An indicator measuring manufacturing activity in the Philadelphia area accelerated in May rising for the fifth straight month despite the fact that factory activity index in the country slipped, a report unveiled by the Federal Reserve Bank of Philadelphia showed on Thursday. The current activity index in the area added from April's level of 16.6 to 15.4 points in May.
U.S. new residential construction advanced significantly in April as the country's housing starts gained to the highest level in a five-month period, the latest report unveiled by the Commerce Department showed on Friday. According to the report, the U.S. housing starts jumped 13.2% year-on-year totaling 1.072 million in the month of April.
Economic growth in the city state of Hong Kong eased in the first three months of this year as merchandise exports decreased notably, a report revealed by the Census and Statistics Department unveiled on Friday. The Hong Kong's gross domestic product added 2.5% on an annual basis in the Q1 following a 2.9% expansion posted in the Q4.
Chinese foreign direct investment rebounded in April after recording a drop in the previous month, the latest report unveiled by the Ministry of Commerce showed on Friday. According to the report, the country's foreign direct investment increased to $8.7 billion in the month of April compared to a drop to 1.47% posted in March.
Industrial production in the Asia's second largest economy grew faster than economists originally estimated in March, a revised data published by the country's Ministry of Economy, Trade and Industry unveiled on Friday. Japan's industrial output added 0.7% in March after falling by 2.3% in the prior month, while originally it was seen rising by 0.3% in March.
Foreign trade balance in the 18-nation bloc came in a surplus in March and it was much bigger that economists originally expected, a report released by the statistical office Eurostat showed on Friday. According to the report, the Eurozone's trade surplus recorded 17.1 billion euro, while experts initially seen the surplus rising to 16 billion.
Indian stocks surged on Friday session with the benchmark index rising towards the highest level all-time as the local currency advanced to the strongest level in a eleven-month period versus the U.S. Dollar after the country showed results from government election. The BSE Stock Index added 6.1% to 25,375.63, whereas the Rupee gained to 68.62 per U.S. Dollar.
The European currency slipped on Friday trading session falling slightly against the U.S. Dollar today after recording the weakest level since February on unfavourable data from the Europe. The Euro lost as much as 0.1% to $1.3695 following a fall to $1.3648 yesterday, while it was down 0.3% at 138.85 yen after trading near 138.77, the least in 3 months.
U.K. shares fluctuated on Friday trading session after falling yesterday as the Eurozone's gross domestic product advanced by less than initially estimated and as the U.S. housing starts increased in the month of May. The London's FTSE 100 Index slipped as much as 3.8 points, or less than 0.1%, to 6,837.12 by 1:57 p.m. in London.
The Dollar weakened on Friday trading session falling towards the lowest level in two months against the Japanese Yen and it was set to post the largest weekly drop since April as U.S. government bonds increased. The so-called Greenback was last seen at 101.385 yen, near a 2-month trough of 101.31 yen, and it traded at $1.3695 against the Euro.
Global stocks dropped on Friday trading session with the world-wide index falling for the third straight day extending its losing streak to the longest one in four weeks as investors' risk appetite worsen after economic data from Europe. The MSCI world-equity index slipped as much as 0.2% to a level of 418.24, the least since November 2007.
Economic development in the Eurozone surprisingly slipped to a moderate 0.2% advance in the January-March quarter of this year, down from a 0.4% forecast. While German economy showed a significant GDP increase, other major economies, such as France, Italy, the Netherlands and Portugal posted either stagnation or decline, putting pressure on the ECB to start new stimulus measures.
Italian GDP dropped unexpectedly in the January-March quarter of this year, the flash estimate data showed on Thursday. Economy plummeted 0.1% quarter-on-quarter after a 0.1% increase in October-December. Investors, however, waited for a slight 0.2% economic advance. On the annual basis, economy decreased 0.5%, slowing from a 0.9% plunge a quarter before.
Economic expansion in the Fifth Republic turned to be neutral in the first quarter of the current year, while economists expected the GDP to add 0.1%-0.4%, depending on different surveys. Consumer spending dropped 0.5% amid budget cuts and tax rises, as invesment slipped 0.9%. At the same time, the government of France keeps the target of economic growth for 2014
Investors' sentiment in Switzerland advanced modestly in May together with the economic development index signaled a stable outlook for the near future, a report released by the Center for European Economics Research unveiled on Wednesday. According to the report, the Swiss investors' confidence index added by 0.4% to 7.4 points in May.
Unemployment rate in South Korea advanced in the month of April, while it was originally expected to drop on the month, a report revealed by the Statistics Korea unveiled on Wednesday. According to the report, the country's jobless rate gained 3.7% in April, up from March's level of 3.5%, while the total number of people employed recorded 25.68 million last
South Korean exports prices decreased notably in April falling for the second straight month, a report released by the Bank of Korea unveiled on Wednesday. According to the report, the country's export prices fell by 2.5% on a monthly basis in April after weakening by 0.4% in March, while year-on-year export prices slipped 7.3% in April.
Industrial output in the Europe's largest economy dropped in March together with production declines recorded in France, Spain and Italy, a data unveiled by the Capital Economics showed on Wednesday. German industrial production fell by 0.2%, France's industrial output decreased 0.7%, Spain's and Italy's production slipped 0.6% and 0.5% respectively.
Industrial production in the 18-nation bloc declined in the month of March as the four largest countries recorded a drop in output, the latest report revealed by the Capital Economics showed on Wednesday. According to the report, the Eurozone's industrial output fell 0.3% in the month of March after posting a 0.2% gain in the prior month.
Inflation in Spain measured as harmonized index of consumer prices advanced in April following a drop recorded in the prior month, the latest report unveiled by the statistical office INE showed on Wednesday. According to the report, the Spanish HICP gained 0.3% in April following a 0.2% decline posted in March.
Unemployment rate in the United Kingdom dropped in the first three months of this year falling toward the weakest level in five years as the country's economy added more jobs in the Q1, the latest report unveiled by the Office for National Statistics revealed on Wednesday. The U.K. jobless rate slipped to 6.8% in the Q1, the least since 2009.
Retail sales in South Africa advanced in March rising by less than economists initially estimated as business sentiment in the country weakened in April, the latest data unveiled by the Statistics South Africa showed on Wednesday. According to the data, the South African retail sales jumped by 1% on an annual basis in March, while business confidence fell by 0.1
U.S. business inventories advanced in March matching initial economists' projections, the Commerce Department showed in a report on Wednesday, while March business sales also gained according to the report. The country's business inventories surged by 0.4% in March after recording a 0.5% climb in February, whereas business sales jumped 1.1% in March.
Producer prices in the world's largest economy increased in April rising by more than economists originally expected as food prices posted a notable advanced on the month, the latest data released by the Labor Department showed on Wednesday. The U.S. producer price index gained by 0.6% in the month of April after rising by 0.5% in the prior month.