Austria GDP Growth Eases Less Than Estimated Austrian economic growth moderated less than initially estimated in the first quarter, latest figures from Statistics Austria showed on Friday. Gross domestic product advanced 1.9 percent year-over-year in the March quarter, slower than the 2.6 percent rise in the December quarter. The first quarter figure was revised up slightly from 1.8 percent in the flash report published by the WIFO economic institute on April 28. "Despite a difficult economic environment, Austria's economy is proving robust and continuing to grow in the first quarter of 2023," Tobias Thomas, Statistics Austria Director General, said. ? "However, the growth momentum has flattened out ...
French Industrial Production Recovers In April France's industrial production rebounded in April with the sharp recovery in petroleum output, the statistical office INSEE reported Friday. Industrial output logged a monthly growth of 0.8 percent, reversing the 1.1 percent decrease in March. Production was expected to climb 0.3 percent. Similarly, manufacturing output advanced 0.7 percent, in contrast to the 1.1 percent fall in the prior month. Production of coke and refined petroleum products surged 23.6 percent after a 45.2 percent decline as the strikes in refineries were less significant than in March. Production of machinery and equipment goods gained 1.4 percent, while manufacture of food products and ...
European Economic News Preview: France Industrial Output Data Due Industrial production from France and unemployment from Spain are the only important economic data due on Friday. At 2.45 am ET, France's statistical office Insee publishes industrial output for April. Production is expected to grow 0.3 percent on month, in contrast to the 1.1 percent decrease in March. At 3.00 am ET, Spain's unemployment data is due. Economists forecast unemployment to fall 40,100 in May following a decrease of 73,900 in April. In the meantime, final GDP data is due from Austria. The preliminary estimate showed that the economy shrank 0.3 percent sequentially after remaining flat a quarter ago. At ...
Japan Monetary Base Declines 1.1% On Year In May The monetary base in Japan was down 1.1 percent on year in May, the Bank of Japan said on Friday - coming in at 672.732 trillion yen. That beat expectations for a decline of 1.4 percent following the upwardly revised 1.7 percent contraction in April (originally -1.9 percent). Banknotes in circulation was up 1.3 percent on year, while coins in circulation fell an annual 3.1 percent. Current account balances dropped 1.6 percent on year, including a 2.1 percent fall in reserve balances. The adjusted monetary base was down 0.7 percent. The material has been provided by InstaForex Company - www.instaforex.com
South Korea Consumer Prices Rise 0.3% In May Consumer prices in South Korea were up 03 percent on month in May, Statistics Korea said on Friday. That was shy of expectations for an increase of 0.5 percent following the 0.2 percent increase in April. On a yearly basis, inflation rose 3.3 percent - in line with forecasts and down from 3.7 percent in the previous month. Core CPI, which excludes volatile food costs, gained 0.4 percent on month and 4.3 percent on year after adding 0.4 percent on month and 4.6 percent on year in April. The material has been provided by InstaForex Company - www.instaforex.com
South Korea GDP Expands 0.3% In Q1 South Korea's gross domestic product was up a seasonally adjusted 0.3 percent on quarter in the first quarter of 2023, the Bank of Korea said on Friday. That was in line with expectations following the upwardly revised 0.3 percent contraction in the previous three months (originally -0.4 percent). Real gross national income (real GNI) increased by 1.9 percent in the first quarter of 2023 compared to the previous quarter. On an annualized basis, GDP climbed 0.9 percent, exceeding expectations for an increase of 0.8 percent following the 1.3 percent gain in the three months prior. The material has been provided ...
New Zealand Terms Of Trade Slips 1.5% In Q1 The terms of trade in New Zealand dropped a seasonally adjusted 1.5 percent on quarter in the first three months of 2023, Statistics New Zealand said on Friday. The missed expectations for a decline of 1.3 percent following the 1.8 percent increase in the previous three months. Export prices fell 6.9 percent in Q1, missing forecasts for a drop of 2.2 percent after easing 0.6 percent in the three months prior. Export volume rose 1.0 percent, beating forecasts for a flat reading after slumping 6.3 percent in the previous quarter. Import prices dropped 5.4 percent on quarter versus expectations for ...
South Korea GDP, Inflation Data Due On Friday South Korea will on Friday release Q1 numbers for gross domestic product, highlighting a modest day for Asia-Pacific economic activity. GDP is expected to add 0.3 percent on quarter and 0.8 percent on year after slipping 0.4 percent on quarter and rising 1.3 percent on year in the three months prior. South Korea also will see May numbers for consumer prices, with forecasts suggesting an increase of 0.5 percent on month and 3.3 percent on year. That follows the 0.2 percent monthly increase and the 3.7 percent yearly gain in April. Singapore will see April numbers for retail sales; in ...
Oil Futures Settle Sharply Higher Crude oil prices rose sharply on Thursday on hopes the OPEC and allies will announce a cut in production. Oil prices were also supported by a weak U.S. dollar, and the passage of the debt ceiling bill in the House of Representatives. Crude oil prices drifted down earlier in the day after data showed a large build in inventories, and on concerns about outlook for energy demand after data showed manufacturing activity slowed in several countries. Data released by the Energy Information Administration (EIA) showed crude inventories increased by 4.5 million barrels in the week ended May 26, as against ...
Treasuries See Further Upside Amid Progress On Debt Ceiling Bill After moving sharply higher over the two previous sessions, treasuries saw further upside during trading on Thursday. Bond prices gave back ground after an early advance but remained in positive territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.9 basis points to 3.608 percent. The continued strength among treasuries came after the House voted Wednesday night to approve the bill raising the U.S. debt ceiling. The House voted 314 to 117 in favor of the Fiscal Responsibility Act, with the legislation attracting support from both Democrats and Republicans. The legislation now ...
Gold Futures Settle Higher As Dollar Slips Gold futures settled higher on Thursday as the dollar dropped and bond yields fell amid improved risk sentiment. Gold prices were subdued earlier in the day despite the dollar's weakness and a drop in Treasury yields. However, the bullion found support and surged higher as the day progressed. Risk sentiment improved after the bill to raise debt limit and cap government spending in the U.S. was passed by a wide margin on late Wednesday. The U.S. Senate will vote on the bill later this week before President Joe Biden can sign it into law. The dollar index dropped to 103.53, ...
Austria Inflation Lowest Since June 2022 Austria's consumer price inflation in May fell to the lowest level since June 2022, preliminary estimates from Statistics Austria showed on Thursday. The consumer price index fell 8.8 percent yearly in May, following a 9.7 percent increase in April. "The main reason for this decline is the uninterrupted downward trend in fuel prices," Tobias Thomas, director general at Statistics Austria, said. "The upward trend in food prices continues to weaken." The EU measure of harmonized index of consumer prices, or HICP, gained 8.7 percent annually in May, following a 9.5 percent rise in the preceding month. On a monthly basis, ...