http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-10-29.htmlNBFG Monthly Economic Monitor - November 2010 Highlights We continue to expect that global growth will cool next year to a rate closer to trend, as a result of factors including the beginning of monetary normalization in Asia and the removal of fiscal stimulus from developed economies. That said, excessive accumulation of reserves by some emerging countries brings a non-negligible risk of rising protectionism. The weakness of the U.S. labour market, combined with a double dip in the housingFri, 29 Oct 2010 21:33:35 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-10-29.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-09-27.htmlNBFG Monthly Economic Monitor - October 2010 Highlights Global growth will moderate in 2011. Emerging Asia will remain the driver. With inflation on the whole still tame and, especially, with developed economies slowing, the major Asian central banks are probably not being reckless in giving monetary policy a further expansionary turn. With the U.S. economy halfway back to its previous peak, cyclical forces are fading. A fog of uncertainty about next year’s tax rates is modifying the behaviourMon, 27 Sep 2010 19:17:08 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-09-27.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-08-30.htmlNBFG Monthly Economic Monitor - September 2010 Highlights Europe’s cyclical momentum means that the chances of its dragging down global growth have lessened in recent months. However, a slowdown of the advanced economies next year is likely to bring a soft landing in 2011. The U.S. badly needs more private-sector job growth to reduce its unemployment rate and keep the Fed from moving to additional quantitative easing. BEA revisions of past GDP numbers have reduced our expectation of 2010Mon, 30 Aug 2010 20:42:15 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-08-30.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-06-23.htmlHighlights On the whole, the world economy has enough momentum at present to absorb the crosswinds of Europe’s fiscal crises. Though growth is uneven across the major economic regions, we expect global growth of about 4% in 2010. After the worst recession since the 1930s, oxygen from public stimulus programs has helped the U.S. private-sector economy gradually get back on its feet. We expect U.S. growth to remain strong over the rest of 2010 and then be slowed in 2011 by the drag of federalWed, 23 Jun 2010 21:46:55 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-06-23.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-05-28.htmlHighlights Unfavourable structural forces in Europe have put a question mark over the global expansion, but we doubt the headwinds will be strong enough to derail growth in other regions of the world. We are revising down our outlook for Europe in 2010 but maintaining our forecast of global growth in excess of 4%. The real economies of the U.S. and Europe are not tightly linked, and the adjustment mechanisms of the U.S. economy are more robust than Europe’s because its labour market is moreFri, 28 May 2010 19:04:31 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-05-28.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-04-23.htmlHighlights Last year’s large-scale fiscal and monetary stimulus has accelerated worldwide industrial production to its steepest 12-month growth in more than 35 years. With U.S. employment growing again and robust inventory rebuilding under way, the recovery of the world’s largest economy has become self-sustaining. The indicators of the last month brighten the outlook even more and prompt us to raise our forecast of 2010 GDP growth by 0.2 points to 3.6%.   With the Canadian service sectorFri, 23 Apr 2010 19:09:16 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-04-23.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-03-26.htmlHighlights Global GDP and international trade are gradually approaching their pre-recession levels. Chinese exports are already there. We see the global economy remaining robust in the coming quarters. Our outlook for global growth in 2010 is unchanged this month at 4%-plus. In the U.S., the growth of domestic demand, in both household spending and business investment, has become distinctly more encouraging. We expect first-quarter consumer spending growth in the neighbourhood of 3%. The U.S.Fri, 26 Mar 2010 16:05:54 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-03-26.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-03-02.htmlHighlights Despite many encouraging global indicators, there is considerable unevenness among regions. In the euro zone, the recovery is on a shaky footing. However, we doubt that the European difficulties will derail the global recovery. We maintain our outlook of 2010 global GDP growth in excess of 4%. The economic news of the past month supports our 2010 U.S. growth forecast of 3.4%. Our optimism is based on a shift of support for the economy from the public to the private sector. We areTue, 02 Mar 2010 09:57:44 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-03-02.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-01-26.htmlHighlights The latest indicators show the world economy off to a robust start in 2010 and point to continuing vigour. Beijing has begun to rein in Chinese credit expansion in response to surprisingly strong growth and soaring imports and exports. Despite a disappointing December employment report, the U.S. economy is headed in the right direction. Consumers have entered a virtuous circle of deleveraging, in which a savings rate in the neighbourhood of 5% allows growth in consumer spending inTue, 26 Jan 2010 19:30:46 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2010-01-26.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2009-12-24.htmlHighlights Emerging from the worst recession in more than 60 years, the global economy will expand strongly in 2010. International trade is on the mend and the major economies are recovering in sync. Emerging Asia is shaping up as the main driver of growth in the coming year. A labour market turnaround and one of the sharpest rises in existing-home sales on record are about to move the U.S. economy into self-sustaining growth. The outlook for the coming year is broadly positive. We expect theThu, 24 Dec 2009 11:00:25 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2009-12-24.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2009-12-02.htmlHighlights The world’s leading economic indicators have gained even more momentum. Their expansion signal is now stronger than at any point in the previous economic cycle, and we are upgrading our forecast accordingly. We now expect above-trend growth next year. Despite job losses, struggling consumer confidence and the end of cash for clunkers, U.S. consumer spending is likely to expand at about 2% annualized in the fourth quarter, reflecting considerable consumer resilience in theWed, 02 Dec 2009 10:26:46 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2009-12-02.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2009-10-28.htmlHighlights The global recovery seems to be putting down roots. It is now broader-based than just a few months ago. The leading economic indicators of the OECD countries are now sending the strongest recovery signal since 2003. The global economy seems increasingly likely to expand more than 3% next year. U.S. employment is ready to start growing again. This development, with support from business investment and a probably sustainable revival in housing, can be expected to put the U.S. recoveryWed, 28 Oct 2009 11:28:01 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2009-10-28.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2009-10-06.html- The global economy continues to gather momentum. According to the Netherlands CPB bureau of economic policy analysis, world trade volume rose 3.5% in July. In emerging Asia output has already passed its pre-credit-crisis peak. The six-month change in our global composite LEI is running at 7% annualized, suggesting a very strong possibility of above-trend global growth through early 2010. - In the United States, the economic data published over the past month confirm the signals from leadingTue, 06 Oct 2009 10:02:00 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2009-10-06.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2009-08-31.htmlThe unprecedented scope of government programs put in place earlier this year to fend off the credit crisis has helped stabilize the global economy. At this juncture, we believe the ample liquidity still being provided by central banks and governments in various parts of the world will make for a sustainable recovery. The U.S. economic backdrop has improved markedly in recent months, so much so that GDP is poised to expand in the third quarter as firms start rebuilding inventories. With homeMon, 31 Aug 2009 09:56:43 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2009-08-31.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2007-06-28.htmlThe world economy continued to grow robustly in the first half of 2007. With leading indicators moderating only slightly at a time of diminishing spare capacity, central banks remain in tightening mode. Food price inflation suggests faster appreciation of the undervalued Chinese yuan and Indian rupee. Indicators available at this writing are consistent with an inventory-led rebound of U.S. GDP growth in Q2. Whether the rebound will carry into the second half of the year is uncertain. TheThu, 28 Jun 2007 10:47:06 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2007-06-28.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2007-06-22.htmlChina’s central bank stepped in on three fronts in May – raising the cost of borrowing, increasing reserve requirements for banks and widening the daily trading band for the yuan. Despite these actions, monetary conditions in China are hardly restrictive. In the U.S., lacklustre economic growth is beginning to affect employment growth, a development likely to create headwinds for consumers at a time of surging gasoline prices and a continuing housing bust. The woes of the housing market haveFri, 22 Jun 2007 10:59:08 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2007-06-22.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2007-04-26.htmlThe OECD leading economic indicator continues to signal slower GDP growth in the industrialized countries, but the cooling signal is concentrated in the United States. Outside the OECD there is generally little evidence of cooling. U.S. GDP is set to disappoint again in Q1 but the labour market nevertheless remains remarkably resilient. The flip side is sticky inflation and a significant decline in productivity growth.. As a result, we have reduced our expectation of cumulative easing in 2007Thu, 26 Apr 2007 15:03:26 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2007-04-26.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2007-03-26.htmlHighlights The global outlook remains consistent with a moderation of growth in 2007. In China, another sequence of strong economic reports has prodded the central bank to tighten another notch. After U.S. Q4 growth was revised down significantly and recent indicators remain consistent with more below-trend growth in Q1. Consumer spending in particular shows signs of deceleration. A sharp deterioration in the solvency of homeowners with subprime mortgages may be undermining the U.S. economicMon, 26 Mar 2007 09:11:47 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2007-03-26.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2007-02-23.htmlHighlights Global monetary policy firmed another notch in February as surprisingly vigorous growth in China and Japan prodded their central banks to tightened credit. After a sequence of strong reports, U.S. economic indicators have been much softer than expected in the last few weeks. Homebuilding in particular has weakened anew as lenders introduce tighter credit standards for residential mortgages It’s been a good month for Canada. Employment, housing, exports and manufacturing shipmentsFri, 23 Feb 2007 11:11:09 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2007-02-23.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2006-11-30.htmlHighlights Previous weakness in leading indicators was confirmed by tepid economic growth in Japan and the euro-zone in the third quarter. In China too, the economy is showing clearer signs of cooling in response to the numerous measures introduced by Beijing in recent months. The current shape of the yield curve in the G7 is highly suggestive of a tangible slowdown of the global economy in 2007. The U.S. economy is now clearly running below its speed limit with its first back-to-back quartersThu, 30 Nov 2006 09:49:15 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@nbc.ca (National Bank of Canada)http://www.fxstreet.com/fundamental/analysis-reports/economic-monitor/2006-11-30.html