US Rapid Response US Durable Goods Orders (Nov 2025) A jump in Boeing orders was the main driver of higher durable goods orders in November, although core (ex. transport) orders still performed decently. Most importantly, another rise in underlying... 26th January 2026 · 2 mins read
US Rapid Response US Personal Income & Spending (Oct. & Nov. 2025) The solid 0.3% m/m gains in real consumption in both October and November confirm that the government shutdown had very little impact on economic activity. Those gains slightly outpaced our prior... 22nd January 2026 · 3 mins read
Global Economics Rapid Response Greenland tariffs: the political consequences would trump the economic It remains unclear whether President Trump’s threat to impose tariffs on eight European countries unless a deal is reached to acquire Greenland will ever materialise. But if it does, the economic... 18th January 2026 · 3 mins read
US Rapid Response US Industrial Production (Dec 2025) While December’s industrial production figures were generally more positive than previous months’, the key takeaway when looking back on last year is that tariffs have not triggered any manufacturing... 16th January 2026 · 2 mins read
US Rapid Response US Retail Sales (Nov. 2025) The broad-based gains in headline, core (ex-autos), and control group retail sales in November indicate that household spending remained resilient early in the holiday season, with the government... 14th January 2026 · 2 mins read
US Rapid Response US Producer Prices (Oct & Nov 2025) The delayed October and November data revealed that PPI inflation was higher than most expected toward the end of last year, but that was largely due to revisions to the data for September, which have... 14th January 2026 · 2 mins read
US Rapid Response US Consumer Prices (Dec 2025) The weaker-than-expected 0.2% m/m increase in the core CPI in December suggested that there has been some genuine moderation in underlying inflation pressures in recent months. Nevertheless, our... 13th January 2026 · 2 mins read
US Rapid Response US Consumer Sentiment (Jan 2026) Consumer sentiment rose to a four-month high, with an improvement to the current conditions index hinting to a labour market that remains weak, but is improving. Admittedly the level of consumer... 9th January 2026 · 1 min read
US Rapid Response US Employment Report (Dec. 2025) The fall in the unemployment rate in December leaves the labour market looking in better health than many feared, suggesting that the Fed will be in no rush to resume interest rate cuts. 9th January 2026 · 3 mins read
US Rapid Response US International Trade (Oct 2025) Swings in trade of gold and pharmaceuticals were behind the plunge in the trade deficit to a two-decade low in October, though higher computer imports suggest there are genuine signs of strength... 8th January 2026 · 2 mins read
US Rapid Response US productivity (Q3) The latest surge in US productivity suggests the AI boom is providing lasting benefits to the US economy that go well beyond just the value of investment in data centres. Non-farm business... 8th January 2026 · 2 mins read
US Rapid Response US ISM Services Index (Dec 2025) The continued fall in the ISM Services prices paid index is consistent with “supercore” PCE inflation remaining elevated over the next few months, but heading back down in the right direction... 7th January 2026 · 2 mins read
US Rapid Response US ISM Manufacturing Index (Dec. 2025) The modest decline in the ISM Manufacturing Index in December confirms that the sector was struggling for momentum around the turn of the year, but we doubt that this will be enough to prevent overall... 5th January 2026 · 2 mins read
US Rapid Response US Fed Minutes (Dec 9-10) The minutes of the FOMC’s December meeting, when it voted to lower the fed funds target range by 25bp to between 3.50% and 3.75%, are somewhat outdated given the slew of delayed data releases since... 30th December 2025 · 3 mins read
US Rapid Response US Industrial Production (Oct. & Nov. 2025) The rise in industrial production in November looks less impressive with a peek at the breakdown, which shows manufacturing output flat last month, and considering the move simply reverses a fall in... 23rd December 2025 · 2 mins read
US Rapid Response US GDP (Q3 Initial) The 4.3% annualised gain in third-quarter GDP was well above the consensus estimate at 3.3%, but broadly in line with our own 4.5% estimate. A lot of other forecasters missed that this is essentially... 23rd December 2025 · 2 mins read
