Macro Analysis

A full set of UK economic accounts for 2012 Q4 was published last week. Private consumption is now estimated to have grown by 0.3% in 2012 Q4, the fifth consecutive quarterly rise. Private consumption growth has averaged 0.4% over the past five quarters, stronger than its average of 0.2% since the economy emerged from its [...]

This research note is provided by Fathom Consulting. All of the charts below and many many more, covering a range of topics and countries on both the macroeconomy and financial markets are available in the Chartbook to Datastream users at www.datastream.com. Alternatively you can access Fathom’s Chartbook at www.fathom-consulting.com. The latest rupture in the euro [...]

Housing starts and building permits both rose in February as the housing market recovery remained on track. The US real estate market was at the epicentre of the crisis five years ago as steep house price falls delivered a substantial blow to bank balance sheets and households’ net worth. However, buoyed by a rapid correction [...]

This research note is provided by Fathom Consulting. All of the charts below and many many more, covering a range of topics and countries on both the macroeconomy and financial markets are available in the Chartbook to Datastream users at www.datastream.com. Alternatively you can access Fathom’s Chartbook at www.fathom-consulting.com. Excessive public borrowing bad. Excessive private [...]

As part of its international rescue package, Cyprus will impose a one-off tax on depositors at its banks. Depositors in other peripheral countries may feel their savings are less secure. If that is the case, we would expect to see a surge in the absolute size of Target 2 balances, with the core balances becoming [...]

This research note is provided by Fathom Consulting. All of the charts below and many many more, covering a range of topics and countries on both the macroeconomy and financial markets are available in the Chartbook to Datastream users at www.datastream.com. Alternatively you can access Fathom’s Chartbook at www.fathom-consulting.com. February Chinese CPI  and Trade data [...]

The US economy created 236,000 jobs in February, which was considerably more than the 160,000 that economists polled by Thomson Reuters had been looking for. Meanwhile the US unemployment rate fell 0.2 percentage points to 7.7% – its lowest level in four years. However, long-term unemployment remained extremely high, and was essentially unchanged on the [...]

Investors remained focused on risk assets throughout much of February, in spite of sharp reminders that the economic backdrop still offers plenty of challenges to growth. As winter storms blew across North America, uncertainty and volatility returned to financial markets over the course of February, as the outcome of the Italian election campaign reminded investors [...]

This research note is provided by Fathom Consulting. All of the charts below and many many more, covering a range of topics and countries on both the macroeconomy and financial markets are available in the Chartbook to Datastream users at www.datastream.com. Alternatively you can access Fathom’s Chartbook at www.fathom-consulting.com. The Dow Jones Industrials surpassed its [...]

This research note is provided by Fathom Consulting. All of the charts below and many many more, covering a range of topics and countries on both the macroeconomy and financial markets are available in the Chartbook to Datastream users at www.datastream.com. Alternatively you can access Fathom’s Chartbook at www.fathom-consulting.com. As we highlighted in last month’s [...]