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International Monetary Fund Chief Christine Lagarde said global economic growth remains subdued despite signs of recovery taking hold in the U.S., emphasizing the point that economies are moving at different speeds. The stake of U.S. in the global recovery is greater than ever in a world of increasing economic interconnections, Lagarde said.
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The U.K. budget deficit narrowed slightly more than expected in August, suggesting that economic recovery started to bring positive developments in public finances. Data published by the Office for National Statistics on Friday showed that public sector net borrowing, excluding temporary effects of financial interventions, came in at GBP 13.2 billion.
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China will on Monday see September results for the HSBC/Markit flash manufacturing PMI, highlighting a modest day for Asia-Pacific economic activity.
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An indicator of China's factory sector performance rose to its highest level in six months in September as new export orders rebounded, preliminary results of a survey by Markit Economics and HSBC revealed Monday. The headline purchasing managers' index rose to a six-month high of 51.2 in September from 50.1 in August. A PMI reading above 50 indicates expansion of the sector.
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Singapore's inflation edged up to 2 percent in August on account of higher costs of accommodation, services and food, data published jointly by the Ministry of Trade and Industry and the Monetary Authority of Singapore showed Monday.
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While the data may be taken with a grain of salt in light of recent technical issues, the Labor Department released a report on Thursday showing that first-time claims for U.S. unemployment benefits unexpectedly decreased in the week ended September 21st. The report said initial jobless claims fell to 305,000, a decrease of 5,000 from the previous week's revised figure of 310,000.
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Economic activity in the U.S. increased at an unrevised rate in the second quarter, according to the Commerce Department's final estimate on gross domestic product in the quarter. The Commerce Department said GDP increased by 2.5 percent in the second quarter, unchanged from the previous estimate. Economists had expected the pace of growth to be upwardly revised to 2.6 percent.
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Pending home sales in the U.S. fell by more than expected in the month of August, according to a report released Thursday by the National Association of Realtors, which cited tight inventory conditions, higher interest rates, rising home prices and continuing restrictive mortgage credit. NAR said its pending home sales index dropped by 1.6 percent.
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Core consumer prices in Japan gained 0.8 percent on year in August, the Ministry of Internal Affairs and Communications said on Friday - suggesting a possible end to the deflationary problems that have plagued the nation for more than a decade.
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The growth in British house prices accelerated unexpectedly in September, the results of a key survey revealed Friday, fueling concerns that the government's new 'Help To Buy' scheme could trigger a property market boom if demand continues to outstrip supply. The Nationwide Building Society said that its house price index rose 0.9 percent month-on-month in September.
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British consumer sentiment reached its highest level in nearly six years in September as households turned more confident about the economy achieving sustainable growth, a survey by market research group GfK showed Friday. The headline consumer confidence index rose to -10 in September, the highest reading since November 2007, from -13 in August. The index topped the -11 forecast by economists.
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Personal income and spending in the U.S. both rose in line with economist estimates in the month of August, according to a report released by the Commerce Department on Friday. The report said personal income rose by 0.4 percent in August following an upwardly revised 0.2 percent increase in July.
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Thomson Reuters and the University of Michigan released a report on Friday showing an upward revision to their reading on U.S. consumer sentiment in the month of September, although the index still pointed to a deterioration in sentiment compared the previous month.
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Japan is scheduled to release a raft of data on Monday, highlighting a busy day in Asia-Pacific economic news. On tap are August numbers for industrial production, retail sales, vehicle production, housing starts and construction orders, as well as September results for the Nomura Manufacturing Purchasing Managers Index.
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Total private sector credit in Australia was up 0.3 percent in August compared to the previous month, the Reserve Bank of Australia said on Monday.
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An index measuring business confidence came in with a score of 54.1 for September, the ANZ business outlook revealed on Monday - touching a five-year high.
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An indicator of manufacturing activity in China increased less than previously estimated in September, final outcome of a survey by HSBC and Markit Economics revealed Monday. The latest result signaled only a modest improvement in operating conditions from August. The headline purchasing managers' index edged up to 50.2 in September from 50.1 in August, according to the newest estimate.
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Eurozone inflation slowed more-than-expected to the lowest since early 2010 in September due to a notable fall in energy prices, giving ample room for the central bank to undertake growth-oriented measures to fortify nascent recovery. Inflation in the euro area slowed to 1.1 percent, the lowest since February 2010, from 1.3 percent in August, preliminary data from Eurostat showed Monday.
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The Bank of Japan will on Tuesday release the results of its quarterly Tankan survey that measures business sentiment, highlighting a busy day for Asia-Pacific economic activity.
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Chinese manufacturing activity expanded at a slightly faster rate in September, with business activity across the sector seeing a modest pick up, a survey by the China Federation of Logistics and Purchasing, or CFLP, and the National Bureau of Statistics showed Tuesday. The headline purchasing managers' index, or PMI, rose to 51.1 in September from 51 in August.
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The total value of retail sales in Australia added a seasonally adjusted 0.4 percent in August compared to the previous month, the Australian Bureau of Statistics said on Tuesday, standing at A$21.923 billion.
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Japan's Prime Minister Shinzo Abe said Tuesday that he will hike the sales tax as planned from April next year to reduce the country's huge debt load. The government is also set to announce a stimulus package to cushion the potential negative impact that the tax hike could have on the nascent recovery of the economy. The government will increase the consumption tax to 8 percent from April 2014.
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Activity in the U.S. manufacturing sector expanded for the fourth consecutive month in September, according to a report released by the Institute for Supply Management on Tuesday, with the index of activity in the sector showing an unexpected increase.
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Activity in the U.S. manufacturing sector expanded for the fourth consecutive month in September, according to a report released by the Institute for Supply Management on Tuesday, with the index of activity in the sector showing an unexpected increase.
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Australia will on Wednesday release August figures for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity.
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The Asian Development Bank, or ADB, on Wednesday slashed its economic growth forecasts for developing Asia, citing more moderate economic activity in China and India as well as widespread concerns that possible tapering of US stimulus program could impact growth in the region. ADB revised down its 2013 GDP growth forecast for the region to 6 percent from 6.6 percent seen in April.
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Australia posted a seasonally adjusted merchandise trade deficit of A$815 million in August, the Australian Bureau of Statistics said on Wednesday - marking a 41 percent gain from the previous month.
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The Asian Development Bank, or ADB, on Wednesday slashed its economic growth forecasts for developing Asia, citing more moderate economic activity in China and India as well as widespread concerns that possible tapering of US stimulus program could impact growth in the region. ADB revised down its 2013 GDP growth forecast for the region to 6 percent from 6.6 percent seen in April.
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European Central Bank President Mario Draghi said on Wednesday that the bank is prepared to use every available instrument to prevent market interest rates from rising to unsustainable levels that could hamper the economic recovery.
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In a report that may take on increased importance due to the likely delay of the government report, payroll processor ADP released a report on Wednesday showing that private sector employment in the U.S. increased by somewhat less than expected in the month of September.
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Hong Kong will on Thursday release August figures for retail sales, highlighting a light night for Asia-Pacific economic activity.
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The growth in Chinese non-manufacturing sector reached a six-month high in September amid a solid increase in new work, a survey by the China Federation of Logistics and Purchasing, or CFLP, and the National Bureau of Statistics revealed Thursday. The headline purchasing managers index for the non-manufacturing sector, which includes services and construction industries, rose to a six-month high.
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Eurozone's retail sales increased more than expected in August on a rebound in non-food product turnover, the latest figures from Eurostat revealed Thursday. Retail sales increased 0.7 percent month-on-month in August compared with forecast for a 0.2 percent growth. Moreover, the rate exceeded July's 0.5 percent rise.
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Activity in the U.S. service sector continued to grow in the month of September, according to a report released by the Institute for Supply Management on Thursday, although the pace of growth slowed by even more than economists had anticipated.
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Activity in the U.S. service sector continued to grow in the month of September, according to a report released by the Institute for Supply Management on Thursday, although the pace of growth slowed by even more than economists had anticipated.
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The Bank of Japan will on Friday conclude its monetary policy meeting and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity.
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The Bank of Japan on Friday decided to hold its monetary easing plan unchanged while also maintaining its economic assessment. At the end of a two-day meeting of the nine-member Policy Board led by Governor Haruhiko Kuroda, the central bank said it will keep the target for the monetary base expansion at an annual pace of JPY 60-70 trillion.
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Eurozone producer prices declined more than expected in August on a sharp drop in energy prices, underlining the muted inflationary pressure in the economy. Industrial producer prices dropped 0.8 percent in August from a year ago, which follows a flat reading in July, Eurostat reported Friday.
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The World Bank on Monday cut its growth forecasts for developing East Asia, citing weaker growth in China and the other economies in the region. The bank now projects 7.1 percent growth for developing East Asia in 2013, below the 7.8 percent growth predicted in April. The growth for 2014 is seen at 7.2 percent, which is also weaker than its earlier forecast of 7.6 percent.
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Consumer credit in the U.S. rose by slightly more than expected in the month of August, according to a report released by the Federal Reserve on Monday.The report said consumer credit rose by $13.6 billion August following a $10.4 billion increase in July.
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