Macrobond release notes

Bi-weekly data additions

16 - 27 January 2023

February 3, 2023
By 
Arnaud Lieugaut

Highlights

              

World

Complementing previous data additions from Drewry Shipping Consultants, we’ve just added prices for air freight from twelve international airports, including Singapore, Shanghai, Seoul, Paris, New York, Miami, Los Angeles, London, Hong Kong, Frankfurt, Chicago, and Amsterdam. Given that several routes are available for each airport, this adds up to 143 new time series. 

Air freight buy rates are defined by the source as monthly averages of rates “paid by forwarders to airlines for standard deferred airport-to-airport air freight services” for cargoes of 1,000 kilograms or more, expressed in USD per kilogram. They include three components: a base rate, a fuel surcharge and a security surcharge, while excluding “door delivery” costs.

In the chart below, we focused on freight rates from Shanghai (PVG) airport to various developed markets. We see that after two years of price pressures, buy rates decreased throughout 2022, approaching their pre-pandemic band. 

Access the chart here.

Drewry Shipping Consultants Ltd - Monthly Averages of Air Freight Buy Rates

Source & Release > World [world, Region] > Drewry Shipping Consultants Ltd > Monthly Averages of Air Freight Buy Rates [rel_drewryair, Release]

United Kingdom

We’ve added a new survey measuring consumer sentiment regarding the UK property market: the BSA Property Tracker, published by the UK Building Societies Association. More information on the methodology can be accessed here.

In the first chart below, we display the headline value for the BSA property tracker, which measures the net balance of answers to the following question: “Is it a good time to buy property?”

The net balance is now at its lowest level since 2008. Residential property values tend to follow this series with a lag of 9 months, indicating a price decline may be ahead. 

Access the chart here.

Digging deeper into this topic, we looked at another question tracked by the BSA: “How do you expect residential property prices in the UK to move over the next 12 months?”

The result is displayed in the pie chart below: close to 50% of respondents expect a drop in prices. 

Access the chart here

The BSA doesn’t just measure price expectations. Our final chart tracks perceptions of hurdles to ownership. Respondents were asked to select factors that would deter someone from buying a residential property.

We compared the most recent results with the second quarter of 2008 (the previous low point for the BSA tracker in the first chart). The top three answers for both time periods were similar: amassing a sufficient deposit, accessing mortgage credit, and the affordability of monthly repayments. Interestingly, respondents are not as concerned that prices will fall as they were in 2008. 

Access the chart here

BSA Property Tracker survey

Country & Region > United Kingdom [gb, Region] > Surveys & Leading Indicators [surv, Category] > Business Surveys > Building Societies Association > Property Tracker

Chile

We’ve expanded our dataset covering the nation’s economic activity index. Users can now access sectoral breakdowns for this monthly leading indicator.

In the chart below, we display the first breakdown level for the index, which includes goods, services and wholesale & retail trade. The trade category rebounded the most after the 2020 lockdowns, but it’s also the sector suffering the most today, down about 10 percent year-on-year. More worryingly, the other two sectors are now little changed year-on-year.  

Access the chart here

IMACEC indices by sector

Country & Region > Chile [cl, Region] > National Accounts [naac, Category] > Gross Domestic Product > Special Series > Indicator of Economic Activity IMACEC  

United States

We’ve added the Banking Conditions Survey, a dataset created by the Federal Reserve Bank of Dallas. The survey is conducted twice a quarter, and is based on a questionnaire sent to the banks and credit unions of the 11th Federal Reserve District. More information about the methodology can be found here.

In the chart below, we displayed the net balance of responses to the following question: “Over the past six weeks, how have non-performing loans changed?” Respondents assessed conditions for various types of loans. 

The chart highlights that financial institutions reported an increase in all categories of non-performing loans as conditions tightened over the course of 2022. In the second pane, we track the outlook for non-performing loans, which measures financial institutions’ expectations over the next six months.  

Access the chart here

Banking Conditions Survey

Source & Release > United States [us, Region] > Federal Reserve Bank of Dallas > Banking Conditions Survey [rel_feddbcs, Release]

Complete list

Albania

Flow of Direct Investment (Quarterly) 

Country & Region > Albania [al, Region] > Foreign Finance [fofi, Category] > Direct Investment

Australia

Employee Earnings & Hours

Country & Region > Australia [au, Region] > Income & Earnings [inea, Category] > Average Weekly Earnings > Employee Earnings & Hours

Chile

IMACEC indices by sector

Country & Region > Chile [cl, Region] > National Accounts [naac, Category] > Gross Domestic Product > Special Series > Indicator of Economic Activity IMACEC  

Internet Job Ad Index

Country & Region > Chile [cl, Region] > Labor Market [lama, Category] > Internet Job Ad Index

Euro Area

Net Stable Funding Ratio

Concept & Category > Money, Banking & Credit > ECB > Supervisory Banking Statistics > Counterpart Area: World (All Entities; Including Reference Area & IO) > Counterpart Sector: Not Applicable > Net Stable Funding Ratio

Arrears (Mortgage or Rent, Utility Bills or Hire Purchase) from 2003 Onwards - EU-SILC Survey 

Source & Release > EU [eueu, Region] > Eurostat > Extended Database > EU 27 (without United Kingdom) [eueu27_2019, Region] > Population & Social Conditions > Living Conditions & Welfare > Income & Living Conditions > Material Deprivation > Economic Strain > Arrears (Mortgage or Rent, Utility Bills or Hire Purchase)

Euro Area, Stock Levels for Oil Products

Source & Release > EU [eueu, Region] > Eurostat > Extended Database > EU 27 (without United Kingdom) [eueu27_2019, Region] > Environment & Energy > Stock Levels for Oil Products

India

Maruti Suzuki India Ltd Motor Vehicles Production Report

Equity - Fundamentals > Industry Classification - MBIC > India [in, Region] > Transportation & Logistics > Automotives > Automotive Manufacturing > Maruti Suzuki India Ltd [com_61202, Company]

Israel

Lenders' Outstanding Credit – banking system

Country & Region > Israel [il, Region] > Money, Banking & Credit [bank, Category] > Deposits & Loans > Banking System > Loans > Lenders' Outstanding Credit 

Lenders' Outstanding Credit – all sectors

Country & Region > Israel [il, Region] > Money, Banking & Credit [bank, Category] > Deposits & Loans > All Sectors > Loans > Lenders' Outstanding Credit 

Maldives

CPI (Monthly)

Country & Region > Maldives [mv, Region] > Prices [pric, Category] > Consumer Price Index  

International Reserves

Country & Region > Maldives [mv, Region] > Foreign Finance [fofi, Category] > International Reserves  

Deposit Rates

Country & Region > Maldives [mv, Region] > Interest & Exchange Rates [rate, Category] > Deposit Rates

Lending Rates

Country & Region > Maldives [mv, Region] > Interest & Exchange Rates [rate, Category] > Lending Rates

Other Rates

Country & Region > Maldives [mv, Region] > Interest & Exchange Rates [rate, Category] > Other Rates

Policy Rates

Country & Region > Maldives [mv, Region] > Interest & Exchange Rates [rate, Category] > Policy Rates  

Financial Corporations Survey

Country & Region > Maldives [mv, Region] > Money, Banking & Credit [bank, Category] > Monetary Statistics > Financial Corporations Survey

Financial Soundness Indicators

Country & Region > Maldives [mv, Region] > Money, Banking & Credit [bank, Category] > Financial Soundness Indicators

Poland

Monthly Business Climate Index

Country & Region > Poland [pl, Region] > Surveys & Leading Indicators [surv, Category] > Business Surveys > PIE/BGK

Saudi Arabia 

Merchandise Exports & Imports 

Country & Region > Saudi Arabia [sa, Region] > Trade [trad, Category] > Foreign Trade > Export & Import, Quarterly 

Sweden

Lending rates for housing

Country & Region > Sweden [se, Region] > Money, Banking & Credit [bank, Category] > Deposits & Loans > Deposit & Lending Rates > Lending Rates to Households for Housing Loans by Original Rate Fixation

Consumer Price Index – additional components year-year weights & indices

Country & Region > Sweden [se, Region] > Prices [pric, Category] > Consumer Price Index > Riksbank Classification > All Items

Switzerland

15-year government benchmark yield

Country & Region > Switzerland [ch, Region] > Interest & Exchange Rates [rate, Category] > Government Benchmarks > Swiss National Bank

United Kingdom

BSA Property Tracker survey

Country & Region > United Kingdom [gb, Region] > Surveys & Leading Indicators [surv, Category] > Business Surveys > Building Societies Association > Property Tracker

United States

Banking Conditions Survey

Source & Release > United States [us, Region] > Federal Reserve Bank of Dallas > Banking Conditions Survey [rel_feddbcs, Release]

Rent Index Differences

Country & Region > United States [us, Region] > Prices [pric, Category] > Consumer Price Index > Cleveland Rent Index Differences

World

Drewry Shipping Consultants Ltd - Monthly Averages of Air Freight Buy Rates

Source & Release > World [world, Region] > Drewry Shipping Consultants Ltd > Monthly Averages of Air Freight Buy Rates [rel_drewryair, Release]