The New York Federal Reserve's services index jumped to 8.7 in July from minus 10.1 in June.
The index is the first services sector reading for July and suggests a return to expansion.
The business climate reading increased, but the readings for employment, wages and prices paid all decreased in the month but remained above their breakeven point.
Singapore developers sold 156 new private homes in June, Bloomberg News reported Wednesday, citing data released by the city-state's Urban Redevelopment Authority.Sales fell from 447 units in May and 272 a year earlier, marking the weakest monthly performance since February 2024, according to the report.Private home prices reportedly rose 0.5% in the second quarter, slowing from 0.9% in the previous three months, based on preliminary government estimates.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Thailand's National Energy Policy Council has approved seven measures to cut household electricity costs, expand competition in the clean energy market and ensure large power users pay their fair share of electricity system costs.The reforms include removing public electricity expenses, such as street lighting, from residential power bills and cutting the tariff for the first 200 units of household electricity to 3 baht per unit, according to a Wednesday announcement.The council also agreed to expand direct renewable power purchase agreements beyond data centers, allowing more industries to buy clean electricity directly from producers through third-party access to the grid.Separate electricity tariffs and infrastructure requirements will be introduced for data centres to prevent their costs from being passed on to other consumers. In addition, the council approved reforms to legacy renewable power purchase agreements and moved ahead with a 1,500-megawatt community solar programme under revised bidding rules to support wider access to clean energy.
Australian household spending rose 0.3% in June, with end-of-financial-year sales less impactful than in 2025, as inflation and higher-for-longer interest rates weighed on consumers, according to a Thursday report by Commonwealth Bank of Australia.The bank said gains were recorded across 10 of the 12 spending categories, led by utilities and education, while household goods had a soft month despite the sales period. Retail spending eased to 0.2% in June from 0.6% in May.Hospitality spending rose just 0.1% in June versus 0.9% in May, with sporting events hosted through the month doing little to boost growth, the report added. Recreation spending decelerated sharply from 2.3% in May to just 0.2% in June.Belinda Allen, CommBank head of Australian economics, said the softening is broadly in line with expectations that household spending will slow over the remainder of the year.Regional household spending growth accelerated in the year to June, with regional Queensland and regional Western Australia as the strongest performers, while metro New South Wales, the ACT, and metro Victoria as the weakest, per the report. Spending growth was strongest among those aged 65 and above at over 10% annually over the 12 months to June.