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German factory orders beat expectations

04 February 2022

Chris Scicluna
  • German factory orders comfortably beat expectations with second successive month of strong growth in December 
  • Despite a second successive firm increase in car output, French industrial production edged down 0.2%M/M in December to be down 0.2%Q/Q over Q4 as a whole.
  • Despite a big rise in sales of electric vehicles, UK new car registrations remained subdued at the start of the year.
  • All eyes today will be on the US labour market report, which is expected to show a slowdown in payroll growth at the start of the year.

 

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BoE to hike Bank Rate for the second successive meeting

03 February 2022

Chris Scicluna
, 
Emily Nicol
  • Dovish BoJ Deputy Governor Wakatabe seeks to counter speculation that global inflation surge might lead to a change in monetary policy.
  • Japan’s services PMI revised up from the flash estimate.
  • ECB to leave policy unchanged at Governing Council meeting; BoE MPC meeting to hike Bank Rate for the second successive meeting.
  • Euro area producer price inflation expected to leap again to new high above.

 

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Japan's manufacturing PMI signals strongest output growth since 2014

01 February 2022

Chris Scicluna
, 
Emily Nicol
  • Despite a leap in Japanese employment in December, it remains well down on the pre-pandemic level; manufacturing conditions also improved at the start of the year.
  • Preliminary French inflation for January exceeded expectations due not least to higher fuel prices.
  • German retail sales plunge in December on intensified coronavirus wave.
  • UK house price inflation accelerates in the New Year.

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Japan's retail sales and IP weaken in December

31 January 2022

Chris Scicluna
, 
Emily Nicol
  • The weekend saw Italy's Sergio Mattarella re-elected as national President for a second term, allowing Mario Draghi to remain as Prime Minister and in control of the government’s reform agenda.
  • Euro area Q4 GDP figures today will confirm a sharp slowdown in growth at the end of last year, but will also see output return back to its pre-pandemic level.
  • ECB and BoE monetary policy meetings of particular interest this week. UK's Bank Rate expected to be hiked for the second successive meeting to 0.5%.

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French GDP rose above the pre-pandemic level

28 January 2022

Chris Scicluna
, 
Emily Nicol
  • Tokyo inflation eased at the start of the year as base effects from the government’s travel subsidies fell out of the calculation and underlying inflation weakened.
  • French GDP rose a respectable 0.7%Q/Q in Q4 despite ongoing supply bottlenecks and the new wave of coronavirus.

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