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New Zealand CPI Climbs 0.7% In Q3
Consumer prices in New Zealand were up 0.7 percent on quarter in the third quarter of 2019, Statistics New Zealand said on Wednesday - surpassing expectations for an increase of 0.6 percent, which would have been unchanged from the previous three months.
Housing and household utilities rose 1.2 percent on quarter, influenced by higher prices for property rates and related services (up 4.9 percent).
Food prices rose 1.3 percent, influenced by higher prices for meat, poultry, and fish (up 3.4 percent).
On a yearly basis, consumer prices advanced 1.5 percent - again exceeding expectations for 1.4 percent and down from 1.7 percent in the three months prior.
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Australia Unemployment Data Due On Thursday
Australia will on Thursday release jobless numbers for September, highlighting a modest day for Asia-Pacific economic activity.
The unemployment rate is expected to hold steady at 5.3 percent, with the addition of 15,000 jobs following the gain of 34,700 jobs in August. The participation rate is called unchanged at 66.2 percent.
Singapore will provide September numbers for imports, exports and trade balance. In August, imports were worth SGD41.00 billion and exports were at SGD45.18 billion for a trade surplus of SGD4.18 billion.
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Chinese Data Due On Friday
China is scheduled to release a raft of data on Friday, headlining a busy day for Asia-Pacific economic activity. On tap are Q3 numbers for gross domestic product and September figures for industrial production, retail sale, fixed asset investment and unemployment.
GDP is expected to rise 1.5 percent on quarter and 6.1 percent on year, slowing from 1.6 percent on quarter and 6.2 percent on year in the three months prior.
Industrial production is tipped to add 5.0 percent on year, up from 4.4 percent in August. Retail sales are expected to add an annual 7.8 percent, up from 7.5 percent in the previous month.
Fixed asset investment is called steady at 5.5 percent, while the jobless rate is predicted to be unchanged at 5.2 percent.
Japan will see September data for nationwide consumer prices, with forecasts suggesting an increase of 0.2 percent on year - slowing from 0.3 percent in August. Core CPI is pegged at an annual 0.3 percent, down from 0.5 percent in the previous month.
Hong Kong will release unemployment numbers for September; in August, the jobless rate was 2.9 percent.
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Hong Kong Inflation Data Due On Tuesday
Hong Kong is on Tuesday scheduled to release September figures for consumer prices, highlighting an extremely light day for Asia-Pacific economic activity.
In August, inflation was up 3.5 percent on year.
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New Zealand Trade Deficit NZ$1.242 Billion In September
New Zealand posted a merchandise trade deficit of NZ$1.242 billion in September, Statistics New Zealand said on Wednesday.
That exceeded expectations for a shortfall of NZ$1.375 billion following the NZ$1.565 billion deficit in August.
Exports were up 5.1 percent on year to NZ$4.47 billion, beating forecasts for NZ$4.30 billion and up from NZ$4.13 billion in the previous month.
Imports fell an annual 2.1 percent to NZ$5.71 billion versus expectations for NZ$5.70 billion and up from NZ$5.69 billion a month earlier.
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Japan Machine Tool Order Data Due On Friday
Japan will on Friday see final September numbers for machine tool orders, highlighting a light day for Asia-Pacific economic activity. The previous reading suggested a decline of 35.5 percent on year.
Singapore will release September numbers for industrial production; in August, industrial production was down 7.5 percent on month and 8.0 percent on year.
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Tokyo Overall Inflation Steady At 0.4% On Year
Overall consumer prices in the Tokyo region of Japan were up 0.4 percent on year in October, the Ministry of Internal Affairs and Communications said on Tuesday.
That was unchanged from the September reading, although it was well shy of forecasts for an increase of 0.7 percent.
Core consumer prices, which exclude volatile food prices, rose an annual 0.5 percent. That also was unchanged and shy of expect6ations for an increase of 0.7 percent.
On a seasonally adjusted monthly basis, overall Tokyo inflation was flat and core CPI was up 0.2 percent.
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Australia Retail Sales Data On Tap For Monday
Australia will on Monday release September figures for retail sales, highlighting a modest day for Asia-Pacific economic activity.
Retail sales are expected to rise 0.4 percent on month, unchanged from the August ready. For the third quarter of 2019, sales are called higher by 0.3 percent, up from 0.2 percent in Q2.
Australia also will see October data for the job ads monitor from ANZ and the inflation forecast from TD Securities. In September, job ads were up 0.3 percent on month, while inflation was predicted to be higher by 0.1 percent on month and 1.5 percent on year.
Malaysia will provide September figures for imports, exports and trade balance. In August, imports were worth 70.43 billion ringgit and exports were at 81.36 billion ringgit for a trade surplus of 10.92 billion ringgit.
Thailand will release October figure for consumer and producer prices. In September, overall inflation was up 0.1 percent on month and 0.3 percent on year, while core CPI rose 0.1 percent on month and 0.4 percent on year. Producer prices were flat on month and down 1.9 percent on year.
Finally, the markets in Japan are closed on Monday for Culture Day and will re-open on Tuesday.
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Australia Has A$7.180 Billion Trade Surplus In September
Australia had a seasonally adjusted merchandise trade surplus of A$7.180 billion in September, the Australian Bureau of Statistics said on Thursday.
That handily exceeded forecasts for a surplus of A$5.050 billion following the upwardly revised A$6.617 billion surplus in the previous month (originally A$5.926 billion).
Exports were up A$1.452 billion or 3.0 percent on month to A$43.215 billion, while imports gained A$889 million or 3.0 percent on month to A$36.034 billion.
Net exports of goods under merchanting remained roughly steady at A$15 million.
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Japan Household Spending Jumps 9.5% On Year In September
The average of household spending in Japan was up 9.5 percent on year in real terms in September, the Ministry of Internal Affairs and Communications said on Friday - coming in at 300,609 yen.
That beat forecasts for an increase of 7.0 percent following the 1.0 percent gain in August.
The average of monthly income per household stood at 457,427 yen, down an annual 0.4 percent.
Individually, spending was up for food, housing, fuel, furniture, clothing, medical care, transportation and recreation.
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Japan Industrial Production Rises In September
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Japan's industrial production grew more than initially estimated in September, final data from the Ministry of Economy, Trade and Industry showed on Friday.
Industrial production rose 1.7 percent month-on-month in September. According to the initial estimate, production had increased 1.4 percent.
On a monthly basis, shipments gained 1.5 percent in September instead of 1.3 percent initially estimated.
Meanwhile, inventory dropped 1.4 percent compared to the initial estimate of 1.6 percent decrease and the inventory ratio fell 1.9 percent versus prior estimate of 2.4 percent drop.
On a year-on-year basis, industrial production grew 1.3 percent in September. The initial estimate showed an annual growth of 1.1 percent.
Further, data showed that capacity utilization rose 1.0 percent on month and rose 0.2 percent from a year ago.
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Japan Housing Loan Data Due On Monday
Japan is on Monday scheduled to release Q3 numbers for housing loans, highlighting a modest day for Asia-Pacific economic activity. In the three months prior, housing loans were up 2.2 percent on year.
Japan also will see October figures for condominium sales; in September, sales plummeted 30.0 percent on year.
Indonesia will release October figures for imports, exports and trade balance. In September, imports were worth $14.26 billion and exports were at $14.10 billion for a trade deficit of $160.5 million.
Singapore will provide October trade data; in September, imports were worth SGD39.48 billion and exports were at SGD43.51 billion for a trade surplus of SGD4.03 billion.
Thailand will release Q3 numbers for gross domestic product; in the three months prior, GDP was up 0.6 percent on quarter and 2.3 percent on year.
Hong Kong sill see October figures for unemployment; in September, the jobless rate was 2.9 percent.
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New Zealand Producer Price Outputs +1.0% On Quarter
Producer price outputs in New Zealand were up 1.0 percent on quarter and 1.8 percent on year in the third quarter of 2019, Statistics New Zealand said on Tuesday.
Input prices rose 0.9 percent on quarter and 2.1 percent on year, while capital goods prices advanced 0.8 percent on quarter and 2.7 percent on year.
Prices paid by farmers gained 0.9 percent on quarter and 2.2 percent on year, while salaries and wages rose 0.8 percent on quarter and 2.4 percent on year.
Prices paid by consumers were up 0.7 percent on quarter and 1.5 percent on year.
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Japan Trade Data On Tap For Wednesday
Japan will on Wednesday release October figures for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity.
Imports are expected to plummet 15.4 percent on year after dipping 1.5 percent in September. Exports are called lower by an annual 7.5 percent after falling 5.2 percent in the previous month. The trade balance is tipped to show a surplus of 301.0 billion yen following the 123.0 billion yen shortfall a month earlier.
Australia will see October results for skilled vacancies and for the leading economic index from Westpac. In September, vacancies fell 0.7 percent on month and the economic index eased 0.08 percent on month.
China will release prime rate numbers for its one-year and five-year loans. The one-year is called steady at 4.2 percent, while the five-year is expected to rise to 4.9 percent from 4.85 percent previously.
Malaysia will provide October numbers for producer prices; in September, inflation was flat on month and up 1.1 percent on year.
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Yen Off Lows Against Some Majors
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The Japanese yen came off its early lows against some of its major counterparts in late Asian deals on Friday.
The yen rose to a 2-day high 109.31 against the franc, from an early low of 109.42.
The yen recovered to 108.61 against the greenback and 81.74 against the loonie, from its early 2-day low of 108.71 and a 3-day low of 81.90, respectively. Reversing from an early low of 73.86 against the aussie, the yen bounced off to 73.70.
The next possible resistance for the yen is around 108.00 against the greenback, 107.00 against the franc, 80.00 against the loonie and 70.5 against the aussie.
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Singapore Inflation Data Due On Monday
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Singapore is on Monday scheduled to release October figures for consumer prices, highlighting a light day for Asia-Pacific economic activity.
In September, consumer prices were flat on month and up 0.5 percent on year.
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New Zealand Retail Sales Data Due On Tuesday
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New Zealand will on Tuesday release Q3 numbers for retail sales, setting the pace for a modest day in Asia-Pacific economic activity. Sales are expected to add 0.5 percent on quarter after rising 0.2 percent in the three months prior.
Japan will see October figures for producer prices, with forecasts suggesting an increase of 1.8 percent on year - up from 0.5 percent in September.
Hong Kong will release October numbers for imports, exports and trade balance. In September, imports were worth HKD379.33 billion and exports were at HKD347.69 billion for a trade deficit of HKD31.64 billion.
Singapore will provide October figures for industrial production; in September, production was up 3.7 percent on month and 0.1 percent on year.
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New Zealand Has NZ$1.0 Billion Trade Deficit In October
New Zealand had a merchandise trade deficit of NZ$1.0 billion in October, Statistics New Zealand said on Wednesday.
That was in line with expectations following the NZ$1.242 billion shortfall in September.
Imports were down 1.4 percent on year to NZ$6.0 billion - again matching forecasts after showing NZ$5.71 billion in the previous month.
Exports climbed an annual 4.3 percent to NZ$5.0 billion, in line with expectations and up from NZ$4.47 billion a month earlier.
The annual trade deficit was NZ$5.0 billion in October 2019, down from NZ$5.8 billion in the year ended October 2018.
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Australia Capex Slips 0.2% In Q3
Private capital expenditure in Australia was down a seasonally adjusted 0.2 percent on quarter in the third quarter of 2019, the Australian Bureau of Statistics said on Thursday - worth A$29.413 billion.
That missed expectations for a flat reading following the 0.6 percent drop in the three months prior.
On a yearly basis, capex sank 1.3 percent.
Capex for buildings and structures rose 2.7 percent on quarter and fell 0.3 percent on year to A$15.853 billion, while capex for equipment, plant and machinery sank 3.5 percent on quarter and 2.4 percent on year to A$13.560 billion.
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UK GfK Consumer Confidence Remains Stable In November
UK consumer sentiment remained unchanged in November, survey results from the market research group GfK showed Friday.
The consumer sentiment index held steady at -14. The score matched economists' expectations.
"In the face of Brexit and election uncertainty, consumers are clearly in a 'wait-and-see' mode," Joe Staton, client strategy director at GfK, said.
"The general election is potentially an opportunity to move us out of the doldrums - but for this to happen there must be a clear result," Staton added. "A hung parliament could be very damaging for consumer confidence and would surely deepen the obvious malaise that we see month after month."
Among sub-indices, the index measuring changes in personal finances over the last twelve months decreased one point to zero. The forecast for personal finances was unchanged at +1 in November.
The measure for the past general economic situation of the country fell one point to -34. Expectations for the general economic situation over the next 12 months gained three points to -34.
The major purchase index dropped one point to zero in November. Likewise, the savings index decreased three points to +18.
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Ireland Manufacturing Sector Deteriorates In November
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Ireland's manufacturing sector contracted in November, survey data from IHS Markit showed on Monday.
The seasonally adjusted AIB factory Purchasing Managers' Index, or PMI, fell to 49.7 in November from 50.7 in October. However, any reading below 50 indicates contraction in the sector.
Inflows of total new business increased in November but the rate of expansion eased slightly from the previous month, while export sales declined further.
Employment fell for the first time since September 2016 and stocks of finished goods increased for the sixth month in a row.
Purchasing activity fell in November for the sixth time in the past seven months amid a decline in per-production inventories.
Backlogs decreased further in November, with the rate of backlog depletion quickened from October.
Input price inflation was the sharpest in seven months, while the rate of output charge inflation eased in November.
Sentiment among manufacturers improved to the highest level in five months in November, the survey showed.
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Hong Kong PMI Continues To Tumble - IHH
Hong Kong's private sector continued to contract in November, and at a faster pace, the latest survey from IHH revealed on Wednesday with a 16-year low PMI score of 38.5.
That's down from 39.3 in October and it moves further beneath the boom-or-bust line that separates expansion from contraction.
The November reading saw the sharpest decline in business activity in survey history, while the fall in new business was the sharpest since 2008. Business confidence remained close to a record low.
Political unrest continued to disrupt the functioning of businesses, according to survey respondents.
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Australia Trade Balance Data Due On Thursday
Australia will on Thursday release October numbers for trade balance and retail sales, highlighting a modest day for Asia-Pacific economic activity.
The trade balance is expected to show a surplus of A$6.50 billion, down from A$7.180 billion in September. Retail sales are called higher by 0.3 percent, up from 0.2 percent in the previous month.
New Zealand will provide Q3 numbers for the volume of all building, with forecasts suggested to show an increase of 1.0 percent on quarter following the 1.5 percent contraction in the three months prior. South Korea will see October results for current account; in September, the surplus was $66.89 billion.
The Philippines will release November numbers for consumer prices and Q3 data for unemployment. In October, inflation was up 0.2 percent on month and 0.8 percent on year, while core CPI was up 2.6 percent on year. The jobless rate in Q2 was 5.4 percent, with a participation rate of 62.1 percent.
Finally, the markets in Thailand are closed on Thursday in observance of late king Bhumibol's birthday and will re-open on Friday.
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Dollar Exhibits Weakness Against Most Rivals
The U.S. dollar was mostly subdued against major currencies on Thursday, amid a slew of economic data from across the globe and as traders awaited the outcome of the OPEC meet in Vienna.
Conflicting reports on U.S.-China trade front weighed as well on the U.S. currency.
Data from the Commerce Department showed U.S. trade deficit narrowed to $47.2 billion in October from a revised $51.1 billion in September. Economists had expected the trade deficit to narrow to $48.7 billion from the $52.5 billion originally reported for the previous month.
The lower deficit was due to a 1.7% drop in imports at $254.3 billion. Exports were down 0.2% to $207.1 billion in October.
Another report from the Commerce Department said new orders for U.S. manufactured goods increased in line with economist estimates in the month of October, rising by 0.3% after falling by a revised 0.8% in September.
The dollar index opened at 97.59 and eased to a low of 97.36 a little past noon. It edged up to 97.44 subsequently but dropped to 97.39 later on, losing about 0.28%.
Against the Euro, the dollar was down at $1.1106, retreating from $1.1078.
The Eurozone economy grew as initially estimated in the third quarter, revised data from Eurostat showed. Gross domestic product grew 0.2% from the second quarter, when the economy expanded at the same rate.
On a yearly basis, GDP growth came in at 1.2%, in line with the previous estimate and the second quarter growth.
The pound sterling was stronger by more than 0.4% with a unit of sterling fetching $1.3163, as against $1.3098 earlier in the session.
Against the Japanese Yen, the dollar was stronger at 108.79, compared to previous close of 108.65 yen a dollar.
The loonie was up notably with the dollar-loonie pair at 1.3175. Canada's trade deficit narrowed to C$1.08 billion in October 2019 from an upwardly revised C$ 1.23 billion in September. Economists had expected a trade deficit of C$1.37 billion.
Against the Aussie, the dollar was gaining in strength with the pair trading at 0.6835.
The Swiss franc was up 0.1% against the dollar, with the dollar-franc pair at 0.9875.
Traders were also reacting to news that House Speaker Nancy Pelosi, D-Calif., has asked the chairmen of the House committees investigating President Donald Trump to proceed with articles of impeachment.
Pelosi accused Trump of abusing his power for his own benefit by withholding military aid from Ukraine in exchange for an announcement of an investigation into his political rival, former Vice President Joe Biden.
On the trade front, a Wall Street Journal report indicates the U.S. and China are at odds over the size of Chinese agricultural purchases.
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Japan GDP Revised To 1.8% In Q3
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Japan's gross domestic product was bumped all the way up to a seasonally adjusted annualized 1.6 percent in the third quarter of 2019, the Cabinet Office said in Monday's revision.
That was a sharp upward move from the 0.2 percent gain originally reported last month for Q3.
On a seasonally adjusted quarterly basis, GDP was moved up to 0.4 percent from 0.1 percent in the preliminary reading.
Nominal GDP was knocked up to 0.6 percent on quarter from 0.3 percent, while the GDP deflator was unrevised at 0.6 percent.
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Australia House Prices Climb 2.4% In Q3
Residential property prices in Australia were up 2.4 percent on quarter in the third quarter of 2019, the Australian Bureau of Statistics said on Tuesday.
That beat expectations for an increase of 1.5 percent following the 0.7 percent decline in the second quarter.
On a yearly basis, house prices fell 3.7 percent - again topping forecasts for a decline of 4.6 percent following the 7.4 percent tumble in the three months prior.
House prices were up in Sydney (+3.6 percent), Melbourne (+3.6 percent), Brisbane (+0.7 percent) and Hobart (+1.3 percent), and fell in Perth (-1.2 percent), Adelaide (-0.3 percent), Canberra (-0.5 percent) and Darwin (-1.2 percent) this quarter.
Prices fell in Darwin (-5.4 percent), Sydney (-4.6 percent), Perth (-4.6 percent), Melbourne (-3.5 percent), Brisbane (-2.6 percent), Canberra (-1.4 percent) and Adelaide (-1.0 percent), and rose in Hobart (+2.1 percent) over the last twelve months.
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Japan Core Machine Orders Tumble 6.0% In October
The total value of core machine orders in Japan was down a seasonally adjusted 6.0 percent on month in October, the Cabinet Office said on Thursday - coming in at 798.8 billion yen.
That missed forecasts for an increase of 0.7 percent following the 2.9 percent decline in September.
On a yearly basis, core machine orders sank 6.1 percent - again missing expectations for a drop of 1.9 percent following the 5.1 percent jump in the previous month.
The total value of machinery orders received by 280 manufacturers operating in Japan increased by 5.2 percent on month in October.
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Australia Home Loans Rise 2.0% In October
The total number of home loans issued in Australia was up a seasonally adjusted 2.0 percent on month in October, the Australian Bureau of Statistics said on Tuesday - worth A$18.21 billion.
Loans for owner occupied housing rose 2.2 percent to A$13.11 billion, while investment loans gained 1.4 percent to A$5.10 billion.
On a yearly basis, overall loans gained 0.9 percent, while owner occupied loans jumped 5.7 percent and investment loans dropped 9.7 percent. Personal fixed term loans were up 3.1 percent on month and down 9.4 percent on year to A$1.73 billion.
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Euro Mixed Following German PPI
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After the release of German producer price index at 2.00 am ET Wednesday, the euro traded mixed against its major rivals. While the euro fell against the pound, it changed little against the rest of major counterparts.
The euro was trading at 1.1138 against the greenback, 121.90 against the yen, 1.0926 against the franc and 0.8490 against the pound around 2:02 am ET.
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Australia Jobless Rate Falls To 5.2% In November
The unemployment rate in Australia came in at a seasonally adjusted 5.2 percent in November, the Australian Bureau of Statistics said on Thursday.
That was beneath expectations for 5.3 percent, which would have been unchanged from the October reading.
The Australian economy added 39,900 jobs last month to 12,954,400, blowing away expectations for an increase of 15,000 jobs following the loss of 19,000 jobs a month earlier.
Full-time employment increased by 4,200 to 8,837,300 people and part-time employment increased by 35,700 to 4,117,200 people.
The participation rate remained steady at 66.0 percent.
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Australia Construction Sector Sinks Deeper Into Contraction
The construction sector in Australia continued to contract in December, and at a faster rate, the latest survey from the Australian Industry Group revealed on Wednesday with a six-and-a-half-year low PMI score of 38.9.
That's down from 40 in November and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Overall activity, new orders and supplier deliveries all grew substantially weaker to fuel the overall index decline.
"Australia's construction sector ended 2019 on a low note with activity, employment and new orders all falling in December. The performance of the engineering construction sector slumped further, declining at the most precipitous rate in more than a decade. Commercial construction and apartment building activity also ended the year heading lower," Ai Group Head of Policy Peter Burn said.
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China Inflation Data Due On Thursday
China will on Thursday release December numbers for consumer and producer prices, highlighting a busy day for Asia-Pacific economic activity.
Consumer prices are expected to rise 4.7 percent on year, up from 4.5 percent in November. Producer prices are called lower by an annual 0.4 percent after sliding 1.4 percent in the previous month.
China also will see new loan data for December, with forecasts suggesting a total of 1,250 billion yuan - down from 1,390.0 billion in November.
Australia will provide November numbers for trade balance, with forecasts suggesting a surplus of A$4.10 billion - down from A$4.502 billion in October. Imports were worth A$36.25 billion and exports were at A$40.75 billion in October.
New Zealand will see December figures for the commodity price index from ANZ; in November, the index was up 4.3 percent.
The Philippines will provide November numbers for imports, exports and trade balance. In October, imports were worth $9.57 billion and exports were at $6.32 billion for a trade deficit of $3.25 billion.
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Japan Leading Index Data Due On Friday
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Japan will on Friday see preliminary November numbers for its leading and coincident indexes, highlighting a modest day for Asia-Pacific economic activity.
The leading index is tipped to show a score of 90.9, down from 91.6 in October. The coincident is pegged at 95.2, down barely from 92.3 in the previous month.
Japan also will see November figures for household spending, with forecasts suggesting a decline of 2.0 percent on year following the 5.1 percent decline a month earlier.
Australia will provide November numbers for retail sales, with forecasts calling for a gain of 0.4 percent on month following the flat reading in October.
Malaysia will release November data for industrial and manufacturing production; in October, they were up an annual 0.3 percent and 2.2 percent, respectively.
Singapore will provide November numbers for retail sales; in October, sales were down 2.2 percent on month and 4.3 percent on year.
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Malaysia Jobless Rate Steady In November
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Malaysia's unemployment rate remained stable in November, data from the Department of Statistics showed on Monday.
The jobless rate was 3.2 percent in November, the same as seen in October. In the same period last year, the unemployment rate was 3.3 percent.
On a seasonally adjusted basis, jobless rate rose marginally to 3.3 percent in November from 3.2 percent in October.
The number of unemployed increased to 513,900 in November from 512,100 in the previous month.
The number of employed increased to 15.31 million in November from 15.26 million in the prior month.
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New Zealand Building Permits Sink 8.5% In November
The total number of building permits issued in New Zealand tumbled a seasonally adjusted 8.5 percent on month in November, Statistics New Zealand said on Tuesday - standing at 3,204.
That followed the downwardly revised 1.3 percent decline in October (originally -1.1 percent).
Individually, permits were issued for 1,980 stand-alone houses, 722 townhouses, 291 apartments and 211 retirement village units.
In the year ended November 2019, the actual number of new dwellings consented was 37,010, up 13 percent from the November 2018 year.
The annual value of non-residential building work consented was NZ$7.4 billion, up 4.9 percent from the November 2018 year.
By region, the numbers of new dwellings consented in the year ended November 2019 (compared with the November 2018 year) were: 14,866 in Auckland - up 16 percent; 4,176 in Waikato - up 13 percent; 3,036 in Wellington - up 11 percent; 5,849 in rest of North Island - up 6.9 percent; 5,310 in Canterbury - up 14 percent; and 3,772 in rest of South Island - up 10 percent.
In the year ended November 2019, non-residential building consents totaled NZ$7.4 billion, up 4.9 percent from the November 2018 year.
In the November 2019 year, the non-residential building types with the highest values were: education buildings - NZ$1.0 billion (down 1.5 percent); shops, restaurants, and bars - NZ$1.0 billion (down 5.4 percent); and offices, administration, and public transport buildings - NZ$981 million (up 6.3 percent).
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Japan Core Machine Orders Surge 18.0% In November
Core machine orders in Japan jumped a seasonally adjusted 18.0 percent on month, the Cabinet Office said on Thursday - coming in at 942.7 billion yen.
That blew past expectations for an increase of 2.9 percent following the 6.0 percent slide in October.
On a yearly basis, core machine orders climbed 5.3 percent - again exceeding expectations for a decline of 5.3 percent following the 6.1 percent fall in the previous month.
Manufacturing orders rose 0.6 percent on month and lost 12.8 percent on year, while non-manufacturing orders surged 27.8 percent on month and 22.5 percent on year. Government orders dropped 8.7 percent on month and gained 0.2 percent on year.
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New Zealand Manufacturing PMI Slips Into Contraction
The manufacturing sector in New Zealand fell into contraction ion December, the latest survey from BuzinessNZ showed on Friday with a PMI score of 49.3.
That's down from the downwardly revised 51.2 reading in November (originally 51.4) and it slips beneath the boom-or-bust line of 50 that separates expansion from contraction.
This was a second consecutive decrease in activity, and the lowest result since September.
Among the individual components, production and employment continued to contract, while new orders and deliveries remained in expansion but at a slower pace. Only finished stocks picked up steam.
"The December result was disappointing," BNZ Senior Economist, Craig Ebert said. "After a couple of months flirting with positivity, the PMI dipped back just below the breakeven line again."
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Economic Calendar Is A Blank Slate On Monday
There's no economic data on the slate for Monday, with most countries in the Asia-Pacific region celebrating the lunar New Year holiday.
Most of the regional stock are also closed for the holiday, including South Korea, Malaysia, Singapore, Taiwan, China, Hong Kong and Indonesia, among others.
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China Manufacturing PMI 50.0 In January
The manufacturing sector in China fell into stagnation in January, the latest survey from the National Bureau of Statistics said on Friday - posting a manufacturing PMI score of 50.0.
That's down from 50.2 in December, and it now sits right on the line that separates expansion from contraction. It matched expectations.
The bureau also said its non-manufacturing index came in with a score of 54.1, beating forecasts for 53.0 and up from 53.5 in the previous month.
The bureau's composite index now sits at 53.0, down from 53.4 a month earlier.
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Euro Mixed Ahead Of German Factory Orders
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At 2.00 am ET Thursday, Destatis is scheduled to issue Germany's factory orders for December. Orders are forecast to climb 0.6 percent on month, reversing a 1.3 percent drop in November.
Ahead of the data, the euro traded mixed against its major rivals. While the euro rose against the franc, it held steady against the rest of major rivals. The euro was worth 1.1000 against the greenback, 120.90 against the yen, 1.0713 against the franc and 0.8471 against the pound as of 1:55 am ET.
