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14. July 2020
USA: The federal fiscal deficit skyrockets to 15% of GDP. It's 'feeling safe, stupid'
13. July 2020
Turkey: Ankara launching aggressive fiscal and monetary stimulus measures erodes the foundation of the lira
Podcast interview with The Economist's Asia economics editor, Simon Rabinovitch, on China's economic and political situation - and how Beijing handles a hostile global environment
10. July 2020
USA: Deflationary pressure prevails in the short run, not least as policymakers are not in control of Covid19. Nonetheless, the foundation for higher inflation is building
France: Manufacturing activity skyrockets in May reinforced by over-reacting policymakers, but an unpredictable coronavirus outbreak will put a lid on growth in 2021
Podcast interview with Lene Winther, Berlingske's China expert, on the implications of Europe drawing a line in the sand due to a more self-assertive leadership in Beijing [FREE ACCESS]
9. July 2020
Germany: Pan-European stimulus measures will provide short-term support to exporters, but they face secular headwinds
China: Slowing producer price deflation in June indicates a manufacturing rebound gaining momentum. Beijing sponsors stock market rally
8. July 2020
Japan: Service sentiment bounces back as Tokyo takes out the classic 'cutting-corners' tools
7. July 2020
A short note on the latest spikes in Covid19 cases around the world
Germany: The manufacturing rebound is on track supported by a fiscal and monetary 'over-reaction' - but growth in 2021 is forecast to disappoint
Household spending plummets in May despite the fact that Japan has been among the least locked-down economies
6. July 2020
USA: Strong ISM service survey underscores that growth could prove less downbeat in 2020 than forecast by the market consensus. This gives rise to food for thoughts when it comes to new stimulus measures
Euro-zone: May retail sales report shows, Q2 GDP growth could surprise to the upside
Spain: The rebound in the 'periphery' could stall without financial support now and not tomorrow
Germany: Industrial orders bounce back at a slower pace than predicted, but IFO survey heralds stronger recovery in June and July
3. July 2020
China: 'Strong' Caixin service survey disguises anecdotal picture of a far more gloomy economic situation on the mainland. Negative growth in 2020 remains the forecast
Australia: Retail sales bounce back sharply in May. Covid19 outbreak in Melbourne poses no short-term threat, but it shows the vulnerability of the economy
2. July 2020
USA: Strong employment report in June - more in the pipeline in July and August, as the economy reopens - prematurely
1. July 2020
USA: Manufacturing ISM index skyrockets to the highest level since April 2019, as a 'premature' reopening has started
'Commercial': Interesting TV interview with one of Denmark's leading virus experts
Europe: Sweden's PMI survey finally shows a rebound in export sentiment, but Europe faces a 'second wave' after using all ammo on the 'first wave' of Covid19
Japan: The Bank of Japan's quarterly Tankan survey shows a steep decline in business sentiment. The valuation of the Japanese stock market leaves no room for disappointment
30. June 2020
Switzerland: The leading KOF economic barometer index disappoints despite a steep rebound in business sentiment in neighbouring Germany
China: 'Strong' PMI survey shows higher 'output' supported by stimulus measures, but China faces heavy headwinds from increasing hostility abroad
South Korea: Industrial output contracts sharply in May, as the recovery disappoints
29. June 2020
Turkey: The 'expected' rebound gains momentum, as all stimulus engines are running. Policy rates have moved below the annual rate of inflation
EU Commission survey: Policymakers spending all their ammo to fight the economic impact of the 'first wave' boosts sentiment, but this will leave countries empty-handed after a 'second wave' of Covid19
China: Industrial profit data do not change the fact that the economy is headed towards economic contraction in 2020. There is no easy way out of the coronavirus crisis
26. June 2020
Italy: Business and consumer sentiment bounces back in June. The economy will do much better in 2020 than market consensus and not least the IMF forecast
France: INSEE's leading consumer confidence survey shows a sharp rebound in sentiment, which remains significantly higher than seen during the financial crisis in 2008
Surprisingly weak IMF 2020 growth forecast. Conversely, surprisingly upbeat 2021 growth, which must assume a 'well-tested' Covid19-vaccine is here 'tomorrow' - although highly unlikely
25. June 2020
USA: Massive stimulus measures and disorderly reopening process boost durable goods orders - but policymakers are left empty-handed for the 'second wave'
Germany: Consumer sentiment bounces back supported by successful virus control and a sledgehammer of fiscal support. Danish retail sales skyrocket to the highest level since 2008
Follow-up macroeconomic chart update: Policy-mistakes just keep coming. The focus should be on preparing the infrastructure for the 'second wave'. Follow Germany!
24. June 2020
Sweden: The leading June economic sentiment survey fails to show the same economic rebound as in Germany
Germany: IFO survey is a harbinger of a strong rebound. Did policymakers use a sledgehammer to crack what could prove to be a nut?
France: The leading Insee manufacturing business survey disappoints while the service sentiment index skyrockets in June
23. June 2020
USA: New home sales skyrocketing in May indicate that an external shock has, so far, yet again created tailwinds rather than headwinds
Britain: A weak CBI Industrial Trend Survey underscores why the 'old Boris Johnson' is now back in charge of the Covid19-strategy
19. June 2020
There will be no updates on Monday - June 22
Britain: Retail sales bounce back sharply as Covid19-related cases decline. 'A third of furloughed employees asked to work while firms get government handouts'
18. June 2020
USA: Philadelphia Fed survey shows that the manufacturing sector is back to 'normal' - or more precisely, back into the 'boom zone'
Australia: The number of jobless skyrockets in May - the labour participation rate plunges - the Aussie dollar will see support from fiscal stimulus measures
Podcast interview with Steffen Schiottz-Christensen about how China's restart process is progressing, a serious virus outbreak in Beijing and doing business in a more hostile environment for foreigners [FREE ACCESS]
17. June 2020
Japan: Reuters Tankan survey continues to show a gloomy outlook for the manufacturing and service sector. Japan's stock market has performed surprisingly well considering a downbeat global trade outlook
16. June 2020
USA: Skyrocketing retail sales in May show that 'surprisingly' upbeat business and consumer sentiment surveys have been a reflection of the 'real situation' in the economy
Germany: Investor sentiment hits the highest level since 2005 inflating the gap to corporate sentiment
Britain: Jobless claimants skyrocket in May. Prime Minister Johnson is unprepared for an 'unavoidable' second wave. The same applies to the rest of Europe and not least the United States
15. June 2020
China on a fragile path of economic rebound should be seen as a warning to European policymakers. The price of containment is high but needed
12. June 2020
USA: Consumer sentiment stays at a relatively high level considering the extent of the coronavirus outbreak. No signs of the worst crisis since the Second World War
Turkey: Industrial production collapses by 31% in April, as the country could plunge into the second recession in two years
Euro-zone industrial production plunges in April, but May-June report is expected to show a 'huge' rebound in manufacturing output
Britain: The economy collapses by 20% in April after Prime Minister Johnson changed policy to 'containment'
11. June 2020
USA: Producer price report shows mild deflationary pressure. New virus clusters show the country reopens the economy too quickly
Italy: Industrial output plummets in April, but output to bounce back from June and beyond. Alas, the tourist season 2020 seems to be a lost cause. Debt-sharing needed, but rich EU member states have their own problems
The Federal Reserve cements its role as the primary sponsor of inequality in the United States 'until at least the end of 2022'. Monetary policy is no panacea for mitigating the impact of Covid19
10. June 2020
China: May monetary statistics still show no evidence of aggressive monetary easing measures
Australia: Consumer and business sentiment bounces back sharply as the country benefits from a highly successful virus containment policy and fiscal prudence in the past
China: Inflation report continues to show that the 'new normal' is deflationary, at least in the short run
9. June 2020
USA: Small business sentiment survey still shows no signs of a crisis similar to the Great Recession in 2008 - which is a surprise considering the lockdown
Germany: Exports plunge in April at the fastest annual rate since 1963. 'Temporary' fiscal support measures will soon turn into 'permanent' all over Europe
8. June 2020
Podcast interview with Peter Boegh Hansen, Danish Industry China, who sees significant interest from Danish companies considering to enter the world's second-largest economy [FREE ACCESS]
Japan: Economy Watcher 'future conditions index' soars in May - but Prime Minister Abe's approval rating continues lower
Germany: Industrial orders plunge in April, but orders expected to bounce back sharply in May. The US withdrawing troops will force Berlin to boost defence spending more rapidly
USA: Nonfarm payrolls skyrocket at the fastest pace ever recorded. Take-profit on short-dollar-long-euro strategy and take-loss on short-US-stock-market
4. June 2020
ECB President Lagarde does nothing to hide that the role of the central bank has reached the limit. The case for a stronger euro remains strong despite PEPP increase
Germany launches yet another fiscal stimulus package - 'Wir machen das weil wir es uns leisten können'
3. June 2020
USA: ISM service survey shows a very slow economic rebound. The economy faces a bumpy road
Germany: Unemployment skyrockets in May. 'Kurzarbeit Scheme' keeps unemployment at an artificially low level - for now
Sweden: The service PMI index fails to make a decisive rebound in May, as households, to no small extent, react in the same way as the rest of Europe
China: Caixin service PMI index jumps sharply in May after a disappointing survey in April
Podcast interview with a Singaporean entrepreneur in China about what comes next [FREE ACCESS]
2. June 2020
The US stock market sees declining 'immunity' despite money printing: Sell the US stock market
China: Manufacturing PMI survey shows a slow restart of the economy. More stimulus measures will be needed, according to Beijing
USA: ISM manufacturing survey barely shows improvement. Social tensions pose risks to the 'reopening' and the stock market
31. May 2020
By Invitation: May session of China's National People's Congress held in the shadow of escalating China-US conflict 
29. May 2020
Switzerland: Surprisingly few signs of a rebound in the May KOF Institute survey. The headline index fell to a new record low
Japan: Industrial output and retail sales take a beating in April - more downside in May. Tokyo is left 'defenceless'
The case for a stronger euro against the US dollar continues to gain support from several factors
28. May 2020
USA: Better-than-expected durable goods orders and business surveys should make investors think twice about the need for more fiscal stimulus measures. This is 'dollar bearish'
Euro-zone: Economic sentiment shows only marginal improvement in May, as service sentiment hits a new record-low
Sweden: The NIER Economic Tendency survey is a disappointment considering talk about 'Europe opening up'
Spain's catastrophic retail sales number is just one more factor boosting support for EU deal. Britain leaving the union makes leeway for debt-sharing - but also the revival of nationalism in rich member states
27. May 2020
China: Reluctant policymakers in Beijing are warming up to more aggressive fiscal and monetary stimulus measures
South Korea: Manufacturing sentiment takes another beating to a new record low. Deflationary pressure rose during the 'first' coronavirus crisis
France: Disappointing May business sentiment survey underscores why President Macron is eager to 'help Italy, Spain - and France'
26. May 2020
USA: Consumer confidence in May stays at a relatively high level considering the extent of the coronavirus outbreak
USA: Regional manufacturing and non-manufacturing Philadelphia Fed surveys herald V-shaped recovery
Germany: Consumer sentiment recovers only very slowly, as the long-term outlook has deteriorated markedly
25. May 2020
Germany: IFO survey shows light at the end of the tunnel, but the manufacturing sector and the service sector remain in deep recession in Q2
EU: Franco-German deal will probably be passed, but this will not unite the union. The opposite is the case
Two Sessions: Beijing needs to launch more aggressive measures to achieve 'some economic growth' in 2020
USA: Regional Philadelphia Fed survey 'concludes' Covid-19 to disappear from the radar in the not too distant future - or has money-printing done the trick?
20. May 2020
There are no updates on May 21-22 due to public holidays
Taiwan: A highly successful virus containment strategy has protected the people and the economy. Exports orders from China jump
Japan: A sharp decline in the Reuters Tankan's manufacturing and service index heralds close to 10% contraction in Q2
Interactive presentation: Life 'after' the coronavirus outbreak - A storyboard update
19. May 2020
Britain: Jobless claimants skyrocket to the highest level since the 1960s - European policy-making creates the foundation for a negative 'economic wave' further down the road