Categories
Macro Flash

Macro Flash: China CPI and PPI for March 2021

China’s Consumer prices in March 2021 increased by 0.4% year-on-year and decreased by 0.5% month-on-month. China’s Ex-factory prices of industrial producers in March 2021 increased by 4.4% year-on-year and 1.6% month-on-month.

Categories
Macro Flash

Macro Flash: US Jobs Report (March 2021)

According to the report released on Friday, April 2 by the U.S. Bureau of Labor Statistics (BLS), total nonfarm payroll employment rose by 916,000 in March, and the unemployment rate edged down to 6.0 percent. As per the BLS, “These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic.” Job growth was widespread across the different sectors in March, with notable gains in leisure and hospitality, public and private education, and construction.

Categories
China Macro Flash

China: Economic statistics (Jan.-Feb. 2021)

You have reached the maximum number of Premium articles available for unregistered users. If you already have a client account, […]

Categories
Japan Macro Flash

Japan: Consumer confidence Survey (February 2021)

You have reached the maximum number of Premium articles available for unregistered users. If you already have a client account, […]

Categories
Macro Flash

US Employment situation: February 2021 (BEA)

You have reached the maximum number of Premium articles available for unregistered users. If you already have a client account, […]

Categories
Macro Flash

China: Financial Statistics Report for February 2021 (PBC)

You have reached the maximum number of Premium articles available for unregistered users. If you already have a client account, […]

Categories
Macro Flash

Macro Flash: US Monthly Jobs Report – December 2020

You have reached the maximum number of Premium articles available for unregistered users. If you already have a client account, […]

Categories
China ENG Macro Flash

Macro Flash: Surveys show China’s recovery is strong but uneven

The released Official China NBS/CFLP PMI and the Caixin/IHS Markit PMI for August showed both that the Chinese economy was undergoing a robust growth recovery in August. However, the Official PMI shows that the economic recovery is uneven and is driven first and foremost by large manufacturing enterprises and by the construction sector., which benefited the most from the fiscal and monetary stimulus measures. Export orders continued their recovery initiated in June but the major driver of growth was domestic demand. Employment remained muted as companies still face uncertainties related to the COVI19 pandemic and its impact on economies across the world. Expectations remain anchored at a high level, although they edged lower compared to July and June.

Categories
ENG Eurozone Macro Flash

Macro Flash: Eurozone recovery slowing down in August

The pace of recovery of the Eurozone economy following its sharp contraction in 2Q 2020 slowed down significantly in August. The Eurozone PMI Composite Index came up at 51.9, still largely in positive territory but significantly down from the 54.9 level reached in July. The Manufacturing Index remained on a healthy recovery trajectory thanks to the strong rebound observed in Germany (cf. our Macro Flash on German Manufacturing PMI) and despite the stagnation observed in France. However, the Services headline index came almost flat at 50.5, due to a marked growth slowdown in France and a return to contraction in Italy and Spain. Regardless of the softness observed in the Services sector, Confidence about the future continued to peak up reaching its highest level in two years. This confidence will need to be supported by additional monetary and fiscal stimulus, else it could fade out. Indeed, Eurozone inflation moved into negative territory for the first since 2016 and unemployment continued to grow across the Eurozone which bodes ill for domestic demand, especially given the record savings growth due to precautionary motives.

Categories
ENG Macro Flash

Macro Flash: A fork-shaped recovery for the US Job market

The BLS Employment Situation Report for August showed that the US job market continued to recover from the impact of the COVID19 pandemic with the unemployment rate for August, as measured in the household survey, declining by 1.8 percentage points to reach 8.4%, which is still above by 4.9 percentage points over its pre-crisis level but much better than the Consensus estimate of 9.8%. The number of unemployed persons fell by 2.8 million to 13.6 million. For its part, the establishment survey showed that 1.4 million non farm payrolls were added during the month bringing the number of total employed persons in the United States to 147.4 million of which 122.4 million were full time employed and 25.0 million were part time employed. However out of these 1.4 million additional recorded payrolls, employment in government increased by 344,000 in August, accounting for one quarter of the monthly gain and reflecting the hiring of 238,000 temporary 2020 Census workers. The US labor market is going through a fork-shaped recovery with two very distinct legs as we explain in this analysis.