Provider: 4X Global Research (4XGR)
Chinese GDP growth (seasonally-adjusted) was 11.5% qoq in Q2. This was stronger than consensus forecast (+9.6% qoq) and more than reversed Q1 contraction of 9.8% qoq. This record-high growth reflects both a post-lockdown bounce in economic activity and of course extremely “favourable” base effects.… Read the rest
The volume of retail sales – the value of the sale of goods adjusted for domestic inflation – rose a faster-than-expected 14% mom in June. In level terms UK retail sales were only 1% below the average recorded in the 12 months to February 2020.… Read the rest
The United States’ post-war record GDP contraction in Q2 of 9.5% qoq and the Dollar’s recent depreciation have been making headline news but some perspective is required.
The US GDP contracted about 10.6% in H1 2020, far more than in China (+0.6%) and South Korea (-4.6%).… Read the rest
Price action in major currencies was again subdued last week. With few tier-one macro data releases for markets to trade off the focus was on the reaction function of governments and central banks to covid-19 related developments.… Read the rest
Part One of this Five-part series of Insights into the UK economy and financial markets examines the devastating impact which the national lockdown – introduced on 23rd March – has had on domestic economic activity and the implications for the UK (and other major economies) going forward.… Read the rest