Economic News

Poland's April Gross Wage Growth Accelerates

Poland's gross wages grew by more-than-expected 3 percent in April from the previous year, faster than the 1.6 percent increase seen in March, data published by the Central Statistical Office showed Monday. Economists had forecast only 2.2 percent increase for April. Meanwhile, gross wages fell... Read more...

Japan Upgrades Economic View Amid Export Recovery

The Japanese government on Monday upgraded its assessment of the economy for the first time in two months, as a weak yen helped revive the country's exports and factory output. "The Japanese economy is picking up slowly," the Cabinet Office said in its May monthly report. This was an upgrade from previous month's assessment when it said that economy was showing signs of picking up. Read more...

Japan Data On Tap For Monday

Japan is scheduled to release a batch of data on Monday, highlighting a modest day for Asia-Pacific economic activity. On tap are final March figures for the leading and coincident indexes, plus April numbers for machine tool orders, convenience store sales, department store sales and Tokyo condominium... Read more...

US / CANADA

Cyprus Eases Limits On 8 More Banks

Cyprus has further relaxed restrictions on foreign banks that were imposed after the debt-laden country sought the $30 billion bailout. Eight more foreign banks - the Bank of Beirut SAL, Banque SBA, Barclays Bank PLC, Banque BEMO SAL, BBAC SAL, Credit Libanais SAL, Jordan Ahli Bank plc and Privatbank... Read more...

U.S. Leading Economic Index Rises 0.6% In April, Much More Than Expected

Led by building permits and the interest rate spread, leading economic indicators in the U.S. rose by more than anticipated in the month of April, according to a report released by the Conference Board on Friday. The Conference Board said its leading economic index rose by 0.6 percent in April following a revised 0.2 percent decrease in March. Read more...

U.S. Consumer Sentiment Jumps To Nearly Six-Year High In May

Consumer sentiment in the U.S. has seen a substantial improvement in the month of May, according to a report released by Thomson Reuters and the University of Michigan on Friday, with the consumer sentiment index rising to its highest level in nearly six years. Read more...

EUROPE

Absence Of Resolution Regime Will Impair Public Finances: BoE's Tucker

In the absence of effective resolution regimes, public finances will be under more pressure, Bank of England Deputy Governor Paul Tucker said Monday. The countries that resorted to bank bailout and without effective resolution system will possibly have higher government yield, policymaker said in... Read more...

Portugal Producer Price Inflation Eases In April

Producer price inflation in Portugal eased in April, the latest figures published by Statistics Portugal showed Monday. The industrial production price index rose 0.5 percent year-on-year in April, slower than a 1.4 percent gain in April. On a monthly basis, the index fell 0.4 percent. In the... Read more...

Italy's Current Account Swings To Surplus In March

Italy's current account balance showed a surplus of EUR 1.9 billion in March compared to a deficit of EUR 1.56 billion logged during the same period of last year, the Bank of Italy reported Monday. The surplus in goods account almost doubled to EUR 4.66 billion from EUR 2.4 billion last year. At... Read more...

ASIA

Taiwan's Current Account Surplus Nearly Unchanged In Q1

Taiwan's current account deficit remained almost unchanged in the first quarter of 2013 from a year earlier, data from the central bank revealed Monday. The current account ran a surplus of $11.09 billion during the period, compared with $11.06 billion surplus last year. This, however, was lower... Read more...

Hong Kong Unemployment Rate Remains Steady

Unemployment rate in Hong Kong remained at 3.5 percent in February-April, unchanged from the January-March period, the latest figures from the Census and Statistics Department showed Monday. The number of unemployed persons increased to 133,500 in February-April from 132,500 in January - March. Total... Read more...

Taiwan Export Orders Fall Less Than Expected

Taiwan's export orders declined less than expected by economists in April, the latest figures from the Ministry of Economic Affairs showed Monday. The value of total export orders fell 1.1 percent year-on-year in April compared with a 1.9 percent drop forecast. Compared to March, orders fell 0.4... Read more...

GLOBAL ECONOMICS

Italian Industrial Orders Rise On Foreign Demand

Italy's industrial new orders grew 1.6 percent in March from the prior month, due to a 3.6 percent rise in non-domestic demand, data from the statistical office Istat revealed Monday. Orders from domestic market increased only 0.2 percent. However, industrial new orders plunged 10 percent in March... Read more...

UK Household Finances Deteriorate Least In 3 Years

Squeeze on British household budgets eased in May as an indicator of personal finances showed its highest reading in three years despite straying in the negative territory, a report from Markit Economics showed Monday. The headline Markit Household Finance Index rose sharply to 40.4 in May from 37.7... Read more...

Thailand Cuts 2013 GDP Outlook As Q1 Growth Slows More Than Expected

Thailand lowered its full-year growth outlook after weaker domestic demand and exports weighed on economic activity in the first three months of the year. Gross domestic product expanded 5.3 percent year-on-year in the first quarter of 2013 compared to an upwardly revised 19.1 percent growth in the fourth quarter of 2012, the National Economic and Social Development Board (NESDB) said Monday. Read more...

ANALYSTS COMMENTS

Eurozone Economy Faces Risk Of Further Contraction In Q2: IHS Global Insight

The continuing recession and the recent relapse in business confidence suggest that the Eurozone economy is in serious danger of suffering further modest contraction in the second quarter, IHS Global Insight... Read more...

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Monday ,May.20