Flash Notes
Retail sales surge in April
Consumer spending began 2Q25 on a strong note, with retail sales rising by 5.1% y/y in April-up from a revised 1.2% in March (previously 1.5%), and significantly above market expectations of a 3.1% increase.
18 June 2025
Flash Notes
April manufacturing output down by 6.3% y/y, reflecting continued challenges
10 June 2025
Flash Notes
Retail sales starting to show signs of strain
Consumer spending slowed sharply in 1Q25, with retail sales rising just 1.5% y/y in March, down from 4.1% in February (revised up from 3.9%). This was well below market expectations of a 3.1% increase, signalling that shoppers are becoming more cautious.
21 May 2025
Flash Notes
March manufacturing output down 0.8% y/y and 2.2% m/m, weighs on GDP growth
Manufacturing output (not seasonally adjusted) declined by 0.8% y/y in March, following a 3.2% y/y decline in February - marking the eighth consecutive month of annual contraction. The outturn was weaker than the Bloomberg consensus, which had forecast a 0.8% y/y increase.
23 April 2025
Flash Notes
Mining production slumps sharply in February, pointing to a weak 1Q25 GDP contribution
15 April 2025
Flash Notes
GDP growth rebounds in 4Q24, but reflects broad-based weakness in 2024
Real GDP (not seasonally adjusted) grew by 0.9% y/y in 4Q24, up from an upwardly revised 0.4% (previously 0.3%) in the previous quarter. On a seasonally adjusted (non-annualized) basis, the economy expanded by 0.6% q/q, marking a modest rebound from an upwardly revised 0.1% contraction (previously -0.3%) in 3Q24.
04 March 2025
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