Food prices in New Zealand were up a seasonally adjusted 0.3 percent on month in May, Statistics New Zealand said on Friday
That was in line with expectations following the 0.2 percent increase in April and the 1.3 percent decline in March.
In May, fruit and vegetable prices rose 2.1 percent. Vegetable...
The dollar is currently trading mixed against its major competitors Thursday. The U.S. currency is down against the Japanese Yen, after a sharp decline in Asian equity markets sparked a retreat to safe havens. However, the dollar is up against the Euro, following the release of some better than expected...
Business inventories in the U.S. rose in line with economist estimates in the month of April, according to a report released by the Commerce Department on Thursday. The report said business inventories increased by 0.3 percent in April compared to a revised 0.1 percent decrease in March. The modest rebound matched the expectations of economists.
With prices for fuel imports seeing a significant decrease, the Labor Department released a report on Thursday showing an unexpected drop in U.S import prices in the month of May. The report said import prices fell by 0.6 percent in May following a revised 0.7 percent decrease in April. Economists had been expecting import prices to come in unchanged.
In a positive sign for the U.S. jobs market, the Labor Department released a report on Thursday showing that first-time claims for unemployment benefits unexpectedly decreased in the week ended June 8th. The Labor Department said initial jobless claims fell to 334,000, a decrease of 12,000 from the previous week's unrevised figure of 346,000.
Retail sales in the U.S. rose by slightly more than expected in the month of May, according to a report released by the Commerce Department on Thursday, with auto sales showing a notable increase. The report said retail sales increased by 0.6 percent in May after edging up by 0.1 percent in April. The sales growth came in just above economist estimates for a 0.5 percent increase.
Indonesia's central bank on Thursday unexpectedly raised its benchmark interest rate for the first time since 2011 in a bid to contain rising inflation expectations and to maintain macroeconomic and financial stability. The BI rate was lifted by 25 basis points to 6 percent from a record-low of 5.75 percent. The rate was on hold since a quarter-point reduction in February 2012.
The World Bank lowered its growth forecasts for the global economy on Thursday, citing deeper-than-expected recession in the euro area and muted growth in developing countries. Releasing the June edition of the Global Economic Prospects, the lender said it now expects the world economy to grow 2.2 percent this year, decelerating from the 2.3 percent expansion in 2012.
The number employed persons in Australia unexpectedly increased in May, owing to an increase in part-time employment, the latest report from the Australian Bureau of Statistics showed Thursday. The report also revealed a marginal dip in the unemployment rate. The number of employed persons rose 1,100 from a month earlier to 11.66 million in May. Economists expected a decline of 10,000.
The Bank of Korea's monetary policy board on Thursday decided to hold the nation's benchmark interest rate unchanged at 2.50 percent - in line with expectations.
The BoK had trimmed rates by 25 basis points in May, from 2.75 percent to 2.50 percent after six months of holding steady.
The Reserve Bank of New Zealand on Thursday announced that it was holding its official cash rate on hold at 2.50 percent - broadly in line with expectations.
Reserve Bank Governor Graeme Wheeler said the decision was based on a firm economic outlook for New Zealand, although downside risks remain...
The dollar is extending its recent weakness against its major competitors on Wednesday. The U.S. currency declined yesterday, after the Bank of Japan decided not to expand its stimulus measures and upgraded its view of the economy. Investors will be watching for the release of a large number of U.S....
Fitch Ratings raised India's credit rating outlook to 'stable' on Wednesday, signaling support to the government's structural reforms and efforts to trim the country's massive budget deficit. The upgrade will be most welcome to Prime Minister Manmohan Singh's government at a time when the rupee has weakened significantly and economic growth slowed to a decade-low in the fiscal year ended March 31.
A bigger-than-expected decline in jobless claims as well as a fall in unemployment indicate that the U.K. economy is recovering as suggested by recent economic data. The number of people claiming unemployment benefits decreased by 8,600 in May from April, the Office for National Statistics reported Wednesday. It was sharper than the expected drop of 5,000.
Industrial production in the euro area increased in April, defying economists' forecast for stagnation, but the rate of growth was weakened by lower output of energy and durable consumer goods. Yet, the data has given rise to fresh hopes that the region is slowly emerging from its long-drawn recession.