The Eurozone economy returned to expansion in the second quarter with real GDP rising by 0.3% q/q – beating expectations of 0.2% q/q. This follows an upwardly revised 0.0% in Q1 and a 0.1% contraction in Q4 2022. In…
According to BCA Research’s Global Investment Strategy service, it is too early to conclude that the Fed can stop raising rates. Consumption and real income growth are highly correlated. If inflation continues to fall,…
The latest round of earnings calls from the systemically important banks suggested that the expansion is still intact. Households are still flush and still spending and consumer and business delinquencies remain remarkably low.
US economic data released on Friday continued the string of good news about the US economy. On the inflation front, core PCE inflation – the Fed’s preferred gauge of underlying price pressures – softened to 0…
We are now midway through the Q2 2023 earnings season: 254 of the companies in the S&P 500 have reported. It’s therefore worthwhile to stand back and observe some of the emerging trends. According to Refinitiv IBES,…
South Korean exports in the first 20 days of July corroborate the signal from Taiwanese export orders that Asian trade conditions remain weak. The former declined by -15.3% y/y, undoing the optimism following a 5.3% y/y increase…
Euro Area consumer confidence has been steadily recovering since it bottomed in September. Most recently, the -15.1 flash estimate for July surprised to the upside and marks its highest reading since February 2022 – ahead…
According to BCA Research’s Geopolitical Strategy and European Investment Strategy services, Spain’s economy is outperforming that of the Eurozone thanks to lower inflation and exploding tourism activity. These trends…
US retail sales delivered a mixed signal on Tuesday. On the one hand, overall retail sales growth decelerated from 0.5% m/m to 0.2% m/m in June– disappointing expectations of 0.5% m/m. Spending on retail sales excluding…
Results of the NAHB survey shows US homebuilder sentiment inched further above 50 to a 13-month high of 56 in July. Its ongoing rise above 50 indicates that net sentiment is becoming increasingly favorable. That said,…