China's surveyed urban unemployment rate rose to 5.3% in August from 5.1% the previous month, according to data from the National Bureau of Statistics on Tuesday.
The reading wrong-footed analysts polled by Investing.com, who had expected the rate to remain unchanged at 5.2%.
The surveyed unemployment rate in 31 major cities stood at 5.3%, rising from 5.2% the prior month.
Meanwhile, the average working hour per employee in August was 48.2 hours per week, unchanged from the previous month.
The Infometrics-Foodstuffs New Zealand Grocery Supplier Cost Index showed an average 1.9% year-over-year increase in supplier costs for supermarkets in August, unchanged from July's result, according to an Infometrics report on Monday.Supplier costs rose across all departments in August compared with a year earlier, with seafood and butchery costs remaining higher due to sustained global demand and pricing trends, although the pace of cost growth for chilled foods slowed a little amid slightly lower dairy costs."The August data continues a recent trend of a more elevated number of cost increases being recorded, but at a less intense pace than originally expected," said Brad Olsen, principal economist at Infometrics."Broader input cost data shows businesses were either less willing to raise costs, or unable to respond as quickly as the knock-on economic effects of the Middle East conflict emerged," Olsen added.The renewed conflict continues to cloud the cost outlook for the remainder of this year, with oil prices moving higher again and raising expectations for further cost adjustments in the coming months, Olsen said.
Australia's consumer price index (CPI) is expected to rise 0.4% in August from the previous month, which would increase the annual pace of inflation to 4% from 3.5% in July, Westpac said in a Monday report.The bank expects a 0.7% monthly CPI increase on a seasonally adjusted basis.Meanwhile, the August trimmed mean measure of underlying inflation is expected to rise 0.2%, down from the 0.4% average over the previous three months and holding the annual pace steady at 3.6%, the bank said.Westpac also revised its CPI estimate for the third quarter to 1.3% from 1.1% previously, and now expects the quarterly trimmed mean to print at 0.9%, compared with a previous call of 0.8%."A stronger-than-expected July set a higher starting point which we expect to be partially unwound in August-September," the bank said, adding that it still foresees a moderation in the fourth quarter with the trimmed mean reading expected at 0.7%.Westpac now sees annual headline inflation at 2.4% by the end of 2027 and at 2.3% by the close of 2028, noting that its year-ended estimates are below the Reserve Bank of Australia's current forecasts.
New Zealand farmer perceptions of present general economic conditions strengthened further to a net 37% viewing conditions as good in January, the strongest reading since 2017, according to the Federated Farmers' January Farm Confidence Survey released on Monday.The result indicates continued benefits from official cash rate cuts to 2.25%, strong commodity prices, and reduced debt servicing costs.In January 2025, farmer confidence rose 68 points since July 2024, rebounding to a net positive score of 2% from negative 66%.Forward sentiment in January was modestly positive at net 4%, down from 6% in July 2025, signaling a shift away from negativity since 2014. However, cost pressures and market volatility concerns continue to create a gap between strong current performance and a cautious future outlook.Current farm profitability reached a record 70%, with the recovery across most sectors stable, but profit expectations turned negative for the first time since early 2024, with a 21-point drop driven by dairy's decline to negative 32% due to margin concerns.