UK Commercial Property Chart Pack Yield-driven declines in capital values gather pace All-property capital values fell by 0.5% in May, the seventh consecutive monthly fall. That raised the cumulative decline since October last year to 1.6%. With rents flat, the declines in capital... 22nd June 2012 · 1 min read
China Activity Monitor Property holding economy back The Capital Economics China Activity Proxy (CAP) points to a further decline in GDP growth this quarter, with construction and service sector activity particularly weak. 22nd June 2012 · 1 min read
Middle East & North Africa Chart Pack Oil prices in freefall Fears for the health of the global economy have sent Brent crude prices down by more than $30 per barrel in the past month, raising fresh concerns over the sustainability of the recent fiscal packages... 22nd June 2012 · 1 min read
Capital Daily Treasury market implications of a prolonged "Operation Twist" 22nd June 2012 · 1 min read
US Economics Focus Drop back in core inflation likely to be gradual We now expect the annual core CPI inflation rate to decline only modestly this year, from 2.3% in May to slightly below 2.0% by year-end, before falling more markedly next year to 1.5% by end 2013. 21st June 2012 · 1 min read
Canada Economics Update Tighter mortgage rules likely to curb housing activity The finance department's surprise announcement earlier today to tighten the screw further on mortgage insurance rules starting in early July is prudent action in our view, given the elevated risks... 21st June 2012 · 1 min read
Latin America Economics Update Colombian economy slumped in Q1 The Colombian economy seems to have hit a brick wall in Q1. While it is better placed than most in the region to withstand the turbulence from the euro-zone crisis, we are revising down our GDP growth... 21st June 2012 · 1 min read
US Housing Market Data Response Existing Home Sales (May) The slight fall in existing home sales in May suggests that, with economic activity indicators weakening, the recovery in housing market demand has lost a little bit of momentum. Nevertheless, if we... 21st June 2012 · 1 min read
Asia Economics Update Taiwan rate outlook hinges on exports Taiwan’s central bank (CBC) kept its policy rate at 1.875% today, as was widely expected. The economy’s dependence on export-led growth means that the global outlook will remain the key consideration... 21st June 2012 · 1 min read
Canada Data Response Retail Sales (Apr.) April's disappointing 0.8% m/m drop in retail sales volumes would be disconcerting for monthly GDP growth if it were not for the surprisingly strong growth in wholesale trade data released earlier... 21st June 2012 · 1 min read
Emerging Europe Economics Update Turkish MPC eases slightly, but rates to remain high The Turkish MPC shifted slightly towards easing mode at today’s meeting. Nonetheless, with the current account deficit still large and a sharp rise in short-term external debt, we expect monetary... 21st June 2012 · 1 min read
UK Housing Market Update Higher value mortgage approvals - a sign of tighter credit conditions? Since the turn of the year, the average value of new mortgages being approved has jumped by 10%. Unfortunately, that rise is more likely to be evidence that credit conditions are deteriorating than a... 21st June 2012 · 1 min read
Latin America Economics Update Policymakers have space to support growth The authorities in most Latin American countries have space to loosen policy in the event of a sharp slowdown in global economic growth. Indeed, we expect to see policy easing in most economies over... 21st June 2012 · 1 min read
Europe Economics Update Will Italy need a bail-out too? Italy may have recently avoided the spotlight thanks to developments in Greece and Spain, but its dreadful debt dynamics mean that it remains a ticking time-bomb for the euro-zone. 21st June 2012 · 1 min read
Europe Commercial Property Update Are shopping centre development pipelines in CEE too large? A low stock of shopping centre floorspace and relatively fast trend rates of consumer spending growth might suggest that the large shopping centre development pipelines in CEE could be absorbed... 21st June 2012 · 1 min read
Emerging Europe Economics Update Hungary and the IMF revisited With attention fixed on every twist and turn in Hungary’s talks with the IMF, it’s easy to forget why the government first raised the prospect of assistance nine months ago. In short, while the fiscal... 21st June 2012 · 1 min read
