Malaysia: To sign FTA with India
An India-Malaysia free trade deal is expected to almost double trade by 2015, allowing them to reduce dependence on traditional growth engines such as China and US. The trade agreement will be signed by 31 Jan 2011 and come into force by 1 July. The two countries said they would work together to develop the hydrocarbons and renewable energy industries and collaborate in banking and information technology. (Financial Daily)
Australia: Less-than-forecast inflation is RBA ‘vindication’
Australian consumer prices rose less than forecast last quarter, driving down the nation’s currency as traders unwound bets the central bank will raise interest rates next week. The consumer price index rose 0.7% from the second quarter, the Bureau of Statistics said. That was less than the 0.8% median estimate in a Bloomberg News survey of 24 economists. The central bank’s measures of core inflation showed annual price increases slowed last quarter. (Bloomberg)
Germany: Inflation held steady in October after Euro appreciated
German inflation held steady in October as a stronger euro helped counter higher energy prices. The inflation rate, calculated using a harmonized European method, stayed at 1.3%, the Federal Statistics Office in Wiesbaden said. That was in line with the median of 21 estimates in a Bloomberg News survey of economists. In the month, prices rose 0.1%. (Bloomberg)
US: Sales of US new homes increase for second month
Sales of new homes rose in September for a second month to a pace that signals the industry is struggling to overcome the effects of a jobless rate hovering near 10%. Purchases increased 6.6% to a 307,000 annual rate that exceeded the median forecast of economists surveyed by Bloomberg News, figures from the Commerce Department showed in Washington. Demand is hovering near the record-low 282,000 reached in May. (Bloomberg)
US: Orders for US durable goods probably climbed, boosting growth
Orders for US durable goods probably climbed in September by the most in five months, a sign business investment is underpinning the recovery, economists said. Bookings for goods meant to last at least three years increased 2%, according to the median forecast of 76 economists surveyed by Bloomberg News. Another report may show sales of new houses rose last month to a 300,000 annual rate, hovering near a record low. (Bloomberg)
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