Italy's calendar-adjusted construction output index increased 1.4% year over year in February, following a revised 0.4% decline in January, statistics agency Istat said Monday.
On a monthly basis, the country's seasonally adjusted construction output rose 0.5%, against the revised 1.1% fall earlier.
New Zealand's first-quarter consumer price index is anticipated to rise by 0.8% quarter on quarter and 2.9% year on year, which is slightly below the Reserve Bank of New Zealand's revised April forecast of 3%, brokerage firm BofA Securities said in an April 17 report.Headline inflation is driven by soaring fuel prices in March due to the Middle East conflict, with petrol prices surging nearly 19% and diesel by nearly 43% month on month.The Reserve Bank will continue to prioritize medium-term inflation pressures and expectations amid uncertain outlook stemming from the global energy shock, the brokerage firm said.Energy prices are expected to push headline inflation up in the second quarter, but "significant" spare capacity is anticipated to limit second round effects and weigh on non‐tradable inflation, per the report.
ANZ said it expects Australia's underlying cash deficit to be little changed from the Mid-Year Economic and Fiscal Outlook at AU$37 billion in fiscal 2025 to 2026 and AU$36 billion in fiscal 2026 to 2027, with deficits averaging about 1% of gross domestic product likely over the forward estimates through to fiscal 2029 to 2030, according to a Monday note by the bank.ANZ said it expects the budget to include additional temporary cost-of-living relief for households and businesses in the near term, including a possible extension of the fuel excise reduction.The bank said it expects a medium-term focus on energy security, given Australia's reliance on imported refined petroleum products, including via the Future Made in Australia package, alongside a previously announced increase in defense spending.ANZ said changes to the taxation of investment properties are expected to strengthen the fiscal position over the next decade and provide a path for revenues as a share of GDP to rise.
China kept its loan prime rate or LPR, which is the benchmark for new loans, unchanged after posting a better-than-expected economy amid the Middle East conflict.The People's Bank of China held the one-year LPR at 3% and the LPR of five years or more at 3.5% according to a Monday press release from the central bank.Analysts from ING expected no changes to the LPR, which was kept steady for the 11th consecutive month, following the country's first-quarter economy, which remained within the year's target range of 4.5% and 5%.The move came after China's gross domestic product posted a 5% growth in the first quarter, according to last week's data from the National Bureau of Statistics.