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Japan Leading Index Data Due On Friday
Japan is on Friday scheduled to release preliminary December figures 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 91.3, up from 90.8 in November. The coincident is called steady at 94.7.
Japan also will see December figures for household spending and labor cash earnings. Household spending is tipped to fall 1.6 percent on year after sliding 2.0 percent in November. Labor cash earnings are called lower by an annual 0.1 percent after easing 0.2 percent a month earlier.
Australia will see January results for the Performance of Service Index from the Australian Industry Group; in December, the index score was 48.7.
Malaysia will release December numbers for industrial and manufacturing production; in November, they were up an annual 2.0 percent and 2.5 percent, respectively.
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Australia Home Loan Data Due On Tuesday
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Australia will on Tuesday release December numbers for new home loans, setting the pace for a modest day in Asia-Pacific economic activity.
Loans are expected to rise 1.6 percent on month, slowing from 1.8 percent in November. Investment lending is also seen higher by 1.6 percent on month, down from 2.2 percent in the previous month.
Australia also will see January results for the indexes of business confidence and conditions from NAB; in December, their scores were -2 and +3, respectively.
Finally, the markets in Japan are closed on Tuesday in observance of National Day and will reopen on Wednesday.
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New Zealand Food Prices Rise 0.6% On Month In January
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Food prices in New Zealand were up a seasonally adjusted 0.6 percent on month in January, Statistics New Zealand said on Friday.
Unadjusted, food prices gained 2.1 percent.
On a monthly basis, fruit and vegetable prices rose 3.7 percent (down 0.3 percent after seasonal adjustment); while meat, poultry, and fish prices rose 2.3 percent; grocery food prices rose 2.4 percent (up 1.3 percent after seasonal adjustment); non-alcoholic beverage prices rose 3.9 percent; and restaurant meals and ready-to-eat food prices rose 0.2 percent.
On a yearly basis, food prices were up 3.56 percent in January.
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Japan GDP Falls 6.3% On Year In Q4
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Japan's gross domestic product was down an annualized 6.3 percent in the fourth quarter of 2019, the Cabinet Office said in Monday's preliminary report.
That was well shy of expectations for a decline 3.8 percent following the 0.5 percent increase in the three months prior.
On a seasonally adjusted quarterly basis, GDP sank 1.6 percent - again missing forecasts for a decline of 1.0 percent following the 0.1 percent gain in the third quarter.
Nominal GDP was down 1.2 percent on quarter, missing expectations for a drop of 0.6 percent after gaining 0.6 percent in the previous three months.
The GDP deflator was up 1.3 percent on year in Q4, the Cabinet Office said - exceeding expectations for an increase of 1.1 percent and up from 0.6 percent in the three months prior.
Business spending skidded 3.7 percent on quarter, missing forecasts for a decline of 1.6 percent following the 0.5 percent increase in the third quarter.
Private consumption sank 2.9 percent on quarter, missing forecasts for a drop of 2.0 percent following the 0.5 percent gain in the previous three months.
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Japan Data On Tap For Wednesday
Japan is scheduled to release December numbers for core machine orders and January trade data, highlighting a modest day for Asia-Pacific economic activity.
Machine orders are expected to fall 8.9 percent on month and 1.3 percent on year after jumping 18.0 percent on month and 5.3 percent on year in November.
Imports are tipped to fall 2.0 percent on year after sinking 4.9 percent in December. Exports are called lower by an annual 7.0 percent after sliding 6.3 percent in the previous month. The trade deficit is pegged at 1,684.8 billion yen following the 152.5 billion yen shortfall a month earlier.
Australia will see January results for the Westpac leading index and for skilled vacancies, as well as Q4 numbers for wage prices.
In December, the leading index added 0.1 percent on month and vacancies rose 0.6 percent on month. Wage prices are called steady at 0.5 percent on quarter and 2.2 percent on year.
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Australia January Unemployment Rate Rises To 5.3%
The jobless rate in Australia came in at a seasonally adjusted 5.3 percent in January, the Australian Bureau of Statistics said on Thursday.
That exceeded expectations for 5.2 percent and was up from 5.1 percent in December.
The Australian economy added 13.500 jobs last month to 12,995,400 people, again surpassing forecasts for a gain of 10,000 jobs following the gain of 28,900 jobs in the previous month.
Full-time employment increased by 46,200 to 8,882,200 people and part-time employment decreased by 32,700 to 4,113,300 people.
Unemployment increased by 31,000 to 725,900 people.
The participation rate was 66.1 percent, exceeding expectations for 66.0 percent - which would have been unchanged from the month prior.
Monthly hours worked in all jobs decreased by 8.1 million hours to 1,781.8 million hours.
The monthly seasonally adjusted underemployment rate increased by 0.3 pts to 8.6 percent. The monthly underutilization rate increased by 0.5 pts to 13.9 percent.
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German Business Confidence Improves In February
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Germany's business confidence improved in February, reports said citing survey data from the ifo institute on Monday.
The business climate index rose to 96.1 in February from 96.0 in the previous month. The score was above the forecast of 95.3.
The assessment of current situation weakened from last month, while expectations improved in February.
The current conditions index came in at 98.9 in February versus consensus of 98.6. At the same time, the expectations index rose to 93.4 compared to economists' forecast of 92.1.
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Australia Construction Work Data Due On Wednesday
Australia will on Wednesday release Q4 numbers for construction work done, highlighting a light day for Asia-Pacific economic activity. Construction work is expected to fall 1.0 percent on quarter after losing 0.4 percent in the three months prior.
Japan will provide January figures for supermarket sales; in December, sales were down 3.3 percent on year.
Singapore will see January data for industrial production; in December, industrial production was up 4.1 percent on month and down 0.7 percent on year.
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New Zealand Trade Deficit NZ$340 Million In January
New Zealand posted a merchandise trade deficit of NZ$340 million in January, Statistics New Zealand said on Thursday.
That beat expectations for a shortfall of NZ$549 million following the NZ$547 million surplus in December.
Exports climbed an annual 8.8 percent or NZ$382 million in January to NZ$4.73 billion, exceeding forecasts for NZ$4.44 billion after coming in at NZ$5.54 billion a month earlier.
The leading contributor to the rise was exports of meat and edible offal, up NZ$187 million (31 percent) to NZ$800 million. Milk powder, butter, and cheese rose NZ$115 million (7.7 percent) to NZ$1.6 billion.
Exports to China were up NZ$302 million (31 percent) to NZ$1.3 billion, led by a rise in milk powder, butter, and cheese (up NZ$143 million); beef (up NZ$77 million); and logs, wood, and wood articles (up NZ$32 million).
Exports to the United States were up NZ$69 million (16 percent) to NZ$489 million. The rise was led by casein and caseinates (up NZ$23 million) and beef (up NZ$24 million).
Imports were down 4.0 percent on year or NZ$212 million to NZ$5.07 billion versus expectations for NZ$5.00 billion, which would have been roughly unchanged from the previous month.
This fall was led by vehicles, parts, and accessories, down NZ$116 million (17 percent) to NZ$591 million. Fertilizers also fell NZ$51 million (48 percent) to NZ$57 million.
On an annual basis, goods exports rose NZ$3.0 billion (5.2 percent) to NZ$60.3 billion, marking the first time it has reached NZ$60 billion. Goods imports rose NZ$400 million (0.6 percent) to NZ$64.2 billion. The annual trade balance was a deficit of NZ$3.9 billion.
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Japan Household Spending Sinks 3.9% On Year In January
The average of household spending in Japan was down 3.9 percent on year in January, the Ministry of Internal Affairs and Communications said on Friday - coming in at 287,173 yen.
That was in line with expectations following the 4.8 percent decline in December.
The average of monthly income per household stood at 484,697 yen, up an annual 2.1 percent.
Individually, spending was down for food, housing, fuel, furniture, clothing, medical care, communication, education and recreation.
Disposable income was up 2.3 percent and consumption expenditures fell 4.9 percent.
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Japan Has Y612.3 Billion Current Account Surplus
Japan had a current account surplus of 612.3 billion yen in January, the ministry of Finance said on Monday - up 6.6 percent on year.
That was shy of expectations for 623.5 billion yen and up from 524.0 billion yen in December.
The trade balance reflected a deficit of 985.1 billion yen - also missing forecasts for a shortfall of 962.0 billion yen following the 120.7 billion yen surplus in the previous month.
The adjusted current account saw a surplus of 1,626.8 billion yen, shy of forecasts for 1,664.1 billion yen and down from 1,852.0 billion yen a month earlier.
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New Zealand Manufacturing PMI Climbs To 53.2 - BusinessNZ
The manufacturing sector in New Zealand turned to expansion for the first time in three months, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 53.2.
That's up from 49.8 in January, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, production, deliveries, finished stocks, employment and new orders all were in expansion territory - although the main focus will be on the coming months and the effect of Covid-19.
"Looking at comments from respondents, there was a noticeable increase in Covid-19 being mentioned, either directly or through the impact on shipping from China," said Catherine Beard, BusinessNZ's executive director for manufacturing. "Even those who made positive comments tempered it with concerns about the months ahead."
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Italy Industrial Orders Rise For Second Month
Italy's industrial orders rose for the second straight month in January, figures from Istat showed on Wednesday.
The seasonally adjusted industrial orders rose 1.2 percent in January, slower than 1.3 percent in December.
Orders from the domestic market rose 3.7 percent and those from the foreign market increase 9.1 percent.
On an annual basis, industrial orders fell 1.8 percent in January, after a 5.7 percent rise in the preceding month.
Data also showed that the industrial sales grew 5.3 percent month-on-month in January, after a 2.8 percent fall in the previous month. Economists had expected a 0.1 percent decline.
On a year-on-year basis, industrial sales rose 3.8 percent in January, after a 1.5 percent decrease in the prior month. Economists had expected a 0.9 percent fall.
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Malaysia Inflation Slows In February
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Malaysia's consumer price inflation slowed in February, figures from the Department of Statistics showed on Wednesday.
The consumer price index rose 1.3 percent year-on-year in February, after a 1.6 percent increase in January. Economists had expected a 1.4 percent rise.
Among the main groups, prices for miscellaneous goods and services grew 2.5 percent annually in February. Prices for transport rose 2.4 percent and those of housing, water, electricity, gas and other fuels, and communication increased 1.6 percent and 1.5 percent, respectively.
On a month-on-month basis, consumer prices remained unchanged in February.
The core CPI rose 1.3 percent annually in February.
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Tokyo Overall Inflation Gains 0.4% On Year In March
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Overall consumer prices in the Tokyo region of Japan were up 0.4 percent on year in March, the Ministry of Communications and Internal Affairs said on Friday.
That exceeded expectations for an increase of 0.3 percent and was unchanged from the February reading.
Core CPI, which excludes volatile food prices, also advanced an annual 0.4 percent. That was in line with expectations and down from 0.5 percent in the previous month.
On a seasonally adjusted monthly basis, overall inflation was up 0.1 percent and core CPI was unchanged.
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China Manufacturing PMI 52.0 In March
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The manufacturing sector in China moved back into expansion in March, the latest survey from the National Bureau of Statistics said on Tuesday with a manufacturing PMI score of 52.0 - beating forecasts for 45.0.
That's up sharply from 35.7 in February, and it moves back above the boom-or-bust line of 50 that separates expansion from contraction.
The non-manufacturing PMI came in at 52.3, also exceeding expectations for 42.0 and up from 29.6 in the previous month.
The composite PMI posted a score of 53.0, up from 28.9 a month prior.
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Contraction Accelerates For Vietnam Manufacturing Sector
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The manufacturing sector in Vietnam continued to contract in March, and at a faster rate, the latest survey from IHS Markit revealed on Wednesday with a manufacturing PMI score of 41.9.
That's down from 49.0 in February and it slips further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, last month saw the sharpest declines in output, new orders and employment in survey history. Business confidence tumbled, while firms scaled back purchasing and inventory holdings.
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South Korea Inflation Data Due On Thursday
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South Korea will on Thursday release March numbers for consumer prices, highlighting a modest day for Asia-Pacific economic activity. In February, overall inflation was flat on month and up 1.1 percent on year, while core CPI added 0.1 percent on month and gained 0.5 percent on year.
Japan will provide March figures for monetary base; in February, the monetary base climbed 3.6 percent on year.
Australia will see February figures for job vacancies; in January, vacancies were up 1.6 percent on month.
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Singapore Retail Sales Decrease In February
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Singapore retail sales decline at the fastest pace in February, data from the Department of Statistics showed on Friday.
Retail sales declined 8.6 percent year-on-year in February, following a 5.3 percent fall in January.
Motor vehicle sales rose 1.3 percent annually in February, following a 33.6 percent fall in the previous month.
Excluding motor vehicles, retail sales decreased 10.2 percent in February, after a 0.6 percent increase in the preceding month.
Sales of wearing apparel and footwear declined the most by 41.0 percent in February and those of food and alcohol, and department stores decreased 40.5 percent and 36.3 percent, respectively.
On a monthly basis, retail sales dropped 8.9 percent in February, after a 0.2 percent rise in the prior month.
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Australia Inflation Forecast Due On Monday
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Australia will on Monday see the March inflation forecast from TD Securities, highlighting a light day for Asia-Pacific economic activity. In February, the forecast suggested a decline of 0.1 percent on month and an increase of 1.6 percent on year.
Australia also will see March data on job advertisements from ANZ; in February, job ads were up 0.7 percent on month.
New Zealand will see March figures for commodity prices from ANZ; in February, prices were down 2.1 percent on month.
Finally the markets in China and Thailand are closed on Monday for the Qingming Festival and Chakri Day, respectively; they will re-open on Tuesday.
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Estonia Inflation Eases In March
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Estonia's consumer price inflation eased in March, data from Statistics Estonia showed on Monday.
The consumer price index rose 0.9 percent year-on-year in March, after a 2.0 percent increase in February. In January, inflation was 1.6 percent.
Inflation was mainly affected the most by more expensive food and non-alcoholic beverages. Electricity were cheaper, while petrol and diesel fuel were more expensive, the agency reported.
On a monthly basis, consumer prices dropped 0.7 percent in March, after a 0.5 percent rise in the previous month.
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Estonia Inflation Eases In March
Estonia's consumer price inflation eased in March, data from Statistics Estonia showed on Monday.
The consumer price index rose 0.9 percent year-on-year in March, after a 2.0 percent increase in February. In January, inflation was 1.6 percent.
Inflation was mainly affected the most by more expensive food and non-alcoholic beverages. Electricity were cheaper, while petrol and diesel fuel were more expensive, the agency reported.
On a monthly basis, consumer prices dropped 0.7 percent in March, after a 0.5 percent rise in the previous month.
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S&P Lowers Australia's Rating Outlook To Negative
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S&P Global Ratings revised the outlook on Australia's rating outlook to negative from stable as coronavirus, or COVID-19, outbreak weakened its fiscal outlook.
The rating agency said the negative outlook reflects a substantial deterioration of Australia's fiscal headroom at the 'AAA' rating level.
The outbreak of coronavirus has posed a severe economic and fiscal shock. The Australian economy is set to plunge into recession for the first time in almost 30 years, causing a substantial deterioration of the government's fiscal headroom at the 'AAA' rating level.
Nonetheless, the ratings were affirmed at 'AAA'. S&P observed that the triple A rating on Australia benefit from the country's strong institutional settings, its wealthy economy, and monetary policy flexibility.
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Malaysia Industrial Production Rises In February
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Malaysia's industrial production grew at a faster-than-expected pace in February, data from the Department of Statistics showed on Monday.
Industrial production rose 5.8 percent year-on-year in February, following a 0.6 percent increase in January. Economists had expected a 0.7 percent rise.
Manufacturing output grew 5.6 percent in February, following a 2.2 percent rise in the previous month.
Among other sectors, mining and quarrying output increased 6.1 percent and electricity output rose 6.8 percent.
Sales of textile, wearing apparels, leather and footwear gained 6.7 percent and those of petroleum, chemical, rubber and plastic, and wood, furniture, paper products and printing grew by 6.3 percent, each.
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Malaysia Jobless Rate Rises In February
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Malaysia's unemployment rate rose in February, data from the Department of Statistics showed on Tuesday.
The jobless rate rose to 3.3 percent in February from 3.2 percent in January. A similar rate of unemployment was seen in the same month last year.
On a seasonally adjusted basis, jobless rate rose marginally to 3.3 percent in February from 3.2 percent in the previous month.
The number of unemployed increased to 525,200 in February from 511,700 in the previous month.
The number of employed increased to 15.34 million in February from 15.31 million in the prior month.
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Australia Consumer Sentiment Logs Record Fall
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Australia's consumer confidence declined the most on record in April after the coronavirus outbreak evolved from serious concern to full-blown pandemic, survey data from Westpac showed on Wednesday.
The Westpac-Melbourne Institute Index of Consumer Sentiment plunged 17.7 percent to 75.6 in April from 91.9 in March.
This was the biggest monthly decrease in forty seven year history of the survey, taking the indicator beyond the global financial crisis lows.
The survey reflects the large shocks to jobs and spending. Moreover, there was a collapse in confidence in the housing market.
All five component sub-indexes fell in April. The biggest falls were in the near term outlook for the economy and in attitudes towards spending - reflecting the immediate effects of the shut-down, Westpac noted.
The indicator measuring past family finances decreased 14.8 percent to an eight-year low of 70.4 and the outlook for family finances slid 6.6 percent to 90.9.
The 'economy, next 12 months' sub-index logged a record fall of 31 percent to 53.7 in April. At the same time, the index measuring the outlook for long-term, say five years, dropped moderately by 3.8 percent to 87.0 in April.
Further, the 'time to buy a major household item' plunged 31.6 percent to 76.2 in April. This was the lowest reading since the record low of 71 set in October 2008.
The Westpac-Melbourne Institute Unemployment Expectations Index jumped 8.2 percent in April following the sharp 8.5 percent increase in March. At 158.1, the index was at a five year high. RSS feed
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UK Retail Sales Decline At Record Pace: BRC
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British retail sales declined at a record pace in March due to measures taken to fight the spread of coronavirus, data from the British Retail Consortium, or BRC, showed Thursday. According to BRC-KPMG retail sales monitor, retail sales decreased 4.3 percent on a yearly basis in March, the sharpest fall since records began in 1995.
At the same time, like-for-like sales declined 3.5 percent from the same period last year.
"The headline figure masked even more dramatic swings: food and essentials faced an unprecedented surge in demand in the early part of March, only to drop significantly into negative growth after the lockdown and introduction of social distancing in stores," Helen Dickinson, chief executive at BRC, said.
The closure of non-essential shops led to deserted high streets and high double-digit declines in sales, which even a rise in online shopping could not compensate for, Dickinson added.
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China GDP Contracts 9.8% In Q21
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China's gross domestic product was down a seasonally adjusted 9.8 percent on quarter in the first quarter of 2020, the National Bureau of Statistics said on Friday.
That was in line with expectations following the 1.5 percent gain in the three months prior.
On a yearly basis, GDP sank 6.8 percent - missing expectations for a drop of 6.0 percent following the 6.0 percent increase in the previous three months.
The bureau also said that fixed asset investment tumbled an annual 16.1 percent in March, shy of forecasts for a decline of 15.0 percent following the 24.5 percent plunge in February.
Industrial production dipped 1.1 percent on year, beating forecasts for a fall of 5.8 percent after dropping 13.5 percent in the previous month.
Retail sales plunged 15.8 percent on year, missing forecasts for a fall of 10.0 percent after skidding 20.5 percent a month earlier.
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European Economics Preview: German ZEW Economic Confidence Due
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Economic confidence survey results from Germany and labor market statistics from the UK are due on Tuesday, headlining a busy day for the European economic news.
At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is forecast to remain unchanged at 3.9 percent in three months to February.
In the meantime, foreign trade from Switzerland and wholesale prices from Germany are due.
At 3.00 am ET, the Czech Statistical Office is set to release producer price data for March. Economists forecast prices to rise at a slower pace of 0.2 percent after climbing 1.4 percent in February.
Half an hour later, Statistics Sweden issues unemployment data for March. The jobless rate stood at 8.2 percent in February.
At 4.00 am ET, industrial production and producer price figures are due from Poland. Industrial production is forecast to fall 2.1 percent on year in March, reversing a 4.9 percent rise in January.
At 5.00 am ET, Germany's ZEW economic confidence survey results are due. Economists forecast the economic confidence index to rise to -42.3 in April from -49.5 in March.
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Malaysia Consumer Prices Drop In March
Malaysia's consumer prices dropped in March, figures from the Department of Statistics showed on Wednesday.
The consumer price index declined 0.2 percent year-on-year in March, after a 1.3 percent increase in February. Economists had expected a 0.1 percent fall.
Among the main groups, prices for transport declined 8.9 percent annually in March and clothing and footwear prices decreased by 1.3 percent.
Meanwhile, cost of food and non-alcoholic beverages rose at a faster pace of 1.2 percent following a 0.8 percent rise in February.
At the same time, prices for miscellaneous goods and services grew 2.6 percent and those of housing, water, electricity, gas and other fuels and communication increased 1.6 percent and 1.5 percent, respectively.
On a month-on-month basis, consumer prices fell 1.2 percent in March.
The core CPI rose 1.3 percent annually in March.
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Japan Inflation Steady At 0.4% In March
Consumer prices in Japan were up 0.4 percent on year in March, the Ministry of Internal Affairs and Communications said on Friday - in line with expectations and unchanged from the February reading.
Core CPI, which excludes volatile food prices, also was up an annual 0.4 percent. That also matched expectations and was down from the 0.6 percent gain in the previous month.
Individually, prices were up for food, housing, furniture, clothing, medical care, communications and recreation. They were down for fuel and education.
On a monthly basis, overall inflation was flat, while core inflation was down 0.1 percent.
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Dollar Mostly Subdued Against Peers
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The U.S. dollar recovered after a mid-session setback and traded slightly higher against some of its peers on Thursday, with traders digesting economic data from across the globe and tracking news about the virus pandemic and geopolitical issues.
The dollar index, which dropped to 100.04 around mid morning, recovered gradually and was last seen hovering around 100.50, up 0.12% from previous close.
Against the Euro, the U.S. dollar firmed up to $1.0794 from Wednesday's close of $1.0823. The euro area private sector suffered its steepest falls in business activity and employment due to the measures taken to contain the spread of coronavirus, flash survey data from IHS Markit showed.
The flash IHS Markit composite output index plummeted to an all-time low of 13.5 in April, down from a prior record low of 29.7 in March. This was the largest monthly collapse in output recorded in over two decades of survey data collection.
The services Purchasing Managers' Index plunged to a record low 11.7 from 26.4 in March, while the manufacturing PMI came in at 33.6, down from 44.5 in the previous month.
Against Pound Sterling, the dollar edged down to $1.2340.
The Japanese Yen gained against the dollar, trading at 107.64 a dollar, compared to 107.75 a dollar Wednesday evening.
The Aussie gained against the dollar, rising to $0.6358 from its previous close of $0.6323.
The Swiss franc eased to CHF 0.9739 from CHF 0.9713, while the Loonie firmed up to 1.4124 a dollar, from $1.4161, thanks to another jump in crude oil prices.
In U.S. economic news, more than 4 million people filed first-time claims for U.S. unemployment benefits in the week ended April 18th, according to a report released by the Labor Department on Thursday. That reflects a continued decline from the nearly 7 million people that filed first-time claims in the last week of March.
The Labor Department said initial jobless claims dropped to 4.427 million, a decrease of 810,000 from the previous week's revised level of 5.237 million. Economists had expected jobless claims to slump to 4.200 million from the 5.245 million originally reported for the previous week.
A report released by the Commerce Department showed new home sales plunged by 15.4% to an annual rate of 627,000 in March after tumbling by 4.6% to a revised rate of 741,000 in February. With the steep drop, new home sales pulled back further off the more than twelve-year high of 777,000 set in January.
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Vietnam Manufacturing PMI Falls To 32.7 In April - IHS Marketing
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The Vietnam manufacturing sector continued to contract in April, and at a faster rate because of the Covid-19 pandemic, the latest survey from IHS Marketing revealed on Monday with a manufacturing PMI score of 32.7.
That's down from 41.9 in March and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, there were severe declines in output and new orders, while employment was also down at a record pace.
Firms were pessimistic regarding the 12-month outlook.
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European Economics Preview: Germany Factory Orders Data Due
Factory orders from Germany and final composite Purchasing Managers' survey from euro area are due on Wednesday, headlining a light day for the European economic news.
At 2.00 am ET, Destatis is set to release Germany's factory orders for March. Economists forecast orders to fall 10 percent on month after falling 1.4 percent in February.
At 3.00 am ET, retail sales figures are due from Hungary and the Czech Republic. The Czech retail sales are expected to fall 9 percent annually, following February's 7.4 percent increase.
At 3.15 am ET, IHS Markit releases Spain's services PMI data. The PMI is seen at 10.0 in April versus 23.0 in March.
At 3.45 am ET, Italy's services PMI data is due. Economists expect the index to decline to 9.0 in April from 17.4 in March. Thereafter, final PMI survey data is due from France and Germany at 3.50 and 3.55 am ET, respectively.
At 4.00 am ET, IHS Markit publishes euro area final composite PMI data. Economists expect the index to drop to 13.5 in April, as initially estimated, from 29.7 in March.
Half an hour later, UK IHS Markit/CIPS construction PMI survey data is due. The construction PMI is forecast to drop to 22.0 in April from 39.3 in March.
At 5.00 am ET, Eurostat releases euro area retail sales data. Sales are forecast to decline 10.5 percent on month in March, reversing a 0.9 percent rise in February.
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China Services PMI Rises To 44.4 In April - Caixin
The services sector in China continued to contract in April, albeit at a slightly slower pace, the latest survey from Caixin showed on Thursday with a Services PMI score of 44.4.
That's up from 43.0 in March, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, total new work fell at a modest rate, although export sales tumbled at a near-record pace. Companies trimmed their staff numbers for the third month in a row.
The survey also showed that the composite index ticked up to 47.6 in April from 46.7 in March.
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Malaysia Jobless Rate Rises In March
Malaysia's unemployment rate rose in March, data from the Department of Statistics showed on Friday.
The jobless rate rose to 3.9 percent in March from 3.3 percent in February. In the same month last year, the unemployment rate was 3.4 percent.
On a seasonally adjusted basis, jobless rate rose to 3.9 percent in March from 3.3 percent in the previous month.
The number of unemployed increased to 610,500 in March from 525,200 in the previous month.
The number of employed decreased to 15.23 million in March from 15.34 million in the prior month.
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New Zealand Electronic Card Spending Plummets In April
The total value of overall electronic spending in New Zealand was down a seasonally adjusted 48 percent or NZ$3.5 billion in April, Statistics New Zealand said on Monday - following the 8.6 percent drop in March.
Spending in the retail industries fell 47 percent (NZ$2.6 billion), while spending in the core retail industries - which excludes the automobile-related industries) fell 44 percent (NZ$2.2 billion).
The non-retail (excluding services) category was down NZ$686 million (47 percent), and the services category fell NZ$200 million (84 percent) in April 2020.
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China Inflation Slows To 3.3% In April
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Consumer prices in China were up 3.3 percent on year in April, the National Bureau of Statistics said on Tuesday.
That was beneath expectations for an annual increase of 3.7 percent and down from 4.3 percent in March.
On a monthly basis, consumer prices sank 0.9 percent - again missing forecasts for a decline of 0.5 percent after sliding 1.2 percent in the previous month.
The stats bureau also reported that producer prices tumbled 3.1 percent on year - well shy of expectations for a drop of 2.6 percent and down sharply from the 1.5 percent decline a month
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Australia Unemployment Rate Rises To 6.2% In April
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The jobless rate in Australia came in at a seasonally adjusted 6.2 percent in April, the Australian Bureau of Statistics said on Thursday. That was up from 5.2 percent in March but was well beneath expectations for 8.3 percent.
The Australian economy lost 594,300 jobs last month to 12,418,700 - missing forecasts for a decline of 575,000 following the increase of 5,900 jobs in the previous month.
Full-time employment decreased 220,500 to 8,656,900 people and part-time employment decreased 373,800 to 3,761,800 people.
Unemployment increased 104,500 to 823,300 people. Underutilization rate increased 5.9 pts to 19.9 percent.
The participation rate was 63.5 percent in April, well shy of expectations for 65.2 percent and down from 66.0 percent a month earlier.
Monthly hours worked in all jobs decreased 163.9 million hours to 1,625.8 million hours.
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China Industrial Output Rises 3.9% On Year In April
Industrial production in China was up 3.9 percent on year in April, the National Bureau of Statistics said on Friday.
That exceeded expectations for an increase of 1.5 percent following the 1.1 percent decline in March.
The bureau also noted that retail sales fell an annual 7.5 percent - missing expectations for a drop of 7.0 percent after tumbling 15.8 percent in the previous month.
Fixed asset investment sank 10.3 percent on year, also shy of expectations for a decline of 10.0 percent after plunging 16.1 percent a month earlier.
The jobless rate came in at 5.8 percent, down from 5.9 percent in March. RSS feed
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Singapore Exports Rise Unexpectedly In April
Singapore's non-oil domestic exports increased unexpectedly in April, data from Enterprise Singapore showed on Monday.
Non-oil domestic exports increased 9.7 percent year-on-year in April, confounding expectations for a decline of 5 percent. Nonetheless, the pace of growth eased from 17.6 percent logged in March. Electronic NODX fell by 0.6 percent, while non-electronic NODX gained 12.8 percent.
On a monthly basis, NODX declined 5.8 percent in April, after a 12.8 percent rise in the previous month.
NODX to the top markets grew in April, though exports to China, Hong Kong, Malaysia, Indonesia and Thailand declined. The largest contributors to the growth were the US, the EU 27 and Japan, data showed.
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