New Zealand's seasonally adjusted volume of ready-mixed concrete rose 1.1% in the March quarter, following a 2.7% rise in the preceding three-month period, Stats NZ data showed Tuesday.
In actual terms, volume rose 1.8% year on year to 869,652 cubic meters.
In the year ended March, 3.7 million cubic meters of ready-mixed concrete were produced, down 3.8% from the prior corresponding period, per the report.
The ANZ-Roy Morgan Australian consumer confidence fell 3.1 points to 64.1 in the week of May 4 to May 10, ANZ reported Tuesday.The four-week moving average edged down 0.1 points to 65.9 points.Australian consumer confidence fell to near historic lows after the Reserve Bank of Australia (RBA) raised the cash rate to 4.35%, with broad-based declines led by a sharp drop in household finances despite a slight easing in inflation expectations on lower petrol prices, according to ANZ economist Sophia Angala.Household spending data for March indicates that higher fuel prices had not yet reduced consumer spending, but record-low consumer confidence suggests weaker demand ahead, reinforcing expectations that the RBA will keep the cash rate steady at 4.35% in the near term, Angala added.Weekly inflation expectations fell to 6.4% from 6.7%, while the current financial condition indicator for 12 months fell 4.1 points to 58.3. The future financial conditions for the next 12 months decreased to 74 points from 76.8.Short-term economic confidence for the next year fell 1 point to 55.9, while medium-term economic confidence for the next five years decreased to 71.8 points from 76.4.The "time to buy a major household item" subcategory fell 3.4 points to 60.3.
Japan's foreign reserve assets increased in April, supported by higher holdings in securities and valuation gains in gold assets, according to official data released Tuesday.Total reserve assets stood at $1.383 trillion at the end of April, up $8.25 billion from the previous month.Foreign currency reserves made up the bulk at $1.169 trillion, including $1.007 trillion in securities and $162.20 billion in deposits with foreign central banks and other financial institutions.Japan also held $61.05 billion in Special Drawing Rights and an IMF reserve position of $11.27 billion. Gold holdings were valued at $125.43 billion, based on 27.2 million fine troy ounces.Other reserve assets totaled $15.82 billion, while additional foreign currency assets stood at $33.52 billion, including loans to the Japan Bank for International Cooperation.On short-term positions, Japan reported $20 billion in long positions in foreign currency forwards and futures. Contingent short-term drains from collateral guarantees amounted to $8.14 billion in net outflows.
Household spending in Japan declined in March even as incomes continued to rise, according to government data released Tuesday.Average monthly consumption expenditures for two-or-more-person households stood at 334,701 yen, marking a 1.3% decrease in nominal terms and a 2.9% drop in real terms compared with the same month a year earlier.In contrast, worker households recorded stronger income growth. Average monthly income rose to 557,663 yen, up 6.4% in nominal terms and 4.7% in real terms from the previous year.