Core CPI rose by 0.145% m-o-m, in line with consensus estimates. Over the past three months, the core CPI has increased by 1.8% annualised, a lower reading than over the preceding three months of 2.1% (see chart hereunder). US Core CPI: % Change Year-on-year core inflation stabilised at 2.2% in December (before rounding, it actually […]
Has something changed in the way the euro area crisis is perceived? Despite the downgrade of nine euro area countries (see illustration hereunder), which resulted in the EFSF losing its AAA rating, and the threat of a spiral of downgrade and defaults, markets have remained positive. The upbeat mood seen since the beginning of the […]
In the early days of 2012, the Swiss National Bank (SNB) came under the spotlight again. This time, however, it was not because of its currency interventions but because of its (now) former head, Philipp Hildebrand. Indeed, Mr Hildebrand had to resign after his wife bought US dollars a couple of days before the SNB, […]
This week took place in Geneva our Perspectives events with Yves Bonzon and Christophe Donay presenting Pictet’s views for 2012. Please find below the slides (in French) they used for their presentations. Perspectives – Janvier 2012 – Y. Bonzon Perspectives – Janvier 2012 – Ch. Donay
Today’s nominal retail sales figures for December and the revised statistics for the two prior months show that for the whole of Q4, retail sales increased by a strong 7.9% q-o-q annualised, following a 4.7% rise in Q3. For December only however, nominal retail sales rose by a disappointing 0.1% m-o-m, below consensus expectations (+0.3%). […]
Non-farm payroll employment increased by a strong 200,000 m-o-m in December, above consensus expectations of an increase of 155,000. Net revisions for October and November cumulated to an only marginally negative -8,000. Non-Farm Employment: Month-on-Month Change (in thousands) As this monthly statistic is often very volatile (see chart above) and 100,000 jobs represent less than […]
The Institute of Supply Management (ISM), which tracks the amount of manufacturing activity, published an encouraging survey today, suggesting that the recent pick up in economic growth continued toward the end of last year. The ISM manufacturing index bounced back further to 53.9 in December, up from 52.7 in November and 50.8 in October (see […]
Pictet was portrayed recently in NZZ am Sonntag (Neue Zurcher Zeitung) as part of a series on the Swiss business dynasties. This article presents the history of the bank, an interview with Jacques de Saussure (our senior partner) and highlights Pictet’s unique set of values and client focused culture. > English version > French version […]
Eurozone statistics are likely to continue to deteriorate probably until mid-Q1 due to the traditional lag between surveys and activity, even if the recent stabilisation in surveys is confirmed in the following months. As a result, we maintain our forecast of a contraction of 0.1% on average for 2012 for the whole euro area. Nevertheless, […]
As the holiday season is starting, we are happy to present the views from Filipe Santos on Social Entrepreneurship, a trend gaining importance in times of fiscal austerity. Filipe Santos is Associate Professor of Entrepreneurship at INSEAD. He is the director for the Maag International Centre for Entrepreneurship and the academic director of the INSEAD Social […]
here and you will be redirected to our Group
website, where you will find some of our content.
For more information about our website data protection policy, please click on the following link:
of cookies for the above purposes.