Asian Economic News
Taiwan Exports Orders Fall 23.2%
Taiwan's export orders declined at a slower-than-expected rate at the end of the year, data from the Ministry of Economic Affairs showed on Tuesday. Export orders fell sharply by 23.2 percent year-on-year in December. Economists had expected a decline of 25.4 percent. Bookings for optical, photographic,...
Philippines Producer Price Inflation Slows To 5.1%
The Philippines' producer price inflation eased to the lowest in ten months and prices grew in 2022 after a fall in the previous year, data from the Philippine Statistics Authority showed on Tuesday. The producer price index increased 5.1 percent year-on-year in December, following a 6.2 percent growth...
Japan Housing Starts Fall 1.7%, Consumer Confidence At 5-Month High
Japan's housing starts decreased for the third straight month in December, defying economists' forecast for a recovery, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Tuesday. Separate official data showed that the consumer confidence index rose to a 5-month high at...
IMF Raises Global Growth Forecast On China Reopening
Despite the global fight against inflation and the war in Ukraine, the International Monetary Fund upgraded its world economic growth projections as the full reopening of China is set to safeguard the recovery. The global growth outlook for 2023 was revised up by 0.2 percentage points to 2.9 percent, the IMF said in its World Economic Outlook Update, released Tuesday.
IMF Lifts Global Growth Outlook
The International Monetary Fund upgraded its global growth outlook for this year as the recent reopening of China is set to safeguard the recovery despite the rise in central bank rates to fight inflation in most advanced economies. The global growth outlook for 2023 was revised up by 0.2 percentage...
Japan Industrial Output Slips 0.1% In December
Industrial production in Japan was down a seasonally adjusted 0.1 percent on month in December, the Ministry of Economy, Trade and Industry said on Tuesday. That beat expectations for a decline of 1.2 percent following the 0.2 percent increase in November. On a yearly basis, industrial production...
China Manufacturing PMI Improves To 50.1 In December - NBS
The manufacturing sector in China turned to expansion in December, the latest survey from the National Bureau of Statistics said on Tuesday with a manufacturing PMI score of 50.1. That beat forecasts for 49.8 and was up from 47.0 in November, moving it above the boom-or-bust line of 50 that separates...
Japan Jobless Rate Holds Steady At 2.5% In December
The unemployment rate in Japan came in at a seasonally adjusted 2.5 percent in December, the Ministry of Internal Affairs and Communication said on Tuesday. That was in line with forecasts and unchanged from the November reading. The participation rate was 62.3 percent, missing forecasts for 62.4...
Japan Industrial Production Eases 0.1% In December
Industrial output in Japan was down a seasonally adjusted 0.1 percent on month in December, the Ministry of Economy, Trade and Industry said on Tuesday. That beat expectations for a decline of 1.2 percent following the 0.2 percent increase in November. On a yearly basis, industrial production slumped...
South Korea Industrial Production Falls 2.9% In December
Industrial output in South Korea was down a seasonally adjusted 2.9 percent on month in December, Statistics Korea said on Tuesday. That was roughly in line with forecasts following the upwardly revised 0.6 percent increase in November (originally 0.4 percent). On a yearly basis, industrial production...
South Korea Industrial Output Slips 2.9% In December
Industrial production in South Korea was down a seasonally adjusted 2.9 percent on month in December, Statistics Korea said on Tuesday. That was roughly in line with forecasts following the upwardly revised 0.6 percent increase in November (originally 0.4 percent). On a yearly basis, industrial...
Retail sales in South Korea were up a seasonally adjusted 1.4 percent on month in December, Statistics Korea said on Tuesday. That beat expectations for an increase of 1.2 percent following the upwardly revised 1.7 percent decline in November (originally -1.8 percent). On a yearly basis, retail...
Australia Private Sector Credit Rises 0.3% In December
Private sector credit in Australia was up 0.3 percent on month in December, the Reserve Bank of Australia said on Tuesday - shy of expectations for 0.5 percent, which would have been unchanged. On a yearly basis, private sector credit climbed 8.3 percent. Individually, housing credit rose 0.3 percent...
Australia Retail Sales Slip 3.9% In December
The value of retail sales in Australia was down a seasonally adjusted 3.9 percent on month in December, the Australian Bureau of Statistics said on Tuesday - coming in at A$34.472 billion. That missed expectations for a decline of 0.3 percent following the 1.4 percent increase in November. By category,...
Japan Data On Tap For Tuesday
Japan is scheduled to release a raft of data on Tuesday, headlining a busy day for Asia-Pacific economic activity. On tap are December figures for unemployment, industrial production, retail sales and housing starts, plus January results for its household confidence index. The jobless rate is expected...
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