Retail sales in the UK dropped 3.4% year over year on a like-for-like basis in April, against the 3.1% rise in the previous month, according to data from the British Retail Consortium published Tuesday.
The reading, which missed market expectations of a 0.8% increase, marked the first fall in retail activity since November 2024.
BRC attributed the contraction to the Easter shift and weak consumer confidence amid the Middle East conflict.
Malaysia's unemployment rate stood at 2.9% in March, unchanged from the previous month, according to data released by the country's Department of Statistics on Tuesday.The number of unemployed persons in Malaysia rose 0.4% to 509,000 in March from 506,800 in February.The number of employed persons also edged up 0.1% to 16.80 million, while the employment-to-population ratio remained steady at 68.8%.The Southeast Asian country's labor force expanded 0.1% month over month to 17.31 million, with the labor force participation rate unchanged at 70.9%, the data showed.
Tax increases appear unlikely, but some spending restraint is possible in the upcoming New Zealand budget, as a restraint could reduce inflation pressure, limit debt growth, and lower downgrade risk, ANZ Research said in a Tuesday report.ANZ noted that previous estimates suggested oil-shock impacts could add NZ$10 billion in debt issuance by 2030, while weaker growth forecasts now lift that estimate to NZ$15 billion, but cutting budget allowances by NZ$1 billion per year could reduce the increase to about NZ$5 billion.The bank believes that budget 2026 will be challenging as the government balances economic support, inflation risks, and debt sustainability.
The Philippines recorded net foreign direct investment (FDI) inflows of $590 million in February, according to data released by the Bangko Sentral ng Pilipinas on Tuesday.The United States emerging as the largest source of investments.Firms in the financial and insurance sector attracted the biggest share of inflows during the month.Cumulative FDI net inflows for January and February stood at $1 billion, the central bank said.