Latin America Economics Update Mexican economy heading for a softer patch The Mexican economy slowed in the second quarter of this year, and growth is likely to ease further over the next 6-12 months as the external environment deteriorates. Even so, in relative terms at... 16th August 2012 · 1 min read
US Housing Market Data Response Housing Starts (Jul.) Housing starts fell slightly in July, but the forward-looking indicators rose once again. The upshot is that homebuilding will continue to support the wider economic recovery. 16th August 2012 · 1 min read
Canada Data Response Survey of Manufacturing (Jun.) The surprising 0.4% m/m decline in manufacturing sales in June was largely explained by ongoing volatility at petroleum refineries. For this same reason manufacturing sales volumes increased more... 16th August 2012 · 1 min read
Commodities Update Is the copper market in surplus? Almost all analysts believe that global copper demand is likely to exceed supply this year. We disagree. The official figures over-state Chinese copper consumption and when adjusted for this the... 16th August 2012 · 1 min read
Middle East & North Africa Economics Update The tide could be turning in Egypt’s favour Reports that Christine Lagarde will visit Egypt next week and that the country may seek more funds from the IMF than had been initially thought are positive developments. This follows the news that... 16th August 2012 · 1 min read
UK Data Response Retail Sales (Jul.) Not only did retail sales post a reasonable rise in July, but an upward revision to June’s figures added to other evidence suggesting that the preliminary estimate of GDP will be revised up next week... 16th August 2012 · 1 min read
Canada Economics Update Are household's turning cautious? Consumption growth has slowed in the first half of this year, a sign perhaps that households are becoming circumspect, in the face of a global economic downturn and the rising likelihood of a hard... 16th August 2012 · 1 min read
Latin America Economics Update Brazil takes a (small) step in the right direction Measures unveiled by the Brazilian government this afternoon are good news insofar as they will help tackle some of the supply side problems that are holding the economy back. But any impact will be... 15th August 2012 · 1 min read
UK Commercial Property Update Hotels should remain comparatively resilient According to IPD, hotels are one of the few segments where capital values are at or above their levels a year ago. The continued euro-zone crisis will remain a strong headwind for hotels, but we... 15th August 2012 · 1 min read
Middle East & North Africa Economics Update What do higher commodity prices mean for the Arab world? The rapid rise in global commodity prices over the past two months has raised fresh fears over food inflation in most Arab countries. But we think that the bigger concern could be the balance of... 15th August 2012 · 1 min read
US Data Response Consumer Prices & Industrial Production (Jul. 12) The further decline in CPI inflation to a 20-month low of 1.4% in July, from 1.7%, gives the Fed even more flexibility to act next month, if it feels the economy needs a little more stimulus to drive... 15th August 2012 · 1 min read
Latin America Economics Update FX intervention back on the agenda as industry struggles Barely three months have passed since a bout of global market jitters sent policymakers scrambling to protect their currencies, but in some countries the pendulum has already swung back towards... 15th August 2012 · 1 min read
Asia Economics Update Malaysia proving resilient to global slowdown Today’s GDP data show that Malaysia’s growth unexpectedly increased in Q2, with strong domestic demand more than offsetting export weakness. We are raising our 2012 growth forecast and no longer... 15th August 2012 · 1 min read
Europe Commercial Property Chart Pack Capital values hold firm in core markets In Q2, the euro-zone economy contracted as peripheral member states recorded sharp falls in GDP. Consistent with that, falls in all-property capital values remain centred on peripheral markets. But if... 15th August 2012 · 1 min read
Global Economics Update World GDP growth slows further in Q2 It looks as if global GDP growth slipped below 3% on an annualised basis in the second quarter of this year, its lowest level since early 2009. We expect no improvement in the second half of the year. 15th August 2012 · 1 min read
