UK public finances continue on their improving path

Sep 21, 2015 00:54 am UTC| Commentary Economy

The UK budget deficit is clearly improving compared to the previous fiscal year. In the four months to July, spending was flat compared to the same period a year earlier whereas revenues were up 4.4%. As always, there are...

US industrial output remains sluggish, while motor vehicles distort headline

Sep 16, 2015 04:05 am UTC| Commentary Economy

US total industrial production fell 0.4% m/m in August. Manufacturing output fell sharply by 0.5% as the seasonal boost to July motor vehicle output was unwound. Motor vehicle and parts production fell 6.4% m/m in August...

Recovery is still missing for China

Sep 14, 2015 01:47 am UTC| Commentary Economy

Fixed asset investment (FAI) surprisingly weakened to 9.2% yoy in August, the slowest in a decade. Manufacturing investment growth only ticked up fractionally, despite a positive base effect. Mining investment recorded a...

Moving past zero inflation in UK, but still a long way from 2%

Sep 13, 2015 21:05 pm UTC| Commentary Economy

GBP rallied strongly against the USD last week despite a set of BoE MPC Minutes that were, at the margin, more dovish. While the MPC showed optimism on the domestic outlook, they were concerned about recent global...

Low commodity prices reflected in Australia’s economic performance and currency

Sep 13, 2015 08:03 am UTC| Commentary Economy

Australias economic performance remains relatively soft, partially reflecting low iron ore prices and weaker import demand from China. Real GDP grew by 0.2% q/q (2.0% y/y) in the second quarter of 2015 following a solid...

Wider output gap set to curb FX pressures in Latin America

Sep 12, 2015 09:42 am UTC| Commentary Economy

LatAm inflation is marked by divergent trends at present: upward in the small, open economies and downward in the larger countries with disappointing growth. In Brazil and Mexico, upward inflation pressures from weaker...

US federal government posts budget deficit of $64.4bn in August

Sep 12, 2015 09:06 am UTC| Commentary Economy

The US federal government reported a monthly deficit of $64.4bn in August, modestly wider than CBO projections ($62bn) and $64bn narrower than in August 2014. A large portion of this decline, however, was due to the time...