Housing approvals rallied in Australia in May

Note: This section contains information in English only.
Source: Bloomberg
Australian home construction permits surged in May indicating that demand for housing my climb as RBA reduced the interest rates. The number of approvals to renovate or build apartments and houses jumped 27.3% compared to a 7.6% drop in April. Economists questioned by Bloomberg predicted a 5% advance. 
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Tue, 03 Jul 2012 08:38:35 GMT

Australia maintains benchmark rate at 3.5% on stronger economy

The Reserve Bank of Australia left its key interest rate unchanged at 3.5% after two consecutive reductions in June and May.The central bank cited stronger local employment and advancing Aussie as conditions helping to curb excessive inflation.

Tue, 03 Jul 2012 07:24:38 GMT

US manufacturing unexpectedly fell in June

Production in US unexpectedly fell last month, the first drop in nearly three years, warning that slowdown in US economy may linger. The ISM manufacturing gauge tumbled from 53.5 in May to 49.7 in June, surpassing even the most pessimistic predictions. Economists questioned by Bloomberg predicted an average drop to 52. US economists suggest Europe is adding negative pressure on US manufacturing. 

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