Macroeconomy

  • 2015-03-30 21:03


    TOKYO (MNI) - Japan's Ministry of Health, Labour and Welfare has delayed Tuesday's release of February wages data at least for a few days to fix an error found in the statistical revision of the most recent and historical data, a ministry official said.

    "We found a mismatch between the indexes and their year-on-year changes when we tried to smooth out the gap in data between the new sample of surveyed firms and the previous one," he said.

  • 2015-03-30 19:05


    -UK Mar GfK Consumer Confidence Index 4 Vs 1 in Feb

    LONDON (MNI) - UK consumer confidence rose in March to its highest level since September 2002, a survey finds.

    The GfK UK Consumer Confidence Index rose to 4 in March from 1 in February, matching its September 2002 outturn.

  • 2015-03-30 10:30


    --Many Industries Show Rising Demand for Big-Ticket Purchases
    --Surging Capital Availability Squeezes Margins for Some Companies

    PHILADELPHIA (MNI) - New business reported by U.S.

  • 2015-03-30 08:30


    --IPPI -1.6% Y/Y; RMPI +6.1% M/M; -21.8% Y/Y
    --Excluding Impact of CAD Depreciation Vs. USD, IPPI +1.0% M/M

    OTTAWA (MNI) - In their first increase in six months, Canadian industrial product prices rebounded by 1.8% in February on widespread gains led by energy and petroleum products, while the pass-through effect from the depreciation of the loonie continued to be felt, Statistics Canada reported Monday.

    The energy sector also contributed to the 6.1% increase in raw materials prices over the month, the largest gain since a 6.2% advance in June 2009, following a 7.8% decrease in January.

    On a 12-month basis, the industrial product price index was still down 1.6%, following a 2.1% decline in January.

  • 2015-03-30 05:00


    --Consumer Confidence surges on employment, savings prospects

    LONDON (MNI) - Eurozone economic sentiment rose for the third consecutive month in March, data from the European Commission showed Monday, as selling and consumer price expectations continued to rebound amid the region's broader economic recovery.

    The Commission's Economic Sentiment Index (ESI) for the currency area was measured at 103.9 in March from an upwardly-revised 102.3 in February (102.1) and firmly ahead of the 103.0 figure forecast in a poll conducted by MNI. Economic sentiment rose by +0.9 points to 106.1 in the wider European Union, the Commission said.

    "The improvement in euro-area sentiment was fuelled by brightening confidence among consumers, but confidence also improved am

  • 2015-03-30 04:30


    -BOE Feb net secured lending change stg1.741bn; stg1.598bn Jan -BOE UK Effective new, stock secured loan rates lowest on record

    By David Robinson

    LONDON (MNI) - Mortgage approvals rose in February with the average interest rates on both new, and outstanding, mortgages falling to new lows, Bank of England data published Monday show.

    The BOE's Money and Credit statistics showed the growth in unsecured borrowing slowing in February compared to January but mortgage lending accelerating. Mortgage approvals in February rose to 61,760 from 60,707 in January, the highest reading since August last year.

    Mortgage lending is being supported by lenders offering the lowest interest rates on record.

  • 2015-03-29 20:36


    --Japan Feb Industrial Output -3.4% M/M, MNI Median -1.7%
    --Japan Feb Industrial Output Posts 1st Drop in 3 Months
    --METI Forecast Index: Mar Output -2.0% M/M, Apr +3.6%
    --Japan METI Repeats: Industrial Output Shows Gradual Pickup
    --Japan Feb Industrial Inventories +0.5% M/M 1st Rise in 3 Months
    --Japan Feb Industrial Shipments -3.4% M/M, 1st Drop in 3 Months

    TOKYO (MNI) - Preliminary industrial production data released Monday by the Ministry of Economy, Trade and Industry:

    FACTORS: Japan's industrial production slumped 3.4% on month in February, much weaker than the MNI median economist forecast of -1.7%, in light of weak overseas demand.

  • 2015-03-29 19:14


    TOKYO (MNI) - Bank of Japan Governor Haruhiko Kuroda Saturday said the base effect of lower crude oil prices on consumer prices is likely to start to fade this autumn (from September to November).

    On a television program, Kuroda said the year-on-year change in consumer prices is expected to remain weak for the first half of fiscal 2015 starting on April 1 but that it "will accelerate in the autumn onward."

    Japan's consumer prices are likely to approach the bank's 2% price target afterward, he said.

    Kuroda also said the economy is on a modest recovery track.

    Excluding the direct impact of the April consumption tax hike, the February core CPI is estimated by the BOJ to be zero, slowing from +0.2% in January and +1.5% in April, the latest data showed.

    Aske

  • 2015-03-27 10:32


    --Rejections of Credit Card Limit Hikes Decrease

    WASHINGTON (MNI) - The New York Fed survey taken three times a year Friday gave a faint signal of stronger credit demand, particularly for mortgage refinancing, but its overall finding appeared to be the continuing lack of enthusiasm to plunge back into heavier debt.

    The most striking illustration in the report appeared to be the bar graph that showed a nearly imperceptible change in the rate of credit applications and the proportions that were accepted, rejected and discouraged going back to late 2013.

    In a post on the Bank's Liberty Street blog, the report was characterized as showing "little change in application rates for credit over the last 12 months, but a decline in rejection rates, in particular fo

  • 2015-03-27 10:30


    WASHINGTON (MNI) - U.S. consumer sentiment bounced back from its dip in the early part of March but was still down compared to last month, as both consumers' views of current conditions and their expectations for the future declined from February's levels, according to the University of Michigan Consumer Sentiment survey released Friday.

    The final reading of the March consumer sentiment index was above expectations, coming in at 93.0 compared to 91.2 in the preliminary report, but vs. 95.4 in February. The index was at 98.1 in January and 93.6 in December.

    The index's measure of how consumers view current conditions rose to 105.0 from the 103.0 flash estimate, and compared to 106.9 in February.