Fernando González Urbaneja | “GDP and employment are increasing, the external balance is improving… while productivity, per capita income, and convergence with the EU stagnate”. The Spanish economy shows ambivalent signs that, depending on the data and periods chosen, serve a multitude of purposes. The government chooses the best of the repertoire to conclude that the economy is the electoral weapon to win support; in fact, the new economy minister…
Banca March: Consumer confidence bounces back higher than expected in June, rising to 109.7 from 102.5 and above the 104 expected. With this acceleration in consumer confidence, the index reached its highest level since January 2022. This is positive given that both the current situation sub-index improved (155.3 vs. 148.9 previously) and the expectations component also improved (79.3 vs. 71.5 previously). Still in the US economy, we also had positive…
The Corner | March 23, 2015 | Mario Draghi’s speech will be in focus as traders seek further information on the effect the ECB’s QE programme is having. This week is likely to see strong growth figures posted in the US, while inflation in the eurozone will continue to languish. Greece will again be under the microscope on international markets, as direct talks between leader Alexis Tsipras and German Chancellor Angela Merkel finally get under way.
LONDON | By Barclays analysts | Q1 data suggest that the refocusing of the FLS scheme toward SMEs’ funding has yet to deliver. Credit remains subdued for SMEs, despite an improvement in overall availability of and demand for credit for private non-financial corporations. Higher consumer confidence, coupled with improvements in the economic outlook, bodes well for household consumption in Q2.
LONDON | By London analysts | Since the end of the most recent recession, US consumer confidence has remained on an upward trend, despite several negative shocks from government policy. Given this track record, we expect the fall in confidence related to the federal shutdown to be short-lived.