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106 matches for " lockdown":
The lockdown in Britain that began two-and-a half weeks ago is starting to stem the number of new infections.
India's trade data for March highlight the immediate severity of the country's sudden nationwide lockdown.
The absence of an internationally agreed set of guidelines for easing lockdowns means that such decisions ultimately are political in nature.
Google's Covid-19 Community Mobility Reports have come raging into fashion in recent weeks, providing a glimpse of the damage done by lockdowns across the world.
As painful as it is, the decision to lock down economies to curb the spread of Covid-19 was easy. The next step, however, is considerably more difficult.
The seven-member board of Colombia's Central Bank, BanRep, voted on Friday to cut the main rate by 25bp to 2.25%, its lowest level ever, in order to ease the hit of the lockdown measures.
Korean exports hit a brick wall in April, unsurprisingly, as lockdowns across the non- China world dealt a body blow to demand.
Net trade in India likely contributed positively to headline GDP growth in the lockdown-plagued second quarter, but for all the wrong reasons.
The duration and future scope of the current lockdown is the main uncertainty that U.K economic forecasters have to grapple with at present.
Last week we reported on the V-shaped recovery in German retail sales--see here--as lockdowns ended mid- way through Q2.
The Q1 GDP figures, released on Wednesday, likely will show that the quarter-on-quarter decline in economic activity eclipsed the biggest decline in the 2008-to-09 recession--2.1% in Q4 2008--even though the U.K. went into lockdown towards the very end of the quarter.
Prime Minister Shinzo Abe last Tuesday finally declared a state of emergency for a month in parts of Japan, after weeks of dithering.
The Fed's statement yesterday was unsurprising, acknowledging a "sharp" decline in economic activity and a significant tightening of financial conditions, which has "impaired the flow of credit to U.S. households and businesses."
There are only two stories that matter for EZ investors at the moment, and neither of them is related to the economic data.
A sizeable drop in China's year-over-year GDP in Q1 is now the consensus view, after 6.0% growth in Q4.
The two main developments in the EZ economy while we were away seem contradictory.
Under normal circumstances, the boost to consumption from the astonishing collapse in oil prices would act as a substantial--though not complete--offset to the hit to capital spending in the shale business.
India's shocking PMIs for April leave little doubt that the second quarter will be bad enough to result in a full-year contraction in 2020 GDP, even if economic activity recovers strongly in the second half.
Britain is indisputably beyond the peak of the first wave of Covid-19 infections, though the descent in new cases, hospitalisations and deaths has been shallower than the ascent.
Economic activity remains under severe strain in the Andes.
Britain has continued to make steady progress towards containing the Covid-19 outbreak.
Data released on Friday in Mexico strengthened the case for further interest rate cuts in Q3. The monthly IGAE economic indicator for April, a proxy for GDP, plunged 19.9% year-over-year, a record drop since the series started in 1993, and down from -2.3% in March.
Emerging evidence suggests that the economy has passed the period of peak Covid-19 pain.
The BoJ until last week had been in wait-and-see mode over China's slowdown, but they finally folded with Thursday's decision.
Cheif Eurozone Economist Claus Vistesen discussing the Coronavirus response in Europe and the upcoming ECB meeting this week
February's retail sales figures highlighted that consumers' spending was flagging even before the Covid-19 outbreak.
Yesterday's national business confidence data for June provided further evidence that the EZ economy is rebounding.
Senior Asia Economist Miguel Chanco on Japan GDP, Q2
Chief U.K. Economist Samuel Tombs on U.K. Retail Sales in February
In one line: New U.S. cases per million will soon be at the levels which prompted easing lockdowns in Italy, Spain and Austria.
In one line: PBoC follows through on RRR cut, as post-lockdown bounce shows signs of disappointing
In one line: Ignore; the collection period was pre-Covid-19 lockdown.
In one line: Lockdowns hurt the economy, substantially!
In one line: A solid rebound as lockdowns were lifted.
In one line: The rebound continues, but will the NRW lockdown reverse this trend?
In one line: A solid increase in imports as lockdowns were lifted.
In one line: The lockdowns in March ruined Q1; domestic demand hit a brick wall.
In one line: Vigilance will be needed as lockdowns are eased; Covid-19 can spring back.
In one line: Core inflation rebounded as lockdowns eased; sustainable?
In one line: Still too early to take the core CPI at face value; construction collapsed during lockdown.
In one line: The biggest contraction for 40 years, even though Q1 contained just nine lockdown days.
Chinese manufacturing powers through Beijing's partial lockdown. The hot construction sector in China took a small breather in June. Unemployment in Japan is on track to breach the 3% mark for the first time since 2017. No immediate relief for Japanese industry from the withdrawal of the state of emergency. There is light at the end of the tunnel for the downturn in Korean industry.
In one line: Probably this year's peak, given the outlook for falling incomes and renewed lockdowns.
In one line: Still reflecting market conditions only immediately after the lockdown ended.
In one line: Benefiting from demand displaced by the lockdown.
In one line: Lockdowns and colossal job losses aren't great for the housing market.
April's RICS Residential Market survey confirmed that housing market activity collapsed to negligible levels during the lockdown, which prohibited property viewings, depleted the work forces of lenders and prompted many people to defer big financial decisions.
In one line: Europe outside Italy is in trouble; more days like yesterday will result in broad lockdowns.
Little Evidence that Italy's Lockdown is Working, Yet
Case Growth Slowing Across DMs as Lockdown Effects Work Through
In one line: Lockdowns ought to slow case growth by early April.
Still Waiting for Results from Europe's Lockdowns; U.S. Cases Soaring
In one line: U.S. case growth now well below the pace at the time Germany announced lockdown easing.
In one line: Easing lockdowns in the southern U.S. likely will trigger faster case growth.
Sharper energy and education deflation offset a jump in food prices in Tokyo. Lockdowns in Europe and the U.S. knock out Korean exports in April.
China's GDP report for the second quarter sprung an upside surprise, with the economy growing by 3.2% year-over-year--on paper--marking a sharp reversal from the 6.8% plunge in the first quarter, due to the country's nationwide lockdown.
All the key measures of retail sales have returned to the trends in place before the Covid pandemic, thanks to the enhanced unemployment benefits paid to people who lost their jobs during lockdowns, and the one-time stimulus payments under the CARES Act.
Data released yesterday from Brazil support our view that the economic recovery continues, but progress is slowing, following the initial post-lockdown rebound.
China's post-lockdown recovery broadly has surprised this quarter, particularly in the industrial sector.
The EZ trade surplus in goods all but evaporated during lockdown.
This week's EZ construction report--data released on Wednesday at 11.00 CET--will close the book on the second quarter in the euro area economy, providing further evidence that private sector activity rebounded as lockdowns were lifted.
Manufacturers in China continued to trudge along in May, with their post-lockdown recovery looking increasingly fragile.
Japan's Tankan survey for Q2 was unsurprisingly grim, given the devastation caused by the near- global lockdown in the first half of the quarter, and the nationwide state of emergency that enveloped April and May.
No post-lockdown bounce for private services in China
Friday's second Q1 GDP estimate confirmed that lockdowns to halt the spread of Covid-19 hurt the EZ economy in Q1. Real GDP plunged by 3.8% quarter-on- quarter, following a 0.1% rise in Q4, in line with the first estimate.
• U.S. - Collapsing confidence and mass job losses continue, but not forever. • U.K. - The lockdown is starting to work, but the next steps aren't clear. • ASIA - Positive signs as Chinese money supply and loan growth jump. • LATAM - The real hit from the virus is yet to come.
GDP data for July, released on Friday, showed that the economic recovery following the Covid-19 lockdown still does not look V-shaped, even though virtually all restrictions on economic activity had been lifted.
Today's tentative reopening of schools in England marks the biggest step forward for the economy since the lockdown was imposed on March 23.
• U.S. - Job losses set to breach 10M in just a few weeks. • EUROZONE - Who will pay for the Covid-19 stimulus in the EZ? • U.K. - The private sector's balance sheet is in good shape to take on the lockdown • ASIA - Covid-19 is worse for China than the financial crisis • LATAM - The data supported rate cuts in LatAm even before coronavirus
Recovery To Be Protracted, Despite Policymakers' Efforts...Consumers Will Be Cautious Long After The Lockdown Ends
China's Unsustainable V-Shaped Recovery...Japan's Q1 GDP Contraction Is Just A Taster...Korea's Grim April Exports Is A Warning Shot...India's Lockdown Will Kill Q2, Despite Relaxation
Friday's manufacturing and trade data added to the evidence of a solid rebound in the EZ economy at the end of Q2, as lockdowns were lifted.
Yesterday's trade data in Germany added to the evidence of a relatively slow rebound as the domestic and European economies emerged from lockdown.
China's economic recovery over the next twelve months remains secure, barring another major outbreak of Covid-19 domestically, or another synchronised lockdown globally.
The housing market has risen like Lazarus since the end of the lockdown.
All major EZ governments are now in the process of lifting lockdowns, but investors should expect less a grand opening, more of a careful tip-toeing.
The re-opening of businesses in Georgia, South Carolina and Tennessee, starting this week and expanding next week, comes as the rate of increase of confirmed Covid-19 infections in these states remains much faster than in European countries where lockdowns have started to ease.
China's two-tier post-lockdown economic revival continued in April. Industrial production beat expectations easily, rising by 3.9% year-over-year, after slipping by 1.1% in March.
In one line: Powering through Beijing's partial lockdown
China was in lockdown ahead of the 70th Anniversary last week, as is typical around important political events.
• U.S. - U.S. states will try to emulate Sweden's Covid-19 strategy; will it work? • EUROZONE - Lockdowns are easy, but what are the criteria for re-opening? • U.K. - Our U.K. economics team is on paternity leave • ASIA - China's GDP is set to contract through 2020 as a whole • LATAM - LatAm central banks have cover to ease further
Demand in German manufacturing rebounded powerfully at the end of the second quarter, accelerating from an initially modest rebound when lockdowns were lifted.
In one line: Lockdowns in Europe and the U.S. knock out exports
In one line: Post-lockdown momentum intact, just
Horrendous Chinese profits plummet should spur the authorities into further stimulus. No signs yet of persistent discounting in Tokyo, but a lockdown would change things overnight.
The Lockdown Is Working; It Will Be Eased In June...But GDP Won't Reach Pre-Virus Levels Until Late 2021
In one line: PBoC follows through on RRR cut, as post-lockdown bounce shows signs of disappointing
The surge in the broad money supply in March, as the U.K.'s lockdown began, suggests that businesses are in relatively good shape to survive a multi-month period of greatly depressed demand.
The changing face of India's post-lockdown economic recovery indicates that the initial bounce since the June reopening could soon stall.
Economic activity in Chile in the first half of the year is now a write-off, due to Covid-19. The country is in a deep recession, and the impact of lockdowns on labour markets and businesses will cause long-lasting economic damage, which will hold back the recovery.
Yesterday's final EZ manufacturing PMIs for July extended the run of gains since the nadir during lockdown.
The sharp decline in Mexico's leading indicators highlights the dramatic scale of the economic and financial hit from the coronavirus. High frequency data and the PMIs are the first numbers to capture the lockdown, and they signal that the services activity-- the bulk of Mexico's GDP--dropped sharply.
Some normality has returned in India, more than three weeks from the end of the nationwide lockdown and the start of "Unlock 1.0" on June 1.
Yesterday's detailed Q2 GDP report in Germany confirmed that economic output nosedived during lockdown, but also showed that the economy was resilient compared to the rest of the EZ.
Looking beyond the potential hit from the lockdown in North Rhine-Westphalia, German consumer sentiment is improving steadily.
This week's economic reports have provided clear, and uplifting, evidence that EZ consumers came out swinging as lockdowns were lifted.
The early damage in India from Covid-19 and the nationwide lockdown likely was significant enough to hammer the GDP report for the first quarter, due tomorrow.
Tracking the consumer services sector has become more important since Covid-19, as it was flattened by the lockdown in Q2 and it might prove to be an incubator of new infections, if it becomes too busy.
India's government imposed a three-week nationwide lockdown on March 25 to combat the increasingly rapid spread of Covid-19.
Chief U.K. Economist on U.K. Unemployment Q2
Chief U.K. Economist Samuel Tombs on U.K. Q2 GDP
Chief U.S. Economist Ian Shepherdson on today's U.S. Unemployment data
Chief Eurozone Economist Claus Vistesen on the German Labour Market
Chief U.K. Economist Samuel Tombs on U.K. GDP
Chief U.K. Economist Samuel Tombs on U.K. Economic Sentiment
Chief Eurozone Economist Claus Vistesen on Consumer Spending
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