South Korean consumer confidence rose to the highest level in almost a year as improving signs for the US economy and European debt crisis offset worries over North Korea. The sentiment index was at 104 in April, the strongest since May 2011, rising from 101 in March, the Bank of Korea said. A reading above 100 indicates optimists outnumber pessimists. (Bloomberg)
Japan: Bank of Japan seen anteing up on stimulus as yen impact fades
Japan‟s central bank is set to ante up on stimulus measures as a rebound in the yen shows that the impact of a JPY10trn (USD123bn) expansion in asset purchases in February is fading. All 14 economists in a Bloomberg News survey predict additional easing when the Bank of Japan releases new inflation forecasts on 27 April. Most expect an increase ranging from JPY5trn to JPY10trn. (Bloomberg)
UK: March deficit larger than forecast
Britain posted a larger budget deficit than economists forecast in March, underscoring the challenge facing Chancellor of the Exchequer George Osborne as he tries to cut borrowing. Net borrowing excluding support for banks was GBP18.2bn (USD29.4bn), compared with GBP18bn a year earlier, the Office for National Statistics said. (Bloomberg)
US: Sales of new US homes exceeded estimates in March
Demand for new US homes was stronger than projected in March, showing more jobs and cheaper borrowing costs are helping stabilize the market. Houses sold at a 328,000 annual rate, down from an upwardly revised 353,000 pace in February that was the highest in two years, according to Commerce Department data. The median estimate in a Bloomberg News survey forecast a rate of 319,000. (Bloomberg)
US: Consumer confidence in US little changed as outlook cools
Confidence among US consumers was little changed in April as expectations over the outlook tempered increased optimism about the present. The Conference Board‟s confidence index was at 69.2 compared to a revised 69.5 in the prior month, figures from the New York-based private research group showed. The median forecast of economists surveyed by Bloomberg News called for a reading of 69.6. (Bloomberg)
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