Recent Blogs




Tokyo CPI reports a lift in core prices, but annual inflation rate still negative

Chris Scicluna
  • Japan’s unemployment rate rises to 2.8% in April as restrictions weigh on employment.
  • Kiwi consumer confidence nudges lower in May; tax-based jobs indicator surpasses pre-pandemic record high in April.


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China’s industrial profits rise 57%Y/Y in April

Chris Scicluna
  • German consumer confidence up modestly.
  • Revised Q1 GDP data ahead in the US today, together with April durable goods orders, pending home sales and the Kansas Fed’s manufacturing survey.
  • Aussie capex rises 6.3%Q/Q in Q1, while forecast spending in ‘21/22 lifts 7.9% from forecast made three months earlier; but state of Victoria enters snap 7-day lockdown.


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Japan’s services PPI lifts to 7-month high

Chris Scicluna
  • Japan’s services PPI lifts to 7-month high of 1.0%Y/Y in April.
  • French business confidence leaps to 3-year high.
  • Australian construction activity lifts 2.4%Q/Q in Q1, led by housing.
  • RBNZ leaves all policy settings unchanged.

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Japan’s trimmed mean inflation rate nudges back to negative territory

Chris Scicluna
  • Japan’s trimmed mean inflation rate nudges back to negative territory in April.
  • UK public borrowing drops from a year ago, as expected.
  • German ifo survey to signal pickup in activity despite supply bottlenecks; German GDP data for Q1 little changed from prior estimates.
  • Australia’s exports eke out record high in April, while lower imports help to drive another big merchandise trade surplus.

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Japan’s department store sales up in April, thanks to base effects

Chris Scicluna
  • Quiet week ahead for Japanese data with Friday’s labour market and Tokyo CPI reading of greatest interest and only Thursday’s industrial profits data of note from China.
  • Euro area surveys likely to echo Friday’s upbeat flash PMIs; French inflation data to provide early insight regarding developments in May.
  • A quiet week ahead for UK data; BoE’s Bailey to speak at the Treasury Select Committee today.

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