- In one line: April was a bad month for consumers, but don’t write them off.
Rob Wood (Chief UK Economist)UK
A headscratcher, but an unreliable signal for the broader economy.
Oliver Allen (Senior US Economist)US
Real incomes, spending and core prices increases are all slowing.
Oliver Allen (Senior US Economist)US
- In one line: Struggling on a sequential basis, despite the solid headline numbers.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Exports—alone—steal the show in Q1, papering over a continued slowdown in domestic demand.
Miguel Chanco (Chief EM Asia Economist)Emerging Asia
In one line: Services too hot to handle, but the trend isn’t 4%.
Claus Vistesen (Chief Eurozone Economist)Global
In one line: Services too hot to handle, but the trend isn’t 4%.
Claus Vistesen (Chief Eurozone Economist)Eurozone
In one line: Domestic demand, including inventories, rose; net exports plunged.
Claus Vistesen (Chief Eurozone Economist)Eurozone
In one line: The HICP comes in hot; April spending dented by Easter seasonals.
Claus Vistesen (Chief Eurozone Economist)Eurozone
- In one line: House prices are resisting the mortgage rate rise.
Rob Wood (Chief UK Economist)UK
In one line: Disappointing, but don’t write off Q2 consumption just yet.
Claus Vistesen (Chief Eurozone Economist)Eurozone
A housing market recovery is still some way off.
Oliver Allen (Senior US Economist)US
GDP details better than the headline, but growth is slowing.
Oliver Allen (Senior US Economist)US
In one line: The EZ labour market is in a good spot.
Claus Vistesen (Chief Eurozone Economist)Eurozone
- The National Living Wage hike will push private-sector regular pay to a solid 0.8% month-to-month April rise.
- But survey indicators continue to signal gradually slowing wage growth, as recruitment difficulties ease.
- Average weekly earnings growth should slow decisively in H2 2024 as the NLW distortions fade.
Rob Wood (Chief UK Economist)UK
- Inflation in the Eurozone likely rose a touch in May, to 2.5%, in line with the consensus.
- The EZ labour market is in rude health but poses no threat to the slowdown in wages and inflation, yet.
- The Swiss economy performed better than initially estimated in Q1, boosted by services.
Claus Vistesen (Chief Eurozone Economist)Eurozone
In one line: Jump in services inflation stands out like a sore thumb.
Claus Vistesen (Chief Eurozone Economist)Eurozone
In one line: German core and headline inflation rebounded in May.
Claus Vistesen (Chief Eurozone Economist)Eurozone
In one line: Looking up in Germany, but stalling in France.
Claus Vistesen (Chief Eurozone Economist)Eurozone