Chinese holidaymakers lead the charge over Christmas January 13, 2014 Wealthy foreign visitors helped keep Britain’s tills ringing over Christmas with spending up a record 40 per cent on the previous year. Chinese tourists led the charge, with spending up 52 per cent to around £741 per transaction in December, according to figures out today by tax-free shopping specialist Global Blue. While China accounted for [...]
Who will build the roads (after these capacity constraints)? January 13, 2014 Since the New Year, a number of surveys have been pretty explicit about new constraints on the supply of materials and labour in specific industries. Last week, the British Chambers of Commerce said that 81 per cent of manufacturers are reporting difficulties in recruitment, the highest on record. In Services, it’s 60 per cent, perhaps more [...]
Here’s why this analyst thinks Royal Mail shares could go higher still January 13, 2014 Royal Mail's announcement of a management team reshuffle has already been met with glee by one analyst. Robin Speakman of Shore Capital says that the changes "reflect transformation progress", and Speakman is convinced that the delivery company still has "strong potential … for profitable growth and development". Shore Capital are maintaing a "buy" rating on [...]
It’s time for financial bears to hibernate January 13, 2014 Investors are about to face a news drought, following on from Friday's US payroll data. Kit Juckes of Societe Generale says that should be enough to send financial bears, particularly of the emerging markets variety, into hibernation. We're going to need to wait "until the snow melts and the true data pictures emerges", he says. [...]
Carney welcomes nomination of former colleague Stanley Fischer as Fed vice chair January 10, 2014 Bank of England governor Mark Carney has shared some kind words for a former colleague, Stanley Fischer (pictured). Carney says that he is "delighted by the prospect of Stan Fischer re-joining the global community of central bankers" as Fischer was nominated to the position of Federal Reserve vice chairman by US President Barack Obama today. [...]
This analyst says the Federal Reserve needs to learn a crucial hockey skill January 10, 2014 The Federal Reserve's job is complex. It has to simultaneously avoid high unemployment while keeping inflation steady, and that can sometimes lead it to cause "new, potentially bigger problems down the road" says Deutsche Bank strategist Oleg Melentyev. That's meant that policy makers have created new and complex monetary tools. Current monetary policy is "creating [...]
UK growth slowed at end of 2013, says think tank January 10, 2014 The UK's economy grew just 0.7 per cent in the three months to December, according to estimates by think tank Niesr. That's down from the 0.8 per cent that Niesr estimates GDP grew in the three months to November, and sees the level of GDP at 1.2 per cent below its pre-recession peak. Niesr say [...]
US weather sees jobs additions fall to 2011 low January 10, 2014 A nasty number for the US economy. Nonfarm payrolls have come in at just 74,000 for December, far lower than the 196,000 job additions analysts had expected. The Bureau of Labor Statistics said that weather had been a major factor in the low payrolls number. Those unable to work because of the bad conditions stood [...]
Here’s a novel new way to estimate US jobs figures January 10, 2014 We can't say this isn't an innovative way to estimate nonfarm payrolls. Waiting for the cat to come in from the garden for this month's US non-farm payroll predictions #NFP pic.twitter.com/icS9Ji60cV — Craig Drake (@csdrake) January 10, 2014 Consensus estimates say that the US will have added 196,000 jobs in December. We'll add Bob [...]
Here’s why the market would be really surprised by a US jobs surprise January 10, 2014 As we look ahead to the day's big event – US labour market data – one analyst thinks the event is becoming boring. Kit Juckes of Societe Generale says that the volatility of the monthly nonfarm payrolls released, measured by a rolling 36-month standard deviation, is at its lowest level since January 1986. Analysts are [...]
