Production in Iran is tumbling as sanctions begin to bite OPEC+ only able to partly compensate for lower Iranian production…
US housing market is heading towards a building boom amid demand for housing in the suburbs and record-low mortgage yields. With household savings high, and other sectors of the economy also set to take off, Washington should focus on most vulnerable rather than general stimulus
British businesses have generally been more optimistic than in the EU, but that advantage evaporated in January as services crashed. A tough lockdown with no end in sight is taking a toll, despite higher rate of first-shot vaccinations than in other European countries #macrobond
Business optimism declined in the euro area in January as new restrictions hit services again. Consumption is likely to suffer more this winter compared to last spring, as household now wait for the vaccines and reopening of the economy rather than buying more goods. #macrobond
German ZEW-index increased in January, pulled up by better expectations. Current conditions - more strongly correlated with actual GDP-growth - was unchanged at a deeply recessionary level. Will improve in spring with solid household finances, and strong manufacturing orders
China's economy continues to recover with 2.6% QoQ GDP growth in Q4 and 6.5% annual growth. China is only major country to report positive growth rate in 2020; industrial production has exceeded expectations, while consumption has been a bit slower to recover #macrobond
