The October update of the Global Manufacturing PMI sent a pessimistic signal about the industrial cycle. The headline index declined from 49.2 to 48.8, indicating a faster pace of deterioration. In particular, the Output,…
Tuesday’s China PMI release delivered a negative update on economic activity in October. The NBS’ Manufacturing PMI fell from 50.2 to 49.5 while the Non-manufacturing PMI declined from 51.7 to 50.6. Both measures fell…
The Fed’s latest triennial Survey of Consumer Finances (SCF), spanning the period from 2019 to 2022, was released on October 18th. It augments the Distributional Financial Accounts' (DFA) depiction of the distribution…
The US PCE report confirmed the signal from Thursday's preliminary GDP release that consumer spending was resilient in Q3. Although personal income growth unexpectedly slowed, both nominal and real spending growth…
As expected, the ECB kept policy on hold on Thursday. In a unanimous decision, it maintained the deposit rate at an all-time high of 4% following 10 consecutive increases. Ultimately, the tone of the communication was on the…
The US Q3 GDP release delivered a positive signal about the US economy. Economic growth accelerated from 2.1% q/q to 4.9% q/q on an annualized basis – beating expectations of 4.5%. A significant acceleration in consumption…
According to BCA Research's China Investment Strategy service, the property market has not cleared. Property market indicators suggest that China's real estate sector is still struggling to stabilize. Home sales and…
The Atlanta Fed's Home Ownership Affordability Monitor (HOAM) – which gauges a median-income households' ability to absorb annual costs related to owning a median-priced home – dropped to a fresh record low in…