Thursday, January 10, 2013

20130110 1110 Local & Global Economy Related News.

Gross exports rose 3.3% yoy (-3.2% in Oct) while  gross imports  went up 4.3% yoy (+5.7% in Oct), leaving a trade surplus of RM9.3bn in Nov (RM9.6bn in Oct). Economists had projected the exports would increase by 1.9% yoy in Nov. For the first eleven months of 2012, exports and imports rose 1.3% and 7.1% respectively, resulting in a cumulative trade surplus of RM87.1bn. (Department of Statistics, BT)

Malaysian exporters may have shifted to markets away from Europe to developing and emerging economies, but some companies are still feeling the pinch from the eurozone crisis. For these exporters, problems of financing, a fall in orders and reduced demand from Europe for their goods have made a negative impact. (Malaysian Reserve)

OECD consumer prices rose 1.9% in the 12 months to Nov, compared with 2.2% in the 12 months to Oct. The drop in Nov followed three straight months of increase. (Dow Jones)

US oil output will jump 23% over the next two years to a quarter-century high of 7.92m bbl/day by 2014 (6.43m bbl/day in 2012), reducing demand for foreign supplies from the world's largest oil importer, according to a new official forecast by the Energy Information Agency. (AFP)

The US MBA mortgage applications index  rose 10.0% wow in the 4 Jan week (-14.8% in the earlier week), whilst the  refinance index  gained 12.0% wow (-23.3% in the earlier week). (Bloomberg)

The  Bank of Japan  will  consider easing monetary policy again  this month as it eyes doubling its inflation target, sources say, as weakness in the economy threatens to delay the country in getting out of deflation. (Reuters)

India's auto industry lowered its annual growth forecast for car sales to between zero and 1.0%, down from 1.0-3.0%, the third reduction this fiscal year, as a slowing economy and costlier loans keep buyers away from showrooms. (AFP)

The Society of  Indian Automobile Manufacturers (SIAM) said domestic car sales in Dec fell 12.5% yoy to 141,083 units. (AFP)

South Korea’s seasonally adjusted jobless rate in Dec stood at 3.0%, remaining unchanged since Oct. (AFP)

The  Bank of Thailand has maintained the  policy interest rate at 2.75%, despite rising concerns over personal-loan growth on the back of stimulus measures that gave a big boost to the economy in the final quarter of last year. (The Nation)

Vietnam’s domestic vehicle sales  fell 21.1% yoy in Dec (-4.1% in Nov). (Bloomberg)

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