A Dash of Coldwater Economics - week ending 3rd January
Update: 2020-01-05
Description
The holidays bring a much reduced data-flow from US and Europe, whilst Asia continues to report much as usual. So this episode tracks developments showing up in that data for the two weeks. In particular,
I look at the way inventory-clearing is improving US trade data at the cost of depressing industrial activity;
I look at the strange broad improvement in South Korea's recent data, and question how it can be justified;
I look at the dramatic erosion of Hong Kong's fiscal position, which unless Beijing gives them a pass, will have to be dealt with;
And I look highlight the two or three piece of data to come from Europe over the holiday period which just might be significant.
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