20100611 1104 Global Economic News.

Indonesia: IMF forecasts 6% growth for Indonesia this year
The IMF forecast Indonesia’s economic growth will accelerate this year amid improving investment and said the central bank may need to adjust its monetary policy if price pressures rise. The fund also said after meetings in Jakarta with Indonesia’s central bank and other officials that recent capital outflows from Indonesia were likely to be temporary and it saw small downside risk from the euro zone debt woes. “We see growth accelerating to 6% and we think inflation will be contained below 5%,” Thomas Rumbaugh, the IMF’s division chief for Asia and Pacific, told reporters. (Starbiz)

Australia : Employers added 26,900 workers in May as a mining investment boom stokes hiring. The jobless rate fell to 5.2% from 5.4%. (Source: Bloomberg)

China: May exports rise 48.5%, property prices jump
China’s exports jumped the most in six years and property prices rose at a near-record pace, signs that the economy is withstanding the sovereign-debt crisis in Europe and remains at risk of overheating. Exports gained 48.5% in May 2010 from a year earlier, the customs bureau said, more than the 32% median estimate in a Bloomberg News survey of 32 economists. None expected such a big gain. Real-estate prices rose 12.4% across 70 cities, the statistics bureau said separately. (Bloomberg)

China : Property prices rise more-than-estimated 12.4% YoY in May compared with a record 12.8% YoY increase in April. The data series, covering 70 cities, began in 2005. The value of sales slid 25% MoM from the previous month. (Source: Bloomberg)

EU: Trichet Says ECB to keep buying bonds to fight crisis
Jean-Claude Trichet said the European Central Bank (ECB) will extend its offerings of unlimited cash and keep buying government bonds as it tries to ease tensions in money markets and fight the European debt crisis. The ECB is buying state debt and pumping unlimited funds into the banking system as part of a strategy by European policy makers to stop the euro region from breaking apart. (Bloomberg)

E.U : World Bank says some nations risk 'double-dip'. Some European nations may experience a second economic slowdown if the region fails to manage its debt crisis, threatening countries from Central Asia to Latin America, the World Bank said. "We're expecting that growth in the second quarter is also likely to be disappointing, quite possibly seeing negative growth in several European countries and a double dip in some of these economies," Andrew Burns, the World Bank's manager of global macroeconomics, said at a press briefing. (Source: Bloomberg)

US: Trade deficit widens as exports fall
The trade deficit in the US widened in April 2010 to the highest in more than a year as exports and imports both declined. The gap grew 0.6% to USD40.3bn, the most since December 2008, Commerce Department figures showed in Washington. (Bloomberg)

U.S : Jobless claims decreased last week to 456,000 as it fell by 3,000 in the week ended June 5. The number of people receiving unemployment insurance fell to the lowest level since 2008, while those getting extended payments climbed. (Source: Bloomberg)