Archive for August 14th, 2013

Deeper Analysis

Few Comments on Euroland GDP Figures

August 14, 2013

Note that Euroland expresses GDP changes without the U.S. convention of annualization.  Thus U.S. second quarter GDP growth, which was reported earlier as 1.7% — the change if the 2Q-over-1Q pace were sustained for a full year — would in the European custom be expressed as a 0.4% advance.  Similarly, British and Japanese growth on […] More

Central Bank Watch

Chilean Central Bank Rate Left at 5%

August 14, 2013

The central bank board left the monetary policy interest rate at 5.0%, its level since a sole 25-basis point cut in January 2012.  Previously, the rate was raised 475 basis points in a dozen moves between June 2010 and June 2011 after having been cut by 775 bps to 0.5% during the first seven months […] More

New Overnight Developments Abroad - Daily Update

Positive GDP Growth Reported in the Euro Area

August 14, 2013

Markets barely reacted to the news that Euroland as a whole returned to positive growth last quarter.  The 0.3% non-annualized increase from 1Q exceeded analyst expectations and trimmed the four-quarter rate of GDP decline to 0.7% from 1.1% in 1Q.  Italy, Spain, Cyprus and the Netherlands were among the countries that saw GDP contract further, […] More