Thailand: Exports rise as demand weathers Baht strength
Thailand’s exports rose for the 10th consecutive month in August as the Baht’s appreciation to a 13-year high failed to curb demand for the country’s automobile parts and electronics. Shipments increased 23.9% last month from a year earlier to USD16.5bn. Prime Minister Abhisit Vejjajiva’s government is considering measures to temper the Baht’s gains, which the Thai Chamber of Commerce said may affect overseas shipments in the fourth quarter. (Bloomberg)
Taiwan: Export orders increase more than estimated
Taiwan’s export orders rose faster than economists projected, signaling resilience to global economic risks and scope for higher borrowing costs. Orders, an indication of shipments in the next one to three months, increased 23.3% in August from a year earlier, after an 18.23% gain in July, the Ministry of Economic Affairs said. (Bloomberg)
US: Homebuilder confidence holds at one-year low
Confidence among US homebuilders in September unexpectedly held at the lowest level in more than a year, showing the housing market remains depressed following the expiration of a government tax credit. The National Association of Home Builders/Wells Fargo confidence index was unchanged at 13, matching the August reading as the lowest since March 2009, data showed. Index readings lower than 50 mean more respondents said conditions were poor. (Bloomberg)
US: Obama prods China on currency, praises economic team
President Barack Obama criticized China for its currency policy, praised his economic team and called predictions of a Republican takeover of the House of Representatives “premature.” China’s leaders haven’t done “everything they said would be done” to allow the nation’s currency to rise in value, Obama said, echoing the views expressed by administration officials and lawmakers at congressional hearings last week. (Bloomberg)
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