1 point decline in the index during May. Even more disheartening is the fact that much of the weakness was a result of...