Global Datanote: CPI, Indonesia, April

• In one line: Electricity discounts are now well and truly a thing of the past.

Miguel Chanco (Chief EM Asia Economist)Global

Global Datanote: ISM Manufacturing Survey, US, April, 2025

• In one line: Headline index steady in April; but a lot of pain lies ahead.

Samuel TombsGlobal

Global Datanote: BanRep Announcement, Colombia, April, 2025

• In one line: Surprise rate cut signals cautious support for the recovery.

Andrés Abadía (Chief LatAm Economist)Global

Global Datanote: Advance GDP, US, Q1, 2025

• In one line: Tariffs distort the numbers, but underlying growth was already slowing in Q1

Oliver Allen (Senior US Economist)Global

Global Datanote: Advance GDP, Mexico, Q1, 2025

• In one line: Agricultural rebound masks broad-based weakness.

Andrés Abadía (Chief LatAm Economist)Global

Global Datanote: Bank of Thailand Decision

• In one line: Compelled by the US’ tariff war, and allowed for by a resumption of sub-1% inflation.

Miguel Chanco (Chief EM Asia Economist)Global

Global Datanote: BCCh Rate Decision, Chile, April, 2025

• In one line: The BCCh holds fire, as global risks intensify.

Andrés Abadía (Chief LatAm Economist)Global

Global Datanote: Industrial Production, India, March

• In one line: Capping off an unremarkable Q1.

Miguel Chanco (Chief EM Asia Economist)Global

Global Datanote: Flash PMIs, Eurozone, April 2025

In one line: Trade wars are not good for firm morale.

Claus Vistesen (Chief Eurozone Economist)Global

Global Datanote: Flash PMIs, Germany, April 2025

In one line: As in France, domestic demand is rattled by tariff concerns and PMI shows clear signs of tariff front-running.

Claus Vistesen (Chief Eurozone Economist)Global

Global Datanote: Flash PMIs, France, April 2025

In one line: Fastest fall in demand for services since Covid pulls down the headline.

Claus Vistesen (Chief Eurozone Economist)Global

Global Datanote: Detailed Inflation, Eurozone, March 2025

In one line: Falling oil prices and a stronger euro are gifts to ECB doves.

Claus Vistesen (Chief Eurozone Economist)Global

Global Datanote: Inflation IPCA and Economic activity index, Brazil, March/February, 2025

• In one line: Rising food prices and FX volatility rekindle inflation risks amid slowing domestic demand. 

Andrés Abadía (Chief LatAm Economist)Global

Global Datanote: CPI, US, March, 2025

• In one line: Tariffs will snatch defeat from the jaws of victory.

Samuel TombsGlobal

Global Datanote: Bangko Sentral ng Pilipinas Decision

• In one line: Easing back on; three more cuts to go, from our vantage point.

Miguel Chanco (Chief EM Asia Economist)Global

Global Datanote: Inflation, Mexico, March, 2025

• In one line: MXN depreciation clouds the outlook.

Andrés Abadía (Chief LatAm Economist)Global

Global Datanote: Reserve Bank of India Decision

• In one line: Expect at least two more consecutive 25bp cuts.

Miguel Chanco (Chief EM Asia Economist)Global

Global Datanote: Inflation, Chile, March, 2025

• In one line: Sticky due to temporary shocks.

Andrés Abadía (Chief LatAm Economist)Global

Global Datanote: CPI, Indonesia, March

• In one line: Short-lived, policy-induced deflation is over.

Miguel Chanco (Chief EM Asia Economist)Global

Global Datanote: Employment, US, March 2025

Healthcare driving payroll growth again; ongoing support will offset some tariff damage.

Samuel TombsGlobal