Britain's construction sector remained in a downturn in August amid declines in residential, commercial and civil engineering activity levels, S&P Global said Friday.
The S&P Global UK Construction PMI stood at 44.3, lower than the previous month's 44.7 and the consensus estimate of 45.8. The latest reading marks the 20th straight month the index came in below the neutral 50 threshold.
Auckland business confidence has rebounded over the past three months, with the share of businesses in the city rating overall confidence as negative or very negative, falling to 40% in August from 54% in May, while positive sentiment climbed to 26% from 15%, according to a Friday report by New Zealand's Auckland Business Chamber.The report said investment and hiring intentions in the city have both strengthened, with businesses planning to invest in the next 12 months rising to 59% from 50% and those planning to hire jumping to 50% from 36%, while only 8% of businesses now expect to reduce headcount.The share of businesses finding energy costs unaffordable dropped to 48% from 55%, although it remains well above February's 40%, while the share of businesses reporting fewer customers paying on time fell to 29% from 48%, the most significant improvement of any indicator in the survey, the report added.Consumer confidence and demand remains businesses' single biggest concern, cited by 64% of respondents, while inflation and interest rate anxiety eased to 46% from 55% and geopolitical and trade risk fell to 34% from 45% as the Iran conflict receded from front-of-mind, the report added.Auckland Business Chamber Chief Executive Simon Bridges said that the task for the next government, whoever forms it after November, is to give businesses the stability to keep building on the improvement.
India and Belgium aim to double bilateral trade over the next five years, with both countries seeking to deepen investment and economic cooperation across key sectors, according to a joint statement.The two sides welcomed the launch of an India-Belgium Investment Fast-Track Mechanism to facilitate investment flows and address business bottlenecks.India and Belgium also highlighted opportunities in semiconductors, pharmaceuticals, critical minerals, chemicals, defense, renewable energy, logistics, ports and advanced manufacturing, while calling for greater private-sector participation.
Australia's national dwelling prices fell 0.9% in August, marking the fifth straight month of declines, while the eight-capital city index fell 1.1% and is now 4.6% below its peak, according to a Thursday report by National Australia Bank (ASX:NAB).The bank said Sydney and Melbourne continue to lead declines, with Sydney prices falling 1.4% for the month to sit 7.1% below their recent peak, while Melbourne prices declined 1.1% to be 6.5% below their respective peak, with price declines also broadening across Brisbane, Perth and Adelaide.NAB believes that housing turnover is clearly slowing, with the median days on market rising to 38, the highest level since October 2022, while the value of new housing loan commitments fell 5.2% quarter on quarter in the second quarter, led by an over 10% decline in investor lending, the report added.NAB forecasts dwelling prices across the combined capitals to fall 5% over the year, with peak-to-trough declines of about 10% in Sydney and Melbourne and 2% to 4% in the mid-sized capitals, though the bank noted downside risk to its forecasts given its revised expectation for further Reserve Bank of Australia rate increases, it added.