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Zero-Covid strategy whacks Chinese economic activity

Chris Scicluna
Emily Nicol
  • Japan’s PPI inflation jumps to a more-than 4-decade high, as the weaker yen exacerbated imported price pressures
  • Japanese CPI inflation set to jump to 3-decade high
  • Bailey to be grilled in Parliament 

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French EU-harmonised CPI rises, while Spanish HICP bucks the trend

Emily Nicol
Chris Scicluna
  • Euro area IP data to confirm weak March but positive growth over Q1 as a whole
  • US focus today on consumer confidence and import prices

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UK GDP up slightly in Q1, but down in March

Emily Nicol
Chris Scicluna
  • UK business investment maintains post-Brexit weakness, trade deficit rises to record high as exports drop again
  • RICS survey points to strong UK house price growth as supply-demand imbalance persists
  • Supply-demand imbalance in UK labour markets continues to add upwards pressure on starting salaries
  • Japanese economy watchers see further improvement in April and point to a return to positive GDP growth in Q2

 

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BoJ consumption activity improved in March

Chris Scicluna
Emily Nicol
  • Chinese headline inflation boosted by food and energy, core CPI and PPI inflation eased
  • BoF survey points to only modest French GDP growth in Q2
  • No surprises from final German April inflation data

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Japanese household spending leaps in March as restrictions lift

Chris Scicluna
Emily Nicol
  • UK retail survey suggested steepest drop in like-for-like sales since March 2020
  • German ZEW to flag big investor concerns about the outlook

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