Wednesday, May 16, 2012

20120516 0958 Global Economy Related News.

China: FDI inflow at USD38bn in first 4 months
China’s FDI inflows dropped 2.4% in the first four months of 2012 versus last year, the longest period of declining inflows since the depths of the global financial crisis and a sign of external economic headwinds. The Commerce Ministry said yesterday the country drew USD37.9bn in FDI between January and April, drown from USD38.8bn attracted in the same period in 2011. April’s inflow alone was USD8.4bn, down from USD8.5bn a year earlier. (StarBiz)

Japan: March machinery orders fall 2.8% from previous month
Japan’s machinery orders fell less than economists forecast in March, as earthquake reconstruction helped to support the nation’s growth. Bookings decreased 2.8% from the previous month, a Cabinet Office report showed in Tokyo yesterday. The median estimate of 29 economists surveyed by Bloomberg News was for a 3.5% decline. Orders can swing between gains and declines depending on the timing of major projects. (Bloomberg)

South Korea: Adds workers as unemployment rate unchanged at 3.4%
South Korea added workers last month and the unemployment rate held at two-month low as demand increased for jobs in health, social welfare and education. The rate was 3.4% in April, Statistics Korea said yesterday in Gwacheon, south of Seoul, matching the median estimate in a Bloomberg News survey of 12 economists. The number of employed people increased 1.9% to 24.76m last month from a year earlier. (Bloomberg)

Russia: GDP grew 4.9% in first quarter, exceeding estimates
Russia’s economy grew last quarter at the fastest pace since the three months ended Sept 2011, suggesting the world’s biggest energy exporter is more resilient to Europe’s debt crisis than economists estimated. Gross domestic product expanded 4.9% from the same period last year after rising 4.8% in the fourth quarter, the Federal Statistics Service in Moscow said in an e-mailed statement yesterday. The median estimate in a Bloomberg survey of 14 economists was 4.1%. The Economy Ministry projected growth at 4%. (Bloomberg)

EU: Avoids 2nd recession
Germany helped the euro-area avoid its second recession in three years as growth in the region’s largest economy offset contractions in peripheral countries. GDP in the 17-nation euro region stagnated in the latest quarter compared with the prior three months, the European Union’s statistics office in Luxembourg said. The median forecast of economists surveyed by Bloomberg was for a 0.2% contraction. Germany’s economy expanded 0.5%, compared with the 0.1% median estimate by economists in a separate survey. (StarBiz)

US: Consumer-Price Index unchanged; core rate climbs 0.2%
A measure of the US cost of living was unchanged in April, restrained by a drop in energy prices and supporting the view of some Federal Reserve policy makers that inflation will ease. Last month’s consumer-price index matched the median forecast of economists surveyed by Bloomberg News and followed three straight gains that included a 0.3% rise in March, Labor Department data showed yesterday in Washington. The so-called core measure, which excludes more volatile food and energy costs, rose 0.2% for a second month. (Bloomberg)

US: International demand for US assets rises on Europe crisis
International demand for US financial assets rose in March as investors continued to seek safety from the debt crisis in Europe. Net buying of long-term equities, notes and bonds totaled USD36.2bn during the month, compared with net purchases of USD10.1bn in Feb, the Treasury Department said yesterday in Washington. Economists surveyed by Bloomberg News projected net buying of USD32.5bn of long-term assets, according to the median estimate. (Bloomberg)

No comments: