Australia New Home Buildings Rise 2% In September Quarter: HIA

New home buildings in Australia increased for the second consecutive quarter in three months ended September, data released by the Housing Industry Association (HIA) showed Thursday.



New dwelling commencements increased a seasonally adjusted 2 percent sequentially to 37,027 in the September quarter, marking the second successive quarterly increase.



The latest growth, which was the strongest in over a year, was assisted by the 75 basis points cut from the official cash rate over May and June last year.



The number of detached dwelling commencements increased 4. 3 percent in the first quarter of the 2012/13 financial year, while the number of multi-unit dwellings dropped by 1. 3 percent.



"New South Wales posted an encouraging result with a 9. 5 percent increase in commencements in the quarter, although it is likely to be influenced by changes to government incentives that occurred around this time," HIA Economist, Geordan Murray said.





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2013-1-17 09:42

the quarter → Результатов: 8 / the quarter - фото


Spanish Economy Recovers In Q3


Spain's economy returned to growth in the third quarter, after staying mired in a recession for more than two year, preliminary data from the statistical office INE showed Wednesday.



Gross domestic product expanded 0.1 percent during the quarter ended September, reversing the 0.1 percent sequential drop in the previous period.



On a yearly basis, the economy remained in negative territory due to the weakness in domestic demand, but the rate of contraction slowed in the third quarter. GDP was down 1.2 percent annually, following last quarter's 1.6 percent decline.



Both quarterly and annual figures matched the flash estimate released by the Bank of Spain on October 23.





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2013-10-30 12:42

UK Economy Set To Record Stronger Growth In Q3: Capital Economics


The ongoing strength of the British private sector, as indicated by the latest purchasing managers' surveys, points to a sharp pick-up in GDP growth in the third quarter, Capital Economics Chief UK Economist Vicky Redwood said Thursday.



Capital Economics forecasts that economic growth in the third quarter would comfortably match or exceeded the 0.7 percent growth recorded in the second quarter.



However, muted employment growth and subdued price pressures, as evidenced by the PMI surveys, suggest that the strong economic growth is unlikely to translate into a rapid fall in the unemployment rate, a pick-up in price pressures, or a near-term rise in official interest rates, the firm said.



According to Redwood, while retail sales and industrial production look set to beat the growth seen in the second quarter, the sharp widening of the trade deficit in July suggests that net trade will struggle to contribute to growth as it did in the June quarter.



Further, data from the three PMI surveys, comprising manufacturing, construction and services, suggest that the fourth quarter is starting on a strong note too, the economist said.



Survey data compiled by Markit Economics today showed that the purchasing managers' index for the UK service sector stayed well above the neutral mark in September, signaling stable growth momentum in the sector. At 60.3, the index was little changed from August's reading of 60.5.



The movement of the index over the third quarter as a whole shows that services output increased at a faster rate of 1.5 percent than 0.6 percent in the second quarter.





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2013-10-03 17:42

Swiss Franc Weakens Despite Upbeat Q2 GDP Report


The Swiss franc drifted weaker in early European deals on Tuesday despite a report showed that the nation's economic growth in the second quarter slowed less-than that of economists' predictions, largely due to positive contributions from private spending and investment.



According to figures published by the State Secretariat for Economic Affairs (SECO), the real gross domestic product expanded 0.5 percent sequentially, which was forecast to fall to 0.3 percent from the prior quarter's 0.6 percent growth.



As seen in the previous quarter, household spending gained 0.6 percent. Moreover, investment recovered strongly in the second quarter, up 1.4 percent after falling 0.2 percent. On a yearly basis, economic growth more than doubled to 2.5 percent from 1.2 percent a quarter ago.



Easing concerns over an imminent U.S. strike on Syria and further signs of economic improvement across the globe lifted the risk-associated currencies' values in the foreign exchange market on Tuesday.



The U.S. President Barack Obama's decision to carry out a limited air strike against Syria may be delayed until at least next week as Republican Senators John McCain and Lindsey Graham said they have more confidence the White House is developing a better strategy to back use of military force.



Equities also rallied after official data indicated another month of reasonably solid growth in Chinese service sector, with the non-manufacturing purchasing managers' index easing slightly to 53.9 last month from 54.1 in July.



Meanwhile, the British Retail Consortium said retail sales in the U.K. increased at a weaker-than-expected rate in August after an exceptional July. Sales value increased 1.8 percent year-over-year on a like-for-like basis, falling below expectations for 2.4 percent growth but keeping well above the 12-month average.



Elsewhere, the total labor cash earnings in Japan increased for a second consecutive month in July, albeit at a slower pace, data from the Ministry of Health, Labor and Welfare showed today. Total wages increased 0.4 percent year-on-year in July, following a 0.6 percent increase in June and a 0.1 percent decrease in May.



At the same time, the Reserve Bank of Australia decided to keep the benchmark cash rate unchanged at a record-low of 2.5 percent, with a possible depreciation of the currency expected to facilitate rebalancing of the economy.



Investors await a slew of reports on U.K. construction activity, producer prices from the euro area and U.S. ISM manufacturing all due out later in the day for further clues on the health of the global economy.



The Swiss franc slipped to 1.4584 against the pound around 2:45 am ET, having extended its strong sell-offs since its failed test of 1.42 resistance on August 28. With the GBP/CHF currency cross is staying well-above its 200-day simple moving average level, the franc is poised to extend its downtrend beyond 1.46 support in the near-term to set its lowest level since June 10.



The franc also fell to a fresh 2-week low of 0.9374 against the US dollar following the GDP numbers, pushing the local unit closer to the pivotal 0.94 area, a level not seen since August 15. The franc has been trading lower since its failure to challenge resistance around the 0.9140/50 area on August 20.



The Switzerland currency dropped to a weekly low of 1.2343 against the euro and a session's low of 106.21 against the yen following the data. The next bearish barrier for the Swiss franc is seen around the 1.2360 against the former and 106.0 against the latter, as CHF/JPY pair is receding well-below from a trend-line resistance of a symmetrical triangle.





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2013-09-03 12:42

Indonesia's Current Account Deficit Narrows In Q1


The shortfall in Indonesia's current account decreased significantly in the first quarter, data released by Bank Indonesia showed Wednesday.



The current account showed a deficit of $5.27 billion during the three months ended March, lower than the $7.65 billion deficit seen in the fourth quarter. In the first quarter of 2012, the balance was a deficit of $3.11 billion.



The surplus in the goods trade account increased to $1.64 billion in the first quarter from $0.8 billion in the final three months of 2012. The deficit in the services account dropped to $2.31 billion from $3.32 billion, while the shortfall in the income account decreased to $5.69 billion from $6.34 billion.



The current transfers account showed a surplus of $1.1 billion in the three months to March, compared to the $1.21 billion surplus seen in the preceding three-month period, data showed.





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2013-05-15 17:25

UK SME Business Activity Weaker Than Expected, Survey Shows


Business activity at the U.K.'s small and medium-sized enterprises was weaker than expected in the three months to April with both output and new orders declining, a survey by the Confederation of British Industry showed Tuesday.



According to the industry group's latest SME Trends survey, the decrease in total new orders was driven by falls in both domestic and export demand. Output also fell for the fourth consecutive quarter.



Despite the disappointing performance, optimism about the overall business situation has steadied, following three quarters of decline. Optimism about export prospects rose for the first time in a year, the survey report said.



Employment in the sector ticked up in the three months to April, and manufacturers expect a modest increase in staff levels in the coming quarter.



The survey also found that both domestic and export price inflation were broadly the same quarter-on-quarter, but growth in average unit costs was the fastest since October 2011. This squeezed manufacturers' profit margins once again and this pressure on margins are expected to persist in the coming three months.





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2013-05-07 12:33

Japan Bank Loan Demand Increases In Q1


Japan's corporate loan demand improved in the first quarter as internally generated fund of customers decreased amid rising sales, the latest senior loan officer opinion survey published by the Bank of Japan showed Friday.



The balance of demand for loans from firms rose to 5 in the first quarter from 4 in the preceding quarter. Likewise, household demand increased to 14 from 11.



Loan officers cited the fall in interest rates as another reason for rise in corporate loan demand. The index for corporate loan demand is expected to remain unchanged at 5 in the second quarter.



The survey, however, showed that the index for demand from large firms eased to 4 from 5 in the fourth quarter. The survey was conducted among 50 banks between March 11 and April 10.





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2013-04-19 12:42

Spanish Unemployment Rate Hits Record High Of 26.02%


Spain's jobless rate increased to a record high in the fourth quarter, leaving nearly six million people unemployed as the government engaged in sharp spending cuts after the economy plunged deeper into recession, latest data showed on Thursday.



The unemployment rate increased to 26.02 percent in the fourth quarter from 25.01 percent in the preceding three months, statistical office INE said. The rate was almost in line with the consensus forecast for 26 percent.



The latest figure is the highest in the history of modern Spain, after the death of the dictator Francisco Franco in 1975. The current government led by Prime Minister Mariano Rajoy came to power late 2011.



The jobless rate among those under the age of 25 years also jumped to a record 55.13 percent in the fourth quarter from 52.34 percent in the previous three months. A year ago, the figure was 48.56 percent.



There were around 5.97 million unemployed persons in the country at the end of 2012, higher by 187,300 compared to the third quarter. From the fourth quarter of 2011, the number of jobless persons increased by 13.12 percent.



Meanwhile, the number of employed persons decreased 2.1 percent sequentially to 16.96 million in the three months ended December. Year-on-year, employment dropped by 4.78 percent.



The Spanish economy deteriorated severely in recent times after the country's once-booming real estate sector bust in 2008, leaving millions of workers out of labor.



Data from the government this week showed residential property prices fell 10 percent in the fourth quarter compared to last year. Separate data showed the home sales in Spain decreased at a marked annual rate of 6.1 percent in November.



In its latest quarterly bulletin, released yesterday, the Bank of Spain said Spain's recession likely deepened in the fourth quarter, with gross domestic product (GDP) falling for the fifth consecutive quarter.



According to the bank, GDP is estimated to have dropped at a faster rate of 0.6 percent sequentially in the fourth quarter than 0.3 percent in the third quarter, signaling a worsening of the ongoing recession.



Year-on-year, the economy contracted 1.7 percent during in the fourth quarter, after shrinking 1.6 percent in the third quarter. In the whole of 2012, GDP has declined 1.3 percent.



The Spanish economy may stop contracting in the second half of this year, but the balance of risks seems tilted towards a more protracted recession and a real return to growth may have to wait until next year, ING Bank economist Martin van Vliet said yesterday.



"The recent fall in Spanish government bond yields has been impressive," the economist noted. "But it has not yet been accompanied by meaningful signs of improvement in Spain's real economy."





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2013-01-24 16:42