logo

Asian Economic News

Share

Thailand's central bank retained its record low interest rates as the economy is expected to recover gradually in line with the relaxation of the coronavirus containment measures. The Monetary Policy Committee of Bank of Thailand unanimously voted to retain the interest rate at 0.50 percent. The...

indonesiaflag may05 05aug20 Indonesia's economy contracted at the fastest pace since the Asian financial crisis as measures to control the spread of coronavirus pandemic took its toll on consumption, investment and trade, data from the statistics bureau revealed Wednesday. Gross domestic product fell 5.32 percent year-on-year in the second quarter, reversing last quarter's 2.97 percent growth.

Australia's service sector activity gained momentum in July due to the gradual reopening of the economy following a loosening of coronavirus disease 2019, final survey data from IHS Markit showed Wednesday. The Commonwealth Bank of Australia final services Purchasing Managers' Index rose to 58.2 in...

India's service sector contracted sharply in July as restrictions imposed to curb the coronavirus disease weighed on activity, survey results from IHS Markit showed Wednesday. The IHS Markit services Purchasing Managers' Index rose moderately to 34.2 in July from 33.7 in June. However, a score below...

The services sector in China continued to expand in July, albeit at a slower pace, the latest survey from Caixin revealed on Wednesday with a PMI score of 54.1. That's down from the 10-year high of 58.4 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Mild...

The total value of owner-occupied home loans in Australia was up a seasonally adjusted 5.5 percent on month in June, the Australian Bureau of Statistics said on Wednesday - coming in at A$12.99 billion. That follows the 10.2 percent decline in May. Investment lending was up 8.1 percent to A$4.44...

Consumer prices in the Philippines were up 2.7 percent on year in July, the National Statistics Office said on Wednesday - exceeding expectations for 2.5 percent, which would have been unchanged from May's reading. Core CPI, which excludes volatile food prices, advanced an annual 3.3 percent - up...

The services sector in Japan continued to contract in July, albeit at a slower pace, the latest survey from Jibun Bank showed on Wednesday with a PMI score of 45.4. That's up from 45.0 in June, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction. July...

The private sector in Hong Kong continued to contract in July, and at a faster pace, the latest survey from Markit Economics showed on Wednesday with a PMI score of 44.5. That's down from 49.6, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction. Individually,...

The private sector in Singapore continued to contract in July, albeit at a slower pace, the latest survey from Markit Economics showed on Wednesday with a five-month high PMI score of 45.6. That's up from 43.2, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction. Individually,...

newzealandcpi 071510 The jobless rate in New Zealand came in at a seasonally adjusted 4.0 percent in the second quarter of 2020, Statistics New Zealand said on Wednesday. That was down from 4.2 percent in the three months prior and well shy of expectations for 5.8 percent. The employment change showed a loss of 0.4...

The construction sector in Australia continued to contract in July, albeit at a slower pace, the latest survey from the Australian Industry Group showed on Wednesday with a Performance of Construction Index score of 42.7. That's up from 35.5, although it remains beneath the boom-or-bust line of 50...

The unemployment rate in New Zealand came in at a seasonally adjusted 4.0 percent in the second quarter of 2020, Statistics New Zealand said on Wednesday. That was down from 4.2 percent in the three months prior and well shy of expectations for 5.8 percent. The employment change showed a loss of...

New Zealand will on Tuesday release Q2 figures for unemployment, highlighting a busy day for Asia-Pacific economic activity. The jobless rate is expected to climb to 5.8 percent from 4.2 percent in the previous three months, while the participation rate is tipped to sink to 69.8 percent from 70.4 percent. Hong...

Australia's retail sales grew at a moderate pace in June, revised data published by the Australian Bureau of Statistics showed Tuesday. Retail turnover advanced 2.7 percent on a monthly basis in June, following a 16.9 percent increase in May. The rate was faster than the 2.4 percent increase estimated...

Follow RTT