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IFX Gertrude
post Jun 3, 2019, 03:30 AM
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post Jun 3, 2019, 03:30 AM
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Myanmar Manufacturing Sector Accelerates In May - Nikkei



The manufacturing sector in Myanmar continued to contract in May, and at a faster rate, the latest survey from Nikkei revealed on Monday with a manufacturing PMI score of 54.2.

That's up from 53.7 in April, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, operating conditions improved at a solid rate, while there was faster growth in output and new orders. Employment expansion was the quickest in series history.

At the same time, input costs increased further in May, with the rate of inflation picking up to a six-month high

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IFX Gertrude
post Jun 4, 2019, 05:01 AM
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post Jun 4, 2019, 05:01 AM
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South Korea Inflation Rises 0.2% In May



Consumer prices in South Korea were up 0.2 percent on month in May, Statistics Korea said on Tuesday - following the 0.2 percent decline in April.

On a yearly basis, inflation advanced 0.7 percent - accelerating from 0.4 percent in the previous month.

Core CPI - which excludes volatile food prices - sank 0.2 percent on month and added0.6 percent on year.

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IFX Gertrude
post Jun 7, 2019, 01:38 AM
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post Jun 7, 2019, 01:38 AM
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New Zealand Q1 Volume Of Building Soars 6.2%



The overall volume of building in New Zealand climbed a seasonally adjusted 6.2 percent on quarter in the first three months of 2019, Statistics New Zealand said on Friday.

That beat forecasts for an increase of 1.1 percent and was up sharply from the upwardly revised 3.4 percent gain in the three months prior (originally 2.7 percent).

Non-residential building volume rose a seasonally adjusted 9.0 percent, the bureau said, while residential building volume rose a seasonally adjusted 4.3 percent.

The actual value of total building work was NZ$6.1 billion in the March 2019 quarter - up 16 percent from the March 2018 quarter.

By region, the actual value of total building work in the March 2019 quarter (compared with the March 2018 quarter) was: NZ$2.5 billion in Auckland - up 26 percent; NZ$595 million in Waikato - up 30 percent; NZ$474 million in Wellington - up 1.5 percent; NZ$950 million in rest of North Island - up 13 percent; NZ$931 million in Canterbury - down 1.0 percent; and NZ$618 million in rest of South Island - up 12 percent. In the year ended March 2019, the national value of residential building work rose NZ$1.1 billion (7.9 percent) when compared with the previous March year - driven by an NZ$861 million (16 percent) increase in Auckland.

In the year ended March 2019, the national value of non-residential building work rose NZ$923 million (12 percent) when compared with the previous year - driven by a NZ$672 million (25 percent) increase in Auckland.

The non-residential building types with most growth in the year ended March 2019 (compared with the March 2018 year) were: shops, restaurants, and bars (shops) - up NZ$337 million (41 percent) nationally; hotels, motels, boarding houses, and prisons (accommodation) - up NZ$248 million (40 percent) nationally; and storage buildings - up NZ$199 million (26 percent) nationally.


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IFX Yvonne
post Jun 10, 2019, 07:25 AM
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post Jun 10, 2019, 07:25 AM
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Ireland Construction Activity Growth Slows In May



Ireland's construction activity growth eased to the lowest in four months in May, survey data from IHS Markit showed on Monday.

The Ulster Bank Construction Purchasing Managers' Index, or PMI, fell to 54.9 in May from 56.6 in April. Any reading above 50 indicates expansion in the sector.

The housing sub-category rose at the fastest pace in three monitored sub-sectors for the fifth straight month in May. The corresponding PMI slid slightly to 58.3 from 60.5 a month ago.

Commercial activity increased at the slowest pace since August 2013. The commercial activity index came in 53.1 versus 54.6 in the previous month.

Civil engineering activity fell for the ninth month in a row. The civil engineering activity PMI dropped to 46.3 from 46.4 in April.

"New business and employment levels continued to rise at healthy rates in May, albeit in line with overall trends, both indices eased last month," Simon Barry, chief economist Republic of Ireland at Ulster Bank, said.

"Survey respondents remain optimistic about the sector's prospects over the year ahead, with expectations of stronger customer demand cited as an important source of support."



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IFX Gertrude
post Jun 11, 2019, 05:43 AM
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post Jun 11, 2019, 05:43 AM
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European Economics Preview: UK Labor Market Data Due



Unemployment from the UK and investor confidence from euro area are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Norway publishes consumer price data. Economists forecast inflation to remain unchanged at 2.9 percent in May.

At 2.30 am ET, Bank of France business sentiment survey data is due. The business confidence index is forecast to rise slightly to 100 in May from 99 in April.

Half an hour later, the Czech inflation data is due. Inflation is expected to slow slightly to 2.7 percent in May from 2.8 percent in April.

At 4.30 am ET, the Office for National Statistics releases UK unemployment data. The ILO jobless rate is seen unchanged at 3.8 percent in three months to April.

In the meantime, Eurozone Sentix investor confidence data is due. Economists forecast the investor sentiment index to drop to 2.5 in June from 5.3 in May.

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IFX Gertrude
post Jun 13, 2019, 05:08 AM
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post Jun 13, 2019, 05:08 AM
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Australia Jobless Rate Steady At 5.2% In May



The unemployment rate in Australia came in at a seasonally adjusted 5.2 percent in May, the Australian Bureau of Statistics said on Thursday - unchanged from the April reading but missing forecasts for 5.1 percent.

The Australian economy added 42,300 jobs last month - blowing past expectations for an increase of 16,000 following the increase of 28,400 in the previous month.

The participation rate was 66.0 percent, surpassing forecasts for 65.8 percent and up from the upwardly 65.9 percent a month earlier (originally 65.8 percent).

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IFX Gertrude
post Jun 13, 2019, 05:08 AM
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post Jun 13, 2019, 05:08 AM
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Australia Jobless Rate Steady At 5.2% In May



The unemployment rate in Australia came in at a seasonally adjusted 5.2 percent in May, the Australian Bureau of Statistics said on Thursday - unchanged from the April reading but missing forecasts for 5.1 percent.

The Australian economy added 42,300 jobs last month - blowing past expectations for an increase of 16,000 following the increase of 28,400 in the previous month.

The participation rate was 66.0 percent, surpassing forecasts for 65.8 percent and up from the upwardly 65.9 percent a month earlier (originally 65.8 percent).

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IFX Gertrude
post Jun 14, 2019, 05:52 AM
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post Jun 14, 2019, 05:52 AM
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New Zealand Manufacturing Growth Near Stagnation



New Zealand manufacturing sector was close to stagnation in May, the latest BNZ survey showed Friday.

The BNZ-BusinessNZ Performance of Manufacturing Index fell 2.5 points to 50.2 in May. This was the lowest score since December 2012.

The production sub-index declined to 46.4 in May from 50.1 a month ago. This was the lowest since April 2012. A score below 50 indicates contraction in the sector.

As a growth risk indicator it may not be flashing bright red just yet, but it is moving in that direction in taking on a darker shade of amber, Doug Steel, a senior economist at BNZ Research said.

The PMI sends a warning signal for near term growth via its mix of falling production, near flat new orders, and rising inventory, Steel added. Next week's first quarter GDP should be reasonable, but beyond this downside risks are accumulating.

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IFX Gertrude
post Jun 17, 2019, 05:42 AM
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post Jun 17, 2019, 05:42 AM
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BCC Trims UK Growth Outlook



The British Chambers of Commerce downgraded its growth outlook for next year as unwinding of historically-high inventory levels amid weak business investment weigh on economic activity.

In the latest economic forecast, released Monday, the growth projection for 2020 was lowered to 1 percent from 1.3 percent and that for 2021 to 1.2 percent from 1.4 percent.

However, the growth outlook for 2019 was lifted marginally to 1.3 percent from 1.2 percent, citing the exceptionally rapid stock-building ahead of the original Brexit deadline in March.

Gross domestic product was forecast to remain flat in the second quarter of 2019 after expanding 0.5 percent in the first quarter.

Over the near-term, the lobby expect that the ongoing Brexit impasse, together with the high upfront cost of doing business in the UK and the running down of excess stock to suffocate investment activity.

Business investment was expected to decline 1.3 percent this year versus prior forecast of 1 percent drop. Further, the lobby projected 0.4 percent growth next year, before improving to 1.1 percent in 2021.

Further, trade was set to make a negative contribution as exchange rate volatility, Brexit uncertainty and a subdued global economy, weaken trading conditions for British exporters.

Export growth was seen at 1.6 percent this year and next and 1.7 percent in 2021, compared to import growth of 4.3 percent in 2019, 1.8 percent in 2020 and 2.2 percent in 2021.

Nonetheless, consumer spending was forecast to remain resilient on low unemployment and earnings growth to stay above inflation. Household consumption growth outlook was lifted to 1.4 percent for 2019 and to 1.4 percent in 2020.

The forecast was based on the assumption that the UK avoids a messy and disorderly Brexit.

"Businesses are putting resources into contingency plans, such as stockpiling, rather than investing in ventures that would positively contribute to long-term economic growth," Adam Marshall, Director General of the BCC, said. "This is simply not sustainable."

Business communities expect the next Prime Minister to quickly find a sensible and pragmatic way forward to avoid a messy and disorderly Brexit, Marshall added.

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IFX Gertrude
post Jun 18, 2019, 05:04 AM
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post Jun 18, 2019, 05:04 AM
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New Zealand Consumer Confidence Drops In Q



New Zealand's consumer sentiment weakened slightly in the second quarter as households remained downbeat about the economic backdrop, survey data from Westpac showed Tuesday.

The Westpac McDermott Miller consumer confidence index dropped 0.3 points to 103.5 in June.

Among sub-components, the indicator for present situation fell to 106.6 from 107.6 a quarter ago. Meanwhile, the expected conditions index rose marginally to 101.4 from 101.3.

The index measuring current financial situation improved to -4.7 in the second quarter from -8.3. Likewise, the expected financial situation indicator climbed to -3.2 from -6.5.

The 1-year ahead economic outlook rose slightly to -4.6 from -5.1. At the same time, the 5-year economic outlook dropped to 11.9 from 15.4 in the previous quarter.

The 'good time to buy' index declined to 17.9 in the second quarter from 23.4 in the preceding period.

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IFX Gertrude
post Jun 19, 2019, 05:20 AM
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post Jun 19, 2019, 05:20 AM
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Japan May Trade Deficit Y967.1 Billion



Japan posted a merchandise trade deficit of 967.1 billion yen in May, the Ministry of Finance said on Wednesday - up 67.5 percent on year.

That exceeded expectations for a shortfall of 1,207.0 billion yen following the 110.9 billion yen deficit in April.

Exports were down 7.8 percent on year to 5.835 trillion yen, also beating forecasts for a drop of 8.4 percent following the 2.4 percent decline in the previous month.

Exports to Asia were down 12.1 percent on year to 3.120 trillion yen, while exports to China alone fell 9.7 percent to 1.148 trillion yen.

Exports to the United States rose an annual 3.3 percent, while exports to the European Union sank 7.1 percent to 647.475 billion yen.

Imports sank an annual 1.5 percent to 6.802 trillion yen versus expectations for an increase of 1.0 percent after soaring 6.5 percent a month earlier.

Imports from Asia fell 3.3 percent on year to 3.100 trillion yen, while imports from China alone eased 0.9 percent to 1.540 trillion yen.

Imports from the United States dipped an annual 1.6 percent to 792.795 billion yen, while imports from the European Union climbed 8.7 percent to 898.979 billion yen.

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IFX Gertrude
post Jun 20, 2019, 04:52 AM
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post Jun 20, 2019, 04:52 AM
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New Zealand GDP Expands 0.6% On Quarter In Q1



New Zealand's gross domestic product grew a seasonally adjusted 0.6 percent on quarter in the first three months of 2019, Statistics New Zealand said on Thursday - matching forecasts and unchanged from the previous quarter.

On an annualized yearly basis, GDP was up 2.5 percent - exceeding forecasts for an increase of 2.3 percent, which would have been unchanged.

Activity in the goods-producing industries rose 2.0 percent in the March 2019 quarter. The growth was mainly driven by increased activity in the construction industry (up 3.7 percent), its largest increase since the September 2017 quarter. The rise in construction was reflected in investment in non-residential building (up 9.9 percent) and residential buildings (up 2.7 percent).

Manufacturing activity rose 1.4 percent in the March 2019 quarter, after a 0.4 percent decline in the December 2018 quarter. Increased food, beverage, and tobacco manufacturing contributed strongly to the rise this quarter. There were also increases in metal product manufacturing; non-metallic mineral manufacturing; and petroleum, chemical, polymer, and rubber product manufacturing.

Activity in the service industries rose 0.2 percent in the March 2019 quarter, the slowest growth rate since the September 2012 quarter. Of the 11 service industries, seven recorded growth.

The main drivers of this quarter's growth were health care and social assistance (up 1.7 percent) and transport, postal, and warehousing (up 1.2 percent). Retail, accommodation, and restaurants fell 0.5 percent. Lower activity in accommodation and restaurants reflected a dip in visitor arrivals to New Zealand in February and March.

Agriculture, forestry, and fishing production fell 2.3 percent in the March 2019 quarter, after a 0.3 percent fall in the December 2018 quarter. The fall in the latest quarter was due to unfavorable weather conditions. Agriculture (down 2.3 percent), forestry and logging (down 1.2 percent), and fishing (down 0.4 percent) all declined. This was offset by a rise in mining (up 9.6 percent), due to higher exploration activity along with an increase in oil and gas extraction.

Household spending grew 0.5 percent in the March 2019 quarter, after a 1.0 percent rise in the December 2018 quarter. Growth was subdued this quarter due to lower spending on services (up 0.3 percent). This was the weakest growth in services expenditure since the December 2014 quarter. Spending on durable and non-durable goods increased 1.4 percent and 0.4 percent, respectively.

Investment in fixed assets was up 2.4 percent in the March 2019 quarter. Higher construction activity was reflected in higher construction-related investment expenditure. Business investment (all investment less residential buildings) rose 1.9 percent.

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IFX Gertrude
post Jun 21, 2019, 07:32 AM
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post Jun 21, 2019, 07:32 AM
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European Economics Preview: Eurozone Flash PMI Data Due



Flash Purchasing Managers' survey from euro area and public sector finance from the UK are due on Friday, headlining a light day for the European economic news.

At 3.15 am ET, IHS Markit releases France's flash composite PMI data. Economists forecast the index to rise marginally to 51.3 in June from 51.2 in May. At 3.30 am ET, Germany's composite PMI data is due. The composite index is seen at 52.5 in June versus 52.6 a month ago.

At 4.00 am ET, IHS Markit is slated to release PMI survey results for euro area. The composite PMI is forecast to rise to 52.0 in June from 51.8 in May.

In the meantime, industrial output and producer price reports are due from Poland. Industrial production is seen rising 7.5 percent annually in May, following a 9.2 percent rise in April. Producer price inflation is expected to ease to 1.6 percent in May from 2.6 percent a month ago.

At 4.30 am ET, the Office for National Statistics releases UK public sector finance data. The budget deficit is expected to narrow to GBP 4.1 billion in May from GBP 5.8 billion in April.

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IFX Gertrude
post Jun 24, 2019, 04:51 AM
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post Jun 24, 2019, 04:51 AM
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European Economics Preview: Germany Ifo Business Confidence Data Due



Business sentiment data from Germany is due on Monday, headlining a light day for the European economic news.

At 1.00 am ET, Statistics Finland releases producer prices for May. Prices had increased 0.1 percent on month in April.

At 3.00 am ET, the Czech business confidence survey data is due for June. The business sentiment index had fallen to 12.7 in May from 15.1 in April.

At 4.00 am ET, Germany's Ifo business sentiment survey results are due. Economists forecast the business confidence index to fall to 97.5 in June from 97.9 in May.

The ifo current conditions index is seen at 100.8 versus 100.6 in May. Meanwhile, the expectations index is forecast to fall to 95.1 in June from 95.3 in May.

In the meantime, retail sales data from Poland is due. Sales are forecast to expand 8.5 percent annually, following a 13.6 percent rise in April.

At 5.00 am ET, Statistics Iceland is scheduled to issue monthly wage data for May.

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IFX Gertrude
post Jun 25, 2019, 04:51 AM
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post Jun 25, 2019, 04:51 AM
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Japan Producer Prices Rise 0.8% On Year In May



Business sentiment data from Germany is due on Monday, headlining a light day for the European economic news.

Producer prices in Japan were up 0.8 percent on year in May, the Bank of Japan said on Tuesday.

That was shy of expectations for an increase of 1.0 percent and down from the upwardly revised 1.0 percent gain in April (originally 0.9 percent).

On a monthly basis, producer prices dipped 0.3 percent after easing 0.1 percent in the previous month.

Individually, prices were down for communications, transportation, advertising and maintenance, while prices were up for real estate. Finance was roughly flat.

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IFX Gertrude
post Jun 26, 2019, 05:43 AM
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post Jun 26, 2019, 05:43 AM
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European Economics Preview: Germany GfK Consumer Sentiment Data Due



Consumer confidence from Germany is due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Germany's GfK consumer confidence survey results are due. The forward-looking consumer confidence index is seen falling slightly to 10.0 in July from 10.1 in June.

In the meantime, Norway labor force survey data is due. The jobless rate is seen unchanged at 3.5 percent in April.

At 2.45 am ET, France's statistical office Insee publishes consumer confidence survey data. The index is expected to rise marginally to 100 in June from 99 in May.

At 4.00 am ET, unemployment data is due from Poland. The jobless rate is expected to fall to 5.4 percent in May from 5.6 percent in April.

At 5.00 am ET, Statistics Iceland releases consumer price inflation data for June.

At 5.15 am ET, Bank of England Governor Mark Carney, policymakers Jon Cunliffe, Silvana Tenreyro and Michael Saunders are set to answer questions at the Treasury Select Committee.

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IFX Gertrude
post Jun 27, 2019, 03:22 AM
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post Jun 27, 2019, 03:22 AM
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Japan Retail Sales Rise 0.3% In May



Retail sales in Japan were up a seasonally adjusted 0.3 percent on month in May, the Ministry of Economy, Trade and Industry said on Thursday - shy of expectations for a gain of 0.6 percent following the downwardly revised 0.1 percent drop in April (originally flat).

On a yearly basis, retail sales were up 1.2 percent - in line with expectations and up from the downwardly revised 0.4 percent increase in the previous month (originally 0.5 percent).

Large retailer sales were down 0.5 percent on year, missing forecasts for a gain of 0.2 percent following the 1.8 percent drop a month earlier.

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IFX Gertrude
post Jun 28, 2019, 05:23 AM
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post Jun 28, 2019, 05:23 AM
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New Zealand Consumer Sentiment Strengthens In June



New Zealand consumer confidence strengthened in June after falling a month ago, survey data from ANZ-Roy Morgan showed on Friday.

The consumer confidence index rose to 122.6 in June from 119.3 in May. The score rose to a bit above its historical average.

The current conditions index rose 2 points to 128, and the future conditions index gained 4 points to 119.

Consumers' perceptions of their current financial situation lifted 5 points to a net 15 percent assessing financially better off than a year ago. A net 29 percent of consumers expect to be better off financially this time next year, which was up 6 points. However, the proportion of households who think it's a good time to buy a major household item fell 3 points to 40 percent.

Perceptions regarding the next year's economic outlook lifted 5 points to 12 percent and the five-year outlook rose 2 points to +16 percent. Inflation expectations among consumers advanced to 4.0 percent in June from 3.6 percent in May.

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IFX Gertrude
post Jul 2, 2019, 01:36 AM
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post Jul 2, 2019, 01:36 AM
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Japan Monetary Base Jumps 4.0% In June



The monetary base in Japan was up 4.0 percent on year in June, the Bank of Japan said on Tuesday - coming in at 512.991 trillion yen.

That follows the 3.6 percent increase in May.

Banknotes in circulation were up an annual 3.1 percent, while coins in circulation advanced 2.3 percent. Current account balances climbed 4.2 percent, including a 3.8 percent increase in reserve balances.

The adjusted monetary base jumped an annual 7.2 percent to 510.159 trillion yen.

For the second quarter of 2019, the monetary base was up 3.6 percent on year.

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IFX Gertrude
post Jul 3, 2019, 06:23 AM
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post Jul 3, 2019, 06:23 AM
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China's Private Sector Expands Marginally In June



China's private sector expanded marginally in June despite contraction in manufacturing, survey data from IHS Markit showed Wednesday.

The Caixin composite output index fell to 50.6 in June from 51.5 in May. However, a score above 50 indicates expansion. The reading signaled the weakest growth since last October.

The services Purchasing Managers' Index dropped more-than-expected to 52.0 in June from 52.7 in the previous month. The expected reading was 52.6.

"The conflict between China and the U.S. impacted business confidence rather heavily," Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group said. "Although its impact on exports hasn't been fully reflected in the short-run, the longerterm situation doesn't look optimistic. Future government policies to stabilize economic growth are likely to focus on new types of infrastructure, consumption and high-quality manufacturing."

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