Limited options ahead of UK’s autumn budget given tight borrowing headroom and political pressures. Government likely wants to wait for accurate OBR estimates as well…
CDSI retreated to 48.7 in H2 mainly due to a sharp sentiment deterioration in Tier 3 cities. Developers in Tier 1 and 2 cities remain…
GDP growth remained solid at 5.2% y/y in Q2, while monthly data indicates signs of softening. Investment growth slowed sharply in June partly due to…
The world is shifting from a US-led liberal order to a multipolar order based on ‘might makes right’. Trump’s foreign policy rejects multilateralism in favour…
Semiconductors are the fourth most traded good globally and impact a host of consumer goods. Semiconductor supply chain is complex, with different economies dominating different…
A sliding scale of potential EU retaliation against US tariffs, depending on trade negotiation progress. Sectoral tariffs are likely to be the key determinant of…
Q1 GDP rose 0.8% q/q, slightly above our 0.7% forecast and stronger than the RBNZ’s 0.4%. Services and manufacturing drove the gains, while construction stabilised…
Retail sales growth accelerated to a 17-month high in May on front-loaded policy support. Better sentiment after US-China tariff truce supported steady export and IP…
US-EU deal is achievable; it may come after 9 July, but tariff reprieve is likely to be extended. EU likely to consider unilateral tariff cuts…
Manufacturing PMIs deteriorated at a faster rate in May versus April amid fading boost from front-loading. Coincident indicators were downbeat, but the US-China tariff truce…