Annual BEA data revisions resulted in a significant upward revision in GDP growth since Q2 2020, led by stronger consumption growth and more robust real disposable income growth than previously believed. Revisions also show…
We highlighted last week that while the Politburo policy announcements are unlikely to produce a meaningful business cycle recovery in China, they nevertheless administered a shot of adrenaline to investor sentiment. Chinese…
This week has not been short of developments on Chinese policy. After unleashing a monetary policy blitz, the authorities held an unscheduled Politburo meeting resulting in a pledge to take actions towards stabilizing the housing…
In a widely expected move, the Swiss National Bank (SNB) cut its policy rate for a third consecutive meeting on Thursday, from 1.25% to 1.00%. The move marked President Thomas Jordan’s final policy decision and his incoming…
According to BCA Research’s Commodity and Energy strategy service, even though US crude output will continue rising, a meaningful growth acceleration is unlikely. US producers adjust their output in response to market…
In a widely expected move, the Riksbank lowered its policy rate from 3.5% to 3.25% in September, marking its third cut this year. It embarked on its easing cycle in May, leading many other DM central banks, and has been…
Export dynamics from small open economies are a good bellwether for global growth conditions. Taiwan export orders accelerated from 4.8% y/y to a faster-than-anticipated 9.1% in August. The faster pace of growth was also broad…
Preliminary estimates suggest that activity continued to slow across DM economies in September. Manufacturing PMIs contracted at a faster pace in the US, Eurozone, Germany, France and Australia, and grew at a slower pace in…
The PBoC lowered the 14-day reverse repo rate by 10 bps on Monday, a move that follows a string of easing measures in late July when the central bank lowered the 7-day reverse repo rate, several maturities of the loan prime rate…
The European Central Bank (ECB) cut rates by 25 bps in September. It did not signal consecutive rate cuts and we highlighted that the short inter-meeting timeframe between September and October provides little scope for ongoing…