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British Monthly Industrial Production Rises 0.5% in February

UK industrial production rose 0.5% month over month in February, following a 0.1% drop in January, the Office for National Statistics said Thursday.Analysts expected a 0.2% growth for the month.On a yearly basis, UK industrial output was 0.4% lower, against the revised 0.5% increase earlier and the consensus estimate of a 0.9% fall.

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UK's Monthly GDP Rises 0.5% in February

The UK's gross domestic product expanded 0.5% month over month in February, following a revised 0.1% growth in January, the Office for National Statistics said Thursday.The reading is consistent with analysts' expectations for the month.On a yearly basis, the British economy grew 1%, against the prior revised 0.7% increase and the market forecast of a 0.6% jump.

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Market Chatter: ECB to Reportedly Hold Rates Steady in April Meeting Amid Ongoing Iran War

European Central Bank policymakers are inclined to leave interest rates unchanged in April, opting to wait for clarity on the economic impact of the ongoing Middle East conflict, Bloomberg News reported Wednesday.Citing people familiar with the discussion, the news outlet said ECB officials believe current financing conditions are anchoring inflation expectations, rendering a rate hike announcement during the April 29 to April 30 meeting unnecessary for now. The war-driven spike in energy prices sent annual inflation higher to 2.5% across the 21-nation bloc in March.ECB did not immediately respond to a request for comment from.(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.)

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China Logs Forex Surplus of $16 Billion in March

Banks in China logged a foreign exchange settlement surplus of $16 billion in March, according to data from the State Administration of Foreign Exchange released Wednesday.Chinese banks purchased $257.6 billion and sold $273.6 billion in foreign exchange, the filing said.In renminbi terms, the country's banks held a surplus of 110.3 billion yuan, with forex purchases at 1.889 trillion yuan and sales of 1.779 trillion yuan.

China Industrial Output Slows in March

Chinese industrial output growth slowed to 5.7% in March, down from a growth of 6.3% in the January-February period, according to data from the National Bureau of Statistics released Thursday.Industrial output in the year-ago period was 7.7%, the NBS said.Output for the mining sector rose 5.7% year over year, while that of the manufacturing sector jumped 6%, and that of the utilities sector increased 3.5%.

Chinese Industrial Capacity Utilization Slides in Q1

China's industrial capacity utilization rate stood at 73.6% in the first quarter, according to data from the National Bureau of Statistics released Thursday.The indicator fell 1.3 percentage points from the fourth quarter, the NBS said.Capacity utilization in the mining sector was 72.1%, while that of the manufacturing sector reached 73.9%, and that of the utilities sector was 71.9%, according to the bureau.Capacity utilization is the ratio of actual output to production capacity, the NBS said.

Australia's Unemployment Rate to Average 4.5% Over December Quarter, ANZ Research Says

The higher interest rates and increased economic uncertainty are expected to weigh on labor demand, with the unemployment rate to average 4.5% over the final quarter of the year, ANZ Research said in a note on Thursday.Australia's seasonally adjusted unemployment rate remained at 4.3% in March, unchanged from the previous month, data from the Australian Bureau of Statistics showed. The total number of employed people increased by 17,900, bringing the total to 14.8 million.The bank expects to see some softening in the labor market over the coming months in the wake of the conflict in the Middle East.It expects a "subtle shift" in the Reserve Bank of Australia's characterization of labor market conditions following next month's monetary policy board meeting and it expects the central bank will drop the assessment that conditions have tightened recently.

India's Gems and Jewelry Declines 35% in March

India's overall gross exports of gems and jewelry declined sharply by 35.2% in March to $1.78 billion from $27.5 billion a year ago, amid the heightened geopolitical tensions, the Gem and Jewellery Export Promotion Council (GJEPC) said in a recent statement.The overall gross imports of gems and jewelry in the reported month, however, rose 16.7% year-on-year to $2.31 billion from $1.98 billion.For the full fiscal year ended March 31, the country's gems and jewelry exports declined 3.3% to $27.7 billion from $28.7 billion a year ago. Meanwhile, the gross imports of gems and jewelry grew 17% to $22.8 billion from $19.5 billion a year earlier.Exports to the US slipped 45% from a year earlier to $5.09 billion from $9.24 billion a year ago, dragged by the disruption of exports for a number of months after the US imposed reciprocal tariffs and later added a further 25% duty on Indian goods.

Employment Growth Trend in Australia Was Positive Before Middle East Conflict Started, Westpac Says

The March labor force data in Australia was broadly in line with expectations, and the trend for employment growth was turning more positive before the onset of the Middle East conflict, Westpac said in a note on Thursday.The lender cautioned that it is too early to expect flow-on effects from the Middle East conflict or from recent interest rate rises to be appearing in labor market measures. The data instead gives a picture of the starting point for the labor market before these forces impact.Australia's seasonally adjusted unemployment rate remained at 4.3% in March, unchanged from the previous month, data from the Australian Bureau of Statistics showed. The total number of employed people increased by 17,900, bringing the total to 14.8 million. Westpac's forecast for employment was 25,000.The data provided clarity that lower unemployment rates around the turn of the year were a result of temporarily weaker participation, not a sustained re-tightening, per the note.The bank's baseline forecast assumes an eight-week closure of the Strait of Hormuz and a gradual recovery in shipping and transit afterwards. In such a case, trimmed mean inflation is expected to peak at around 4% on an annual basis in the second half, and the central bank is expected deliver three more rate hikes in May, June, and August.The labor market is likely to be a "lagging indicator" of the economy, and any flow-through from higher fuel prices or global uncertainty is more likely to show up later in the year, Westpac added. It forecast the unemployment rate to lift to a quarter-average of 4.9% and stay around that level over 2027 as interest rate rises impact.

China's Economy Expands 5% in Q1

China's gross domestic product in the first quarter rose 5%, according to Thursday data from the National Bureau of Statistics.The official data beat the 4.8% growth forecasted by Reuters-surveyed analysts.The data was attributed to an acceleration in the growth of the country's production and supply and improving market demand, as well as a rebound in market prices and stable employment.

China Logs 1.7% Rise in Q1 Fixed Asset Investment

China's fixed asset investment rose 1.7% year over year to 10.3 trillion yuan in the first three months of the year.Private fixed asset investment decreased 2.2%, according to a Thursday news release by the National Bureau of Statistics.Industrial investment climbed 5.8%, while infrastructure investment increased 8.9%.On a monthly basis, fixed asset investment, excluding rural households, increased 0.5% in March.

China's Urban Unemployment Unchanged at 5.4% in Q1

China's urban unemployment rate was unchanged year over year at 5.3% in the first quarter, according to data from China's National Bureau of Statistics.In March, urban unemployment rate was 5.4%. The unemployment rate was 5.4% for domestic laborers and 5.3% for migrant workers.The national average weekly working hours for employees was 48.1 hours.

Hong Kong Records HK$2.11 Billion in Land Premiums in Q1 2026

Hong Kong registered 13 lease modifications and two land exchanges in the Land Registry during the first quarter of the year, realizing a total land premium of HK$2.11 billion in the first quarter of 2026, according to figures released by the Lands Department Wednesday.The premium represents a drop of 41% on a quarter-on-quarter basis, but a rise of 2% on an annual basis.

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India's Total Exports Decline 4.58% in March; Trade Deficit Narrows

India's total exports of goods and services declined 4.58% to $74.11 billion in March from $77.67 billion a year ago, according to data released by the Ministry of Commerce & Industry on Wednesday.Total imports also fell 5.76% year-over-year to $76.55 billion in March from $81.22 billion, leading to a trade deficit of $2.44 billion, compared with $3.55 billion a year ago.The country's exports of goods slipped to $38.92 billion in March, from $42.05 billion a year earlier, while services exports were marginally down to $35.20 billion, from $35.63 billion.On the import side, goods imports declined to $59.59 billion in the reported month from $63.74 billion a year earlier, while services imports were down to $16.96 billion from $17.48 billion.

India's Wholesale Price Inflation Accelerates to 3.88% in March

India's wholesale price inflation, measured by the Wholesale Price Index (WPI), rose to 3.88% in March from 2.13% in February, according to data released by the Ministry of Commerce and Industry on Wednesday.In the same month last year, wholesale inflation was lower at 2.25%.The rise in WPI was attributed to an increase in prices of crude petroleum and natural gas, other manufacturing, non-food articles, the manufacture of basic metals, and food articles, among others.The index for primary articles increased by 6.36% year-on-year to 197.3 in March from 192.9 in the previous month, while fuel and power inflation rose by 1.05% to 153.7 in the reported month from 147.6 in February.Manufactured products, the largest component of the WPI basket, were up by 3.39% to 149.5 in March from 148.2 a month ago.

Australian Consumer Inflation Expectations Rise in April

Australia's consumer inflation expectations rose by 0.7 percentage points in April to 5.9%, driven largely by a recent spike in oil prices, according to the Melbourne Institute Survey of Consumer Inflationary Expectations on Thursday.Trimmed mean measure in April has reached its highest level since November 2022, while trimmed mean wage expectations have remained unchanged over the past five months, the survey added.

Australia's Unemployment Rate Steady at 4.3% in March

Australia's seasonally adjusted unemployment rate remained at 4.3% in March, unchanged from the previous month, data from the Australian Bureau of Statistics showed Thursday.The consensus forecast was also for 4.3%, according to Trading Economics.The total number of employed people increased by 17,900, bringing the total to 14.8 million.Employment growth was led by an increase of 53,000 full-time workers in March, which was partly offset by a decrease of 35,000 part-time workers, said Sean Crick, the bureau's head of labor statistics.The participation rate edged down 0.1 percentage points to nearly 67% compared with the previous month. The underemployment rate, which refers to the share of workers who want and are available to work additional hours, was flat at 5.9%.The employment-to-population ratio remained at 64%, the report said. Monthly hours worked across all jobs increased by 9 million hours to 2.02 billion hours in March.

Australia Household Spending Up 2.9% in March, CommBank Says

Australia's household spending rose 2.9% in March, after a 0.4% fall in February, as transport spending surged 22.9%, according to the Commonwealth Bank of Australia's Household Spending Insights published Thursday.Household spending was up 1%, even excluding transport costs, which were inflated by higher fuel prices, with all 12 categories recording monthly increases, the report added."As expected, the sharp March lift in household spending reflects higher petrol prices as a result of the conflict in the Middle East," CBA Head of Australian Economics Belinda Allen said.The bank expects household spending to slow as real household disposable income growth weakens, easing inflation pressures over time, with the outlook for consumers critical to the movement of interest rates beyond May.Hospitality spending increased 1.2%, and recreation rose 0.9% over the month. Utilities spending rose 6.9% while spending on insurance climbed 2.5%.The bank said that while higher fuel prices initially lifted spending, regional areas are more exposed to prolonged increases given the heavy reliance of agricultural, mining, and freight industries on diesel-intensive operations.Allen added that regional spending is likely to soften if elevated fuel prices persist.

India's Unemployment Rate Rises to 5.1% in March

India's unemployment rate rose to 5.1% in March from from 4.9% in February, driven by the urban unemployment rate, according to government data released by the Ministry of Statistics & Programme Implementation on Wednesday.Unemployment in urban areas rose to 6.8% in March from 6.6% in the previous month, while rural unemployment was up at 4.3% in March from the previous month's level of 4.2%.Female unemployment increased to 5.3% in the reported month from 5.1% a month ago. The rural female unemployment rate rose to 4.1% from 4.0%, while the urban female unemployment rate climbed to 9.0% in March from 8.7% in the previous month.The male unemployment rate also rose to 5.0% in March from 4.8% in February. Rural male unemployment rate in March grew to 4.4% from 4.2% in the preceding month, while urban male unemployment rate moved up to 6.1% in the reported month, from 5.9%.India's overall Labour Force Participation Rate slipped to 55.4% in March, compared with 55.9% in the previous month.