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India's Private Sector Growth Gathers Pace in April after Slowdown in March

India's private sector growth accelerated its pace in April after slowing down in March amid the Middle East war.The HSBC Flash India Composite Output Index, which comprises indices for the manufacturing and service sectors, rose to 58.3 in April from 57.0 in the preceding month, according to HSBC Flash PMI data released on Thursday.The seasonally adjusted index, which tracks month-on-month output across manufacturing and services, remained comfortably above the 50.0 threshold, indicating expansion."Survey participants indicated that business activity was supported by capacity expansion, better demand conditions, rising intakes of new work and tech investment," S&P said.New orders in April also grew at a quicker pace than in March.Overall business conditions in April improved to a greater extent than in March indicated by the HSBC Flash India Manufacturing PMI rising to 55.9 from 53.9 in March. The HSBC Flash India Services PMI Business Activity Index, also rose marginally to 57.9 in April compared with 57.5 seen in March."Manufacturing led the upturn, with faster growth in output and new orders. The survey indicated that firms are building buffer stocks to manage the uncertainties around the longevity of the supply-side shock,," Pranjul Bhandari, Chief India Economist at HSBC, said.Input cost pressures, however remained higher, and companies passed through part of the increase through higher sellingprices.The report indicated that Indian private-sector companies expected an increase in output over the next 12 months, driven by marketing efforts which will support demand for their goods and services.While projects pending approval and rising client enquiries also heightened optimism, the overall level of confidence fell since March, but was the second-highest in nearly a year-and-a-half.

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International16d ago

Saudi Arabia's Trade Surplus Rises MoM in February

Saudi Arabia's merchandise trade surplus came in at 22.95 billion Saudi riyals in February, up from the revised 14.0 billion riyals in the prior month, General Authority for Statistics data showed Thursday.Merchandise exports totaled 99.08 billion riyals, 4.7% higher year over year, while merchandise imports increased 6.6% to 76.13 billion riyals.

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International16d ago

UK Public Sector Net Borrowing Decreases in March

Public sector net borrowing in the UK, excluding public sector banks, stood at 12.61 billion pounds sterling in March 2026, 1.4 billion pounds less than in the prior-year period.The latest figure marked the lowest March reading since 2022, not adjusted for inflation, according to data from the Office for National Statistics published Thursday. A month earlier, the reading was a revised surplus of 12.82 billion pounds.Analysts expected a surplus of 10.4 billion pounds for the month.

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International16d ago

Singapore's Core Inflation Rises Faster in March

Singapore's core inflation, which excludes the cost of accommodation and private transport, rose 1.7% year on year in March from 1.4% in the previous month, according to a joint release by the Monetary Authority of Singapore and the Ministry of Trade and Industry on Thursday.The headline consumer price index, representing overall inflation, climbed 1.8% year on year in the month, due to higher transport and core inflation.On a month-on-month basis, core inflation inched up 0.1%, while overall inflation was up 0.5%.Core inflation and overall inflation are currently projected to average 1.5% to 2.5% in 2026, the report said.

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International16d ago

Australia's Job Ads Fall in March

Job advertisements in Australia in March fell 0.4% month on month, 1.3% quarter on quarter, and 2.9% year on year, according to data published by Seek on Thursday.Job ads have declined at the same pace since September, while applications per job ad slipped 0.4% month on month.Hiring activity slowed on a monthly basis across the eastern seaboard, but grew in Western Australia by 0.4% and in the Northern Territory by 0.2%.Western Australia is the only state or territory where ad volumes have grown annually, up 1.6%.Job ad volume rose in five industries month on month, led by mining, resources, and energy, up 1.7%, engineering, up 1.4%, and consulting and strategy, up 0.6%.Annual growth in hiring was restricted to resources, trades, and infrastructure-related industries, with engineering leading at 7.9%.References to artificial intelligence-related skills within job ads have risen past 75% year on year.

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International16d ago

New Zealand Housing Market Sales Volumes Fall For Third Consecutive Month in March, Cotality Says

Sales volumes continued to decline across New Zealand's housing market for the third consecutive month in March, down 2.4% year-over-year, Cotality said in a Thursday report.Sales volumes declined by 7.6% in January and 3.1% in February, according to Cotality's NZ Monthly Housing Chart Pack.The three subdued months in a row indicate a weaker first quarter than expected, Cotality NZ Chief Property Economist Kelvin Davidson said. "It's not a sharp downturn, but it does show that confidence is still muted."National median property values rose 0.2% in March and 0.3% during the March quarter. Values across Auckland were down 0.2% over the three months ended March 31 and 3.4% lower year-over-year. Christchurch recorded a gain of 1.1% over the quarter and 2.4% year-over-year.Soft rental conditions saw rents fall 0.4% year-over-year, though gross yields hit a high of 3.9%.First home buyers dominated the market at 27% of March quarter sales, well above their long-term average of 22%.Global uncertainty, along with higher inflation and interest rate expectations, continues to weigh on confidence, Davidson added.

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International16d ago

Indonesia's Money Supply Growth Quickens to 9.7% in March

Indonesia's broad money supply (M2) grew 9.7% year-on-year in March to 10,355.1 trillion rupiah, according to central bank data.The latest expansion accelerated from the 8.7% growth in February, as narrow money (M1) increased 14.4% and quasi-money climebd 5.2%.The growth in M2 was mainly driven by stronger net claims on the central government, which surged 39.2% in March versus 25.6% in February.Disbursed loans also contributed, rising 8.9% year-on-year, unchanged from the previous month's pace, Bank Indonesia said.

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International16d ago

EU New Car Registrations Rise 12.5% in March

The European Union's new car registrations increased 12.5% year over year to 1,158,316 units in March, according to data from the European Automobile Manufacturers' Association published Thursday.In the first quarter of 2026, new car registrations in the EU totaled 2,822,616 units, reflecting a 4% annual jump.

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International16d ago

New Zealand Credit Card Spending Rises in March as Balances Decline

Credit card spending in New Zealand increased by 0.7% month on month to NZ$4.87 billion in March after a 0.1% increase in the previous month, while credit card balances fell 0.5% to NZ$6.08 billion in March, data from the Reserve Bank of New Zealand showed Thursday.Domestic billings on New Zealand-issued cards rose by 0.8% to NZ$4.14 billion in March, following a 0.2% decrease in the previous month. Billings on overseas-issued cards fell to NZ$726 million from NZ$748 million.Compared with the year-earlier period, credit card spending rose 2.1% in March after a 0.6% increase a year ago.

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International16d ago

Moody's Revises Outlook on New Zealand to Negative; Finance Minister Willis Flags Debt Servicing

Moody's has revised its outlook on New Zealand's AAA credit rating to negative from stable in a move that again signals a need for checks on spending and borrowing, Finance Minister Nicola Willis said Thursday following the ratings agency's outlook cut."Moody's choice to put New Zealand on negative watch is another warning that we can't afford to simply spend more and borrow more, or we risk higher interest rates, higher borrowing costs and more pressure on Kiwi families," Willis said.In its decision, the ratings agency pointed to persistent inflation pressures, including fuel price hikes and higher electricity costs, as well as the country's delayed return to a budget surplus, according to media reports."The [outlook] revision also confirms the need for any support delivered in response to the Middle East conflict to be temporary and targeted," Willis said, adding that debt servicing now represents the fourth-largest cost to taxpayers.

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International17d ago

Japan's Manufacturing Output Growth Hits 12-Year High; Service Sector Expansion Slows

Japanese manufacturing output rose at its steepest rate since February 2014, although this rebound was tempered by a slower expansion in service sector activity, pulling overall private sector growth to its weakest pace in four months during April.The S&P Global Flash Japan PMI Composite Output Index dipped to 52.4 in April from 53.0 in March, remaining above the 50.0 threshold that separates expansion from contraction.While total activity has now expanded for 13 consecutive months, the latest reading marked the softest rate of growth seen so far in 2026.Some manufacturers raised output due to concerns over future supply shortages linked to the Middle East war, contributing to the sharp manufacturing uptick.In contrast, service sector activity grew at its mildest pace in 11 months, while new export business at the composite level rose at the slowest rate in four months.Employment continued its steady rise for over 2.5 years, though capacity pressures persisted as outstanding business levels increased for the fifth straight month.Average input costs surged at the sharpest rate since January 2023, driven by higher prices for staff, raw materials, fuel, and energy-often tied to Middle East developments and a weak yen.Goods producers experienced notably steeper cost inflation than service providers, pushing average output charges to rise at the quickest pace since composite data began in late 2007.Business confidence regarding future output weakened for the second consecutive month, falling to its lowest level since August 2020 due to uncertainty and market disruption from the Middle East war.

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International17d ago

Australia's Private Sector Stabilizes in April as Services Rebound

Australia's private sector activity stabilized in April after March's decline, as a modest recovery in services was offset by continued weakness in manufacturing amid soft domestic demand, rising cost pressures, and supply chain disruptions linked to Middle East tensions, according to a survey by S&P Global released Thursday.The Flash Australia PMI Composite Output Index rose to 50.1 in April from 46.6 in March, moving above the neutral threshold as renewed growth in services activity offset a faster decline in manufacturing output, the report said.A reading above the 50-point threshold indicates expansion.The Flash Services PMI Business Activity Index rose to 50.3 in April from 46.3 in March. The Flash Manufacturing Output Index edged down to 48.2 from 49.4, while the Flash Manufacturing PMI increased to 51 from 49.8.New business at Australian firms fell for a second consecutive month in April as geopolitical tensions weighed on client confidence and domestic demand, even as modest gains in export orders offered a partial offset, per the report.Business confidence slipped to its weakest level in nearly two and a half years in April amid rising cost and demand pressures, even as a pickup in private hiring helped firms clear backlogs at the start of the second quarter.Private sector inflation in Australia accelerated in April to its fastest pace since August 2022, as higher fuel and shipping costs drove up input prices and businesses passed on more of the burden to customers than at any time in three and a half years, the report said.Australia's manufacturing sector remained in contraction in April, with production falling for a third consecutive month and output declining at its fastest pace since late 2024, even as job and inventory reductions eased slightly.Manufacturers faced the sharpest supply chain disruption since mid-2022 in April, as Middle East conflict-driven shipping delays pushed input delivery times higher and drove inflation in both costs and selling prices to multi-year highs.

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International17d ago

South Korea's Consumer Sentiment Weakens in April

South Korea's composite consumer sentiment index fell to 99.2 in April from 107 in March, according to data released by the Bank of Korea on Thursday.A reading above 100 indicates an improvement in outlook, while a reading under 100 suggests pessimism.Sentiment toward current living standards was down three points to 91, while sentiment on the future outlook shed five points to 92.The outlook for future household income was down three points to 98, while the sentiment for future household spending also shed three points to 108.Optimism regarding current local economic conditions declined by 18 points to 68, and the reading for future domestic economic conditions was 10 points lower at 79.

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International17d ago

South Korea's Real GDP Rises 3.6% in Q1, Tops Estimates

South Korea's real gross domestic product increased 3.6% in the first quarter of 2026 from the same period last year, following a 1.6% annual expansion in the prior quarter, an advance estimate by the Bank of Korea indicated on Thursday.According to a median forecast of economists polled by Reuters, the country's real GDP was expected to grow 2.7%.On a quarterly basis, the economy grew by 1.7% in Q1, which also surpassed the Reuters estimate of 1%.Meanwhile, gross domestic income increased 12.3% on an on-year basis and 7.5% on an on-quarter basis in Q1, the release said.

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International17d ago

South Korea's GDP Growth Accelerates to 3.6% in Q1

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International17d ago

Daily Roundup of Key US Economic Data for April 22

The Mortgage Bankers Association reported a 7.9% gain in mortgage applications in the week ended April 17 after a 1.8% gain in the previous week.Refinancing activity and new home applications both surged in the week due to a decline in mortgage rates.Total crude oil inventories fell by 2.2 million barrels in the week ended April 17, with commercial oil inventories up 1.9 million barrels and stocks in the US Strategic Petroleum Reserve down 4.1 million barrels. Gasoline inventories and distillate inventories both decreased last week.

International17d ago

US Total Weekly EIA Crude Oil Stocks Fall by 2.2 Million Barrels After Prior 5.1 Million Decrease

International17d ago

February Unemployment Rate Rises in Florida, Steady Elsewhere

State-level data released by the Bureau of Labor Statistics Wednesday showed the unemployment rate in February rose in one steady and held steady in 49 states and the District of Columbia.The unemployment rate rose by 0.1 percentage point in Florida. South Dakota and Hawaii had the lowest rate at 2.3% each while Washington D.C. had the highest at 6.5%.The national unemployment rate was reported at 4.4% in February, up from 4.3% in January before falling back to 4.3% in March.Nonfarm payrolls increased in one state, fell in two and were little changed elsewhere. Nationwide nonfarm payrolls decreased by 133,000 in February after a 160,000 gain in January. Payrolls rose by 178,000 in March.The largest payrolls gain was in Arizona, which added 11,000 jobs, while the largest payrolls declines were in Illinois, where they fell by 17,800, and Nebraska, where they fell by 6,500.State-level payrolls data for March are due to be released on May 6.

International17d ago

Euro Area Consumer Confidence Drops in April, Flash Data Shows

The euro area's consumer confidence index stood at -20.6 points in April, lower than the revised -16.4 points in March, according to the European Commission's flash data published Wednesday.Analysts expected -18 points for the month, according to Investing.com.

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International17d ago

February Unemployment Rate Rises in Florida, Stable in Other States

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International17d ago

Australia's Private Sector Stabilizes in April as Services Rebound

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