Friday, November 30, 2012

20121130 1032 Local & Global Economy Related News.

Malaysia is expected to register real GDP growth of 5.1% in 2012 and 5% in 2013, according to World Bank’s Malaysia Economic Monitor launched Thursday. As propelled by domestic demand, the economy is likely to weather a weak global environment and grow robustly in the next year. The report also noted that strengthening structural reforms is the key to ensuring the positive growth momentum carries into the medium-term. (Bernama)

The  private sector is more likely to contribute towards the government's target of increasing women's participation rate in the labour force to 55% by 2015, Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop said Thursday. As of last year, women's participation rate increased to 47.9% from 46% in 2010, he said. (Bernama)

US consumer spending climbed at a 1.4% rate in 3Q12, the smallest gain in more than a year and down from a previously reported 2% advance. (Bloomberg)

The US pending home sales index rose 5.2% mom in Oct (a revised 0.4% in Sep), beating consensus of 1.0%. (Bloomberg)

US after-tax corporate profits gained 18.6% yoy in 3Q12 (14.5% in 2Q12). (Bloomberg)

US 3Q12 GDP rose a revised 2.7% qoq in the second estimate (2.0% in the advance estimate; 1.3% in 2Q12). This was close to the consensus estimate of 2.8%. (Bloomberg)

US jobless claims fell 23,000 in the 24 Nov week to 393,000 (a revised 416,000 in the earlier week), still higher than consensus of 390,000. (Bloomberg)

New home sales across 54 major cities in China jumped by 30% yoy in Nov. (Caixin)

China’s leading index improved marginally to 100.42 pts in Oct from 100.36 in Sep. (Bloomberg)

Japan’s retail sales fell 1.2% yoy in Oct, the most in 11 months, after a 0.4% advance in Sep. Economists expected a 0.8% decline. (Bloomberg)

The average salary increase in Thailand in 2013 is projected at 6%, slightly higher than the 5.7% pay rise in 2012, putting the country in the middle spectrum in the Asia-Pacific region, where predictions range from 2.3% to 12% - a slight increase from 2012. (Bangkok Post)

The Philippines’ budget deficit  narrowed to PP9.7bn in Oct from US$34.9bn in Sep. (Bloomberg)

Eurozone economic confidence rose to 85.7 from 84.3 in Oct, well above consensus of 84.5, whilst industrial confidence rose to -15.1 from -18.3 in Oct.  Services confidence improved to  -11.9 from  -12.1. The  business climate index rose by 0.42 pt to  -1.19, whilst the  consumer sentiment index fell to -26.9 from -25.7 in Oct. (RTTNews)

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