US economy rebounds in second quarter

Updated GDP numbers deliver a double-punch to US economy doom-mongers, painting a reassuringly bright picture of the health of the US economy so far this year and raising the odds of the Fed hiking interest rates in September.

A simple guide to nowcasting Taiwan’s GDP using the PMI

PMI data can be used to provide a simple but surprisingly accurate guide to Taiwan’s GDP growth rate well in advance of official statistics.

US flash PMI data point to upturn in economic growth at start of third quarter

Signs of faster growth in the service sector at the start of the third quarter add to the likelihood of the FOMC moving closer to hiking interest rates for the first time in over six years.

UK economy shows impressive rebound in second quarter

Solid growth in the second quarter is welcome news that the UK economy continues to expand at an impressive pace in spite of headwinds from the general election, the stronger pound and eurozone worries.
The Bank of England had already pencilled in a 0.7% expansion, so today’s data merely confirm the growth trajectory built into the Bank’s forecasts and do little to change the outlook for interest rates. However, by the same measure, the data support the case for rates to start rising sooner rather than later.

Upturn in Japan manufacturing PMI fuels third quarter growth hopes

Japan’s manufacturing economy showed tentative signs of stirring back into life at the start of the third quarter after its worst performance for a year in the second quarter. However, signs of inflation picking up remain disappointingly scarce.

Eurozone flash PMI holds close to four-year high despite Greek uncertainty

Eurozone economic growth lost only slight momentum in July amid the rollercoaster events of the Greek debt crisis during the month. The rate of expansion remained reassuringly robust to suggest that it was by-and-large ‘business as usual’ for the region as a whole.

Chinese manufacturers report steepest downturn for 15 months at start of third quarter

The Chinese economy started the third quarter with the steepest contraction of manufacturing activity for 15 months, according to survey data. The Caixin Flash China General Manufacturing PMI, compiled by Markit, fell from 49.4 in June to 48.2 in July, its lowest since April of last year. The latest reading signalled a contraction of the manufacturing economy for a fifth consecutive month.