UK Data Response Halifax House Prices (June) The 1%m/m rise in the Halifax index in June does little to alter the underlying trend which shows that house prices are grinding lower, albeit only slowly. 5th July 2012 · 1 min read
Canada Chart Pack Lower oil prices threaten investment prospects The faltering global economy has driven commodity prices lower, with Canadian oil prices down sharply from levels earlier this year. Although oil prices have risen somewhat over the past week, we... 5th July 2012 · 1 min read
Europe Economics Update French Budget scotches growth lobby François Hollande’s supplementary budget is in stark contrast to his vow to favour growth over austerity. With market pressures and a weakening economic outlook forcing even France to pursue budget... 4th July 2012 · 1 min read
Global Markets Update Sluggish corporate earnings to weigh on the US stock market The Q2 earnings season kicks off in the US next week. The story that is likely to emerge is one of slower profit growth. And looking further ahead, the news is likely to get worse. This is a key... 4th July 2012 · 1 min read
Latin America Economics Update Brazil’s looming credit crunch The current pace of credit growth in Brazil remains unsustainable – and the longer it continues, the bigger the risk of a messy ending further down the line. 4th July 2012 · 1 min read
UK Economics Chart Pack Inflation outlook improves The near-term inflation outlook has improved significantly in recent weeks. Inflation has fallen below 3% for the first time since the end of 2009. It will come under further downward pressure from... 4th July 2012 · 1 min read
Europe Commercial Property Update Is Poland a “core” property market? One of the key messages from JLL’s 2012 Global Real Estate Transparency Index was that CEE markets – especially Poland – have become more transparent relative to Western Europe. But we think that... 4th July 2012 · 1 min read
UK Data Response CIPS/Markit Report on Services (Jun) June’s CIPS/Markit report on services showed that activity in the biggest part of the economy is weakening, implying that the MPC is almost certain to decide on more quantitative easing (QE) at its... 4th July 2012 · 1 min read
UK Economics Focus Will the euro-zone crisis undermine London property values? Prices in London’s prime property markets, especially residential, look very vulnerable to a major financial market shock, or anything that might undermine investors’ desire to use London property as... 4th July 2012 · 1 min read
UK Data Response Housing Equity Withdrawal (Q1) The low level of housing equity withdrawal is an indication of how the subdued housing market may be limiting households’ ability and willingness to spend. 4th July 2012 · 1 min read
Latin America Economics Update Uruguay: persistent inflation leaves policymakers in a bind Structural rigidities mean that inflation will be slower to fall back in Uruguay than in the rest of the region this year. As a consequence, policymakers have less space to support growth via monetary... 4th July 2012 · 1 min read
China Economics Update Inflation Monitor (Jun.) Consumer price inflation tumbled to near 2% y/y in June, we believe. With the government pushing up electricity prices for heavy residential users starting this week, the headline rate may not get... 4th July 2012 · 1 min read
Commodities Update Spike in price of Brent unlikely to be sustained The price of Brent crude has jumped back above $100 per barrel (pb) today, but we doubt this rebound will last for long. In particular, Iran’s threats to disrupt the flow of oil through the Strait of... 4th July 2012 · 1 min read
UK Economics Update Household Borrowing Monitor (May) Unsecured consumer credit growth has picked up, although we think that this could be an indication of consumer weakness rather than strength. There are still few signs of a more widespread recovery in... 3rd July 2012 · 1 min read
