Global Economic News


asiandevelopmentbank sept25 22sep21 The Asian Development Bank raised its economic growth projections for the next year but signaled divergence in the recovery paths among regional economies. In its latest Asian Development Outlook 2021 Update, released Wednesday, the ADB said developing Asia will expand 5.4 percent next year, instead of 5.3 percent estimated previously. Meanwhile, the outlook for 2021 was downgraded to 7.1 perce

boj 031617 22sep21 The Bank of Japan kept its monetary policy stimulus unchanged on Wednesday, ahead of next week's presidential election of the ruling Liberal Democratic Party to select a successor to the outgoing Prime Minister Yoshihide Suga. The board, governed by Haruhiko Kuroda, on Wednesday, voted 8-1, to hold the interest rate at -0.1 percent on current accounts that financial institutions maintain at the c

chinaflag july24 22sep21 China maintained its benchmark loan prime rates for the 17 consecutive month, as widely expected. The one-year loan prime rate was kept unchanged at 3.85 percent and the five-year LPR at 4.65 percent. The one-year and five-year loan prime rates were last lowered in April 2020. The one-year loan prime rate was cut by 20 basis points and five-year rate by 10 basis points in April 2020.

The Bank of Japan will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity. The bank is widely expected to keep its benchmark lending rate steady at -0.1 percent, although other forms of stimulus...

oecd nov21 21sep21 The Organisation for Economic Cooperation and Development raised the growth projection for next year, while lowering the same for this year, and expressed concern over the increasingly uneven nature of the economic recovery from the slump caused by the pandemic as well as rising inflationary pressures.

building permits 092121 New residential construction in the U.S. increased by more than expected in the month of August, according to a report released by the Commerce Department on Tuesday.

ukpublicfinance sept21 21sep21 The UK budget deficit exceeded expectations and marked the second biggest shortfall on record for the month of August, driven by a surge in interest payments, data published by the Office for National Statistics showed on Tuesday. Public sector net borrowing, excluding public sector banks, totaled GBP 20.5 billion in August 2021.

preview oct24 21sep21 Public sector finances data from the UK is due on Tuesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK public sector finance data for August. The budget deficit is seen at GBP 15.6 billion versus GBP 10.4 billion in July.

The Reserve Bank of Australia will on Tuesday release the minutes from its monetary policy meeting on September 7, highlighting a light day for Asia-Pacific economic activity. At the meeting, the RBA kept its key interest rate unchanged at a record low 0.10 percent and confirmed to taper its bond...

preview2 sept20 20sep21 Producer prices from Germany are due on Monday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is slated to issue Germany's producer prices for August. Producer price inflation is forecast to rise to 11.4 percent from 10.4 percent in July.

New Zealand will on Monday see August results for the Performance of Services Index from BusinessNZ, headlining a light day for Asia-Pacific economic activity. In July, the index score was 57.9. Hong Kong will release August figures for consumer prices; in July, inflation was up 3.7 percent on year. Finally,...

consumer 011819 17sep21 Consumer sentiment in the U.S. has seen a modest improvement in September after falling sharply in August, according to a preliminary report released by the University of Michigan on Friday. The report said the consumer sentiment index inched up by 71.0 in September from 70.3 in August. Economists had expected the index to rise to 72.2.

uk aug15 17sep21 UK retail sales declined for the fourth straight month in August, the longest stretch of fall on record, data from the Office for National Statistics showed on Friday. Retail sales including auto fuel dropped unexpectedly by 0.9 percent month-on-month after declining 2.8 percent in July. Sales were forecast to climb 0.5 percent.

previewimage aug03 17sep21 Retail sales data from the UK is due on Friday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics is scheduled to issue UK retail sales data for August. Sales are forecast to grow 0.5 percent from July, when the volume was down 2.5 percent.

The manufacturing sector in New Zealand fell deeply back into contraction in August, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 40.1. That's down sharply from 62.2 in July, and it moves well beneath the boom-or-bust line of 50 that separates expansion from...

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