UK employees report higher pay reviews in 2016, but average wage rise of only 1.3% signalled

Survey data collected in March and April point to disappointingly weak UK pay reviews in 2016, though wage pressures have picked up slightly compared to 2015.

Latest five-year socio-economic development plan launched in Vietnam

April saw the National Assembly in Vietnam agree a new five-year socio-economic development plan covering the years 2016-2020. As part of this plan a number of economic targets have been set. This note looks at the targets and attempts to judge how likely the country is to achieve them. But first, we take a look at the latest PMI data on the performance of the manufacturing sector to gauge the current economic situation.

Bank of Japan holds off from further stimulus despite economic woes

Official data confirmed the poor start to the year suffered by Japan's manufacturers. Data from the Ministry of Economics, Trade and Industry (METI) recorded a 1.0% drop in manufacturing output over the first quarter, corroborating Nikkei PMI data which have shown a deterioration in business conditions in the sector.

US official data corroborate survey signals of stalling first quarter growth

US economic growth slowed sharply to a near stand-still in the first quarter, and early signs indicate that the malaise extended into the second quarter.

US Fed holds policy but edges door open for further rate hikes

The US Federal Reserve kept policy on hold at its April FOMC meeting, as widely expected. Since hiking rates for the first time in almost a decade in December, appetite for further policy tightening has waned, though the statement accompanying the meeting still suggests the door remains open to two more rate hikes this year.

UK economic growth slows in first quarter, with further easing likely ahead

UK economic growth slowed in the first quarter, according to official data, and key indicators point to a further deterioration in the second quarter.

Worsening UK economic environment points to slower growth ahead

A slowing in the pace of UK economic growth is signalled by a worsening of financial conditions and an increase in economic uncertainty.

US flash services PMI raises hopes of faster second quarter GDP growth

Flash PMI survey data from Markit suggest the US economy could see GDP rise at an increased rate in the second quarter, but growth is clearly far more fragile than this time last year.

US manufacturing reports worst month for 6½ years

US factories reported their worst month for just over six-and-a-half years in April, dashing hopes that first quarter weakness will prove temporary.

Japan flash PMI signals steepening manufacturing downturn as exports slump

The downturn of Japan's manufacturing sector gathered speed in April. The Nikkei Flash Japan Manufacturing PMI fell from 49.1 in March to 48.0, its lowest since January 2013 and the second successive month for which the index has signalled a deterioration in the sector's overall health.

UK unemployment rises and household mood darkens

The UK labour market showed signs of cooling in February and survey data signalled that households are becoming increasingly concerned about both job security and rising prices in recent months.

UK household worries mount amid job, price and interest rate concerns

Households' worries about their future finances have risen to the highest since last December.

Global growth lifted by rising consumer and business spending

Global economic growth showed tentative signs of emerging from the doldrums in March, with a broad-based improvement across consumer and corporate markets, according to the latest release of PMI numbers from Markit.

Chinese GDP slowdown brings steepening job losses

China's economy expanded by 6.7% on an annual basis in the first quarter of 2016, down from 6.8% in the final quarter of 2015. This was the slowest expansion of GDP since the global financial crisis in early-2009, adding to evidence that economic growth looks set to slow for the sixth successive year in 2016.

Saudi Arabia and UAE prove resistant to headwinds in March

Latest PMI data from Emirates NBD and Markit pointed to ongoing growth of non-oil private sector output in Saudi Arabia and the United Arab Emirates. Business conditions improved in both economies, despite both facing headwinds of a strong US dollar and low oil prices.

Global economic growth weakest since late-2012

Global economic growth was running at its weakest for over three years in Q1, according to the JPMorgan Global PMI™, compiled by Markit. Despite rising slightly in March, the PMI is broadly consistent with global GDP growing at an annual rate of just over 1% (at market prices) compared with a long-run average of 2.3%. Subdued developed world growth was, however, accompanied by tentative signs of renewed life in emerging markets. The weak global PMI data were promptly followed by a downward revision to the IMF's global outlook.

Weak global PMI for March rounds off worst quarter since 2012

Global economic growth was running at its weakest for over three years in the first quarter, according to PMI data. The JPMorgan Global PMI, compiled by Markit from its worldwide business surveys, rose to 51.3 in March, but the latest reading represented only a minor improvement on February's 40-month low of 50.8. At 51.6, down from 53.1 in the fourth quarter, the average PMI reading for the first three months of the year was the weakest calendar quarter since the end of 2012.

Global manufacturers see worst quarter for almost three years

Global factory growth remained near-stagnant in March, according to PMI survey data. The JPMorgan Global PMI, compiled by Markit from its worldwide business surveys, rose from the no-change level of 50.0 seen in February, but at just 50.5 signalled only a marginal improvement in overall conditions.

German economic growth remains sluggish amid near stagnation of manufacturing

Germany's composite Output Index (produced by Markit from its manufacturing and service sector surveys) fell to an eight-month low of 54.0 in March, pointing to a slowdown in economic activity at the end of the first quarter. The survey data are nevertheless still signalling modest, albeit unspectacular, GDP growth of approximately 0.4% in the opening quarter of 2016.

UK PMI points to first quarter slowdown and gloomy outlook despite upturn in March

Survey data indicate a slowing in UK economic growth in the first quarter, with the suggestion that the pace is more likely to ease further rather than recover in coming months as business confidence remains unsettled by worries at home and abroad.

Robust US labour market unlikely to sway Fed into imminent rate hike

Another good month of hiring in the US will encourage further chatter in some corners of the Fed moving closer to hiking interest rates again, but signs of weakening economic growth mean policymakers are likely to be cautious and hold off until the global economy is showing greater vigour and the US economy more sparkle.

Robust US labour market unlikely to sway Fed into imminent rate hike

Another good month of hiring in the US will encourage further chatter in some corners of the Fed moving closer to hiking interest rates again, but signs of weakening economic growth mean policymakers are likely to be cautious and hold off until the global economy is showing greater vigour and the US economy more sparkle.