Global
Top Economic Reports
September 16, 2013

By Global Economic Team|

Economics and Banks: The New Spain: The Spanish economy looks set to grow again. But whether a subpar recovery turns into a more sustained upswing hangs on where Spain is in the process of deleveraging, rebalancing and reforming. There's more to do, but we're more constructive than market expectations on Spain's ability to set itself apart from the rest of the periphery in the medium term. Daniele Antonucci

Sunday Start: What Next in the Global Economy (SEPTEMBER 08, 2013): It's been a lofty summer, peppered with some wonderful hiking in the Alps and cycling in the Baltics, and no Sunday Start to worry about for a few weekends. Yet, my Morgan Stanley macro colleagues and I spent most of August re-assessing the outlook for the global economy and markets in the light of the surge in global real interest rates and the collateral damage it has caused in many EM economies. I guess you're familiar with the results of our joint effort published on September 2-3 by now, as we had more than 3,000 participants on three conference calls this past week and in excess of 10,000 clicks on our various Back-to-School reports and videos. Joachim Fels

Hong Kong Economics: Higher Real Rates to Weigh on Growth Outlook: Maintaining 2013 GDP growth estimates but cutting 2014 estimates: Hong Kong's economy posted a strong performance in 1H13, growing by 3.1% YoY, with domestic demand continuing to be a key pillar of support. However, we expect rising real rates to slow down the pace of domestic demand growth. In this context, we maintain our GDP growth estimate of 3.0% for 2013 but lower our 2014 GDP growth estimate to 2.7% (3.5% previously). Derrick Y Kam