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Japanese household spending steady in December

08 February 2022

Chris Scicluna
, 
Emily Nicol
  • While Japan’s spending held steady in December, economy watchers were notably more downbeat at the start of the year; moreover, labour cash earnings fell on an annual basis for the first time in ten months.
  • A mixed batch of UK spending data suggests that retail sales failed to fully reverse December’s steep drop at the start of the year.

 

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Japanese consumption steady in December

07 February 2022

Chris Scicluna
, 
Emily Nicol
  • German industrial production declines slightly in December as construction activity falls sharply.
  • UK Q4 GDP data (Friday) to confirm growth close to 1.0%Q/Q.
  • The week’s US economic data highlight will be the January CPI report on Wednesday.

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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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