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UK retail sales volumes maintain downtrend

22 April 2022

Chris Scicluna
, 
Emily Nicol
  • Japanese CPI inflation up in March to 3½-year high of 1.2%Y/Y as energy prices rise more than 20%Y/Y, the most in 4 decades.
  • European flash PMIs to be watched today for signs of a further loss of growth momentum at the start of Q2; Macron seemingly firmly on track for another term as French President as he goes head-to-head against Le Pen this weekend.

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UK inflation beats expectations; Japanese orders plunge

13 April 2022

Chris Scicluna
, 
Emily Nicol
  • UK CPI inflation accelerates ahead of expectations to 30-year high of 7.0%Y/Y  
  • Japanese core machine orders plunged in February to raise concerns about the investment outlook 
  • Chinese imports posted an eye-catching year-on-year decline in March as local lockdowns continue to take a toll, while export growth slowed too

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UK labour market remains tight but real regular wage growth negative

12 April 2022

Emily Nicol
  • UK labour market report suggested further tightness, but real regular wage growth firmly in negative territory and so retail spending fell back
  • Japanese producer price inflation came in above expectations in March, with upwards pressures from higher commodity prices and the weaker yen 

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UK GDP fell short of expectations in February

11 April 2022

Emily Nicol
  • UK GDP fell short of expectations in February as manufacturing bottlenecks weighed on output and the slowdown in vaccination activity partly offset a rebound in tourism-related activity
  • Despite ticking higher in March, Chinese consumer price inflation remained subdued at just 1.5%Y/Y; PPI inflation also fell back to an eleven-month low, raising expectations that the PBoC will provide further support to flagging domestic demand this week
  • US and UK CPI inflation figures for March set to jump to new 40-year and 30-year highs respectively

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UK labour supply and demand imbalances continue

08 April 2022

Emily Nicol
  • Japanese consumers the most downbeat since the start of 2021 amid higher price expectations; economy watchers were given a boost by the lifting of Covid-related restrictions with the headline sentiment index up to a three-month high
  • UK report on jobs continued to flag ongoing labour supply and demand imbalances which drove permanent starting salaries to a survey high.

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