Article7 November 2018Reading time 4 minutes

Singapore economic development

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

In this article

UK headline consumer price

UK headline consumer price inflation has jumped from 2.5% to 2.7% in August. This is the fastest pace of inflation since February and is a fair bit above the 2.4% market consensus. To highlight the surprise of this report, not a single economist out of 36 surveyed by Bloomberg predicted it would come in this high. The core rate, which excludes food and energy components saw a similar miss. The annual rate rose to 2.1% from 1.9% rather than drop to 1.8% as predicted.

To highlight the surprise of this report, not a single economist out of 36 surveyed by Bloomberg predicted it would come in this highj

The details show the main upside appears to come from the clothing and footwear component and recreation. After a period of intense deflation, prices jumped 3.1% month on month, lifting the annual rate of clothing price inflation to +0.3% from -0.4%. Transport prices also rose to 6.1% YoY from 5.7% (led by transport fares rather than energy) while recreation saw its annual inflation rate rise to 3.6% from 3.1% (led by theatre price hikes apparently).

There were also moves higher in health, food and alcohol. Marginal declines were seen in miscellaneous, household and communication prices.

Podcast #1

0:00
0:00

Short description of the podcast

Lorem ipsum

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Voluptate

Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

The role of automation

China is rapidly automating production. In 2014, President Xi Jinping called for a “robot revolution” in the manufacturing industry. Since 2015, the Chinese working population (age 15 to 64) has been decreasing. This decline will continue for the foreseeable future, while the total Chinese population keeps on growing. In order to maintain strong economic growth and support the elderly in China, productivity growth is needed to compensate for the declining working population.

Singapore economic development

James Smith: what I think about

What is ING's Developed Market Economist, James Smith thinking about? To mark the launch of our new economic and financial analysis website, he says he's thinking about issues like Brexit, which may sound really high-level at first, but they have massive implications for everyday life.

He says we're living in a new era of politics and economics and his job is trying to work out what's going to happen when the rule book has been ripped to pieces.

42

Forty-two

Higher

FX AMP test

 
Spot
Week ahead bias Range next week 1 month target
GBP/USD
1.1000
Neutral 1.8000 - 2.0000 4.0000

Comment with the FX