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Philippines' Exports Rise, Imports Fall in March; Total Trade Hits $20.2 Billion

The Philippines' total external trade in goods reached $20.16 billion in March, based on seasonally adjusted data released by the Philippine Statistics Authority on Thursday.Exports inched up 0.4% to $7.81 billion from $7.78 billion in February, supported by a 7% rise in manufactured goods, while mineral and agro-based products declined.Meanwhile, imports slid 2% to $12.35 billion from $12.60 billion, weighed down by lower consumer and capital goods imports, although raw materials and intermediate goods increased.Manufactured goods remained the country's top export category during the month, the data showed.

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International55d ago

Singapore's Loans to Residents Rise in March

Lending activity in Singapore expanded in March, with total loans and advances to residents rising to SG$902.3 billion from SG$893.6 billion in February, according to preliminary data released by the Monetary Authority of Singapore on Thursday.Of the total, loans to businesses grew to SG$547.59 billion from SG$541.49 billion a month prior.Consumer loans rose to SG$354.67 billion in March from SG$352.16 billion a month earlier, with housing and bridging loans comprising SG$248.3 billion.

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International55d ago

SMMT: UK's Total Vehicle Production Falls 8.2% in March

Britain's total vehicle manufacturing dropped 8.2% year over year to 72,511 units in March, the Society of Motor Manufacturers and Traders said Thursday.Car production declined 0.8% to 69,755 units, while commercial vehicle output plunged 68.3% to 2,756 units.In the 12 months to March, total vehicle manufacturing decreased 13% to 208,088 units.

FTSE 100

International55d ago

New Zealand Total Lending Rises in March

New Zealand's total lending edged higher in March, driven by a rise in housing and agricultural loans, even as personal consumer and business lending declined, according to data from the Reserve Bank of New Zealand released on Thursday.Total housing loans from registered banks and non-bank lending institutions in New Zealand grew to NZ$395.64 billion in March from NZ$393.61 billion in February. Total personal consumer lending fell to NZ$14.54 billion in March from NZ$14.66 billion in the previous month.Total business lending decreased to NZ$142.66 billion in the period, from NZ$142.76 billion. Meanwhile, agricultural lending climbed to NZ$63.63 billion in March, from NZ$63.39 billion in the previous month.

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International55d ago

China's Manufacturing Sector Grows at Slower Pace in April

China's manufacturing purchasing managers' index was down 0.1 of a percentage point month on month to 50.3% in April, according to a Thursday news release from the National Bureau of Statistics.The PMI for large enterprises was down 1.4 percentage points to 50.2%. The PMIs for medium and small enterprises rose 1.5 and 0.8 percentage points, respectively, to 50.5% and 50.1%.The production and new orders sub-indices remained above the critical point at 51.5% and 50.6%, respectively. The remaining sub-indices for raw material, employment and supplier delivery time were below the critical points at 49.3%, 48.8% and 49.5%, respectively.Meanwhile, the non-manufacturing business activity index was 49.4%, down 0.7 of a percentage point from March.The composite PMI output index was 50.1%, down 0.4 of a percentage point.

Shanghai Composite^SZSE

International55d ago

Business Confidence in New Zealand Turns Negative in April, ANZ Says

Business confidence in New Zealand turned negative in April, falling to minus 10.6 from 32.5 in the previous month, as inflation indicators continued to trend higher, ANZ Research said in a Thursday report."Firms are understandably concerned about the outlook for their activity and profitability in the face of this significant cost shock," the research firm said, adding that it remains a "very challenging time" to run a business.However, the negative 10.6 reading is higher than the minus 22.5 average seen in late-March responses, indicating that at least some of the initial confidence shock has waned.Inflation expectations rose to 3.8% in April from 3.1% in March, but pricing intentions did not rise any further, which should be somewhat reassuring for the Reserve Bank of New Zealand, ANZ Research said.Reported past activity, the best indicator of GDP in the survey, was steady in April.

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International55d ago

Australia's Monthly Total Credit Rises in March

Australia's total credit rose 0.7% month on month in March, following a 0.6% increase in February, data from the Reserve Bank of Australia showed Thursday.Housing credit rose by 0.6%, the same rate as the previous month, while personal credit rose 0.6%, following a 0.4% increase.Business credit rose 0.8%, matching the growth rate recorded in the previous month.Broad money rose 0.7%, following a 0.8% increase in the previous month.Total credit jumped 8.1% in the year ended March, compared with the 6.5% increase in the year ended March 2025.

ASX 200

International55d ago

Australia's Export, Import Prices Rise in the March Quarter

Australia's export prices rose 0.5% in the March quarter after a 3.2% increase in the December 2025 quarter, while import prices rose 0.1% after a 0.9% increase in the previous quarter, data from the Australian Bureau of Statistics showed Thursday.Non-monetary gold, coal, coke and briquettes, and crude fertilizers were the main contributors to the increase in export prices, rising by around 11%, 5.3%, and 58%, respectively.The main factors offsetting the growth in export prices were metalliferous ores and metal scrap, which decreased 5%, and natural and manufactured gas, which fell 8.2%.The main contributors to the rise in import prices were petroleum and related products, non-monetary gold, and non-ferrous metals, rising by about 9.8%, 11%, and 17%, respectively."The closure of the Strait of Hormuz created a surge in oil prices in the latter part of [the] March quarter," said Sue-Ellen Luke, the bureau's head of prices statistics.The growth in import prices was partly offset by office and automatic data processing machines, which decreased 5.1%, and road vehicles, which fell 1.1%.Throughout the year, export prices fell 1.9%, while import prices declined 0.3%.

ASX 200

International55d ago

South Korea's Monthly Industrial Production Growth Decelerates Sharply in March

South Korea's overall industrial output increased 0.3% month-on-month in March, decelerating sharply from a 5.3% monthly rise in February, according to data from Statistics Korea released Thursday.The construction and public administration indices fell by 7.3% and 3.3%, respectively, in March from the prior month, while the index for the service, mining and manufacturing industries added 1.4% and 0.3%, respectively.Total industrial production increased by 3.6% in March from the same month in 2025, after a 2.3% yearly decline in February.

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International55d ago

Japan's Retail Sales Rebound in March

Japan's retail sales rebounded in March, growing by 1.7% to 14.306 trillion yen from a year ago, preliminary data from the Ministry of Economy, Trade, and Industry on Thursday showed.The reading reverses the 0.1% contraction in the month prior.Retail sales climbed 0.4% in food and beverage but contracted 4.1% in fuel.Commercial sales gained 3.2% on year to 58.826 trillion yen, while wholesale trade gained 3.7% to 44.52 trillion yen, the data showed.

Nikkei 225

International55d ago

South Korea's Retail Sales Rise in March

Retail sales in South Korea, a gauge of private spending, rose 1.8% in March from the previous month, after a 0.3% decline in February, according to data from Statistics Korea on Thursday.On an annual basis, retail sales increased 5% in March, following a rise of 4.3% in the preceding month.

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International55d ago

Japan's Industrial Production Slips 0.5% in March

Japan's industrial production index slipped by a seasonally adjusted 0.5% in March, but rose 2.3% from a year ago, the Ministry of Economy, Trade and Industry said on Thursday.Inorganic and organic chemicals, general-purpose and business-oriented machinery, and petroleum and coal products mainly contributed to the monthly decrease.The shipments in Japan slid 1.1% in March from the month prior but climbed 2% from a year ago, the data showed.Inventories declined by 1.5% in March from a month ago, and fell 4.9% year-on-year.The ministry's most recent survey showed that producers expect the reading in April and May to increase 2.1% and 2.2%, respectively, month on month.

Nikkei 225

International55d ago

New Zealand Small Businesses Continue Slow Recovery, Says Xero

Small businesses in New Zealand are pacing a slow recovery and building on the improvements seen in the second half of last year, with a 3.9% rise in sales in the March quarter, as mounting fuel shock risks remain uncertain, Xero said Thursday.According to Xero Small Business Insights (XSBI) data, an uptick in jobs signals that small business owners are starting to feel a bit more confident about the sustainability of the sales recovery. However, this confidence is likely to be tested in the coming months in light of high fuel prices triggered by the Middle East conflict.The latest consumer price index, which rose 3.1% in the March quarter, did not reflect a broad-based rise in inflation and suggests XSBI sales growth is an indicator of "genuine improvement in activity" rather than being driven by higher prices, the firm added.Sales grew across industries, with other services and retail trade leading the gains, climbing 5.4% and 5.1% in the quarter, respectively.The external shock from increased fuel prices and concerns regarding fuel availability comes at a time when the economy is continuing to build, and hurts small businesses directly through rising costs and reduced customer spending on non-fuel goods and services.The firm said current fuel stocks in the fuel-import-dependent country are "sufficient" and advised small businesses to buy fuel as normal.

^NZ50

International55d ago

Australian Small Businesses Off to Solid Start to the Year, Says Xero

Small businesses in Australia had a firm start to the year, with the March quarter recording a 7.2% jump in sales, though higher fuel prices amid the Middle East conflict present a key risk, Xero said Thursday.According to Xero Small Business Insights data, the quarter showed strong results, especially in the last two months despite the central bank raising the cash rate twice, which could have hurt the sales. Sales, jobs and wages all grew during the quarter, nearly reaching their historical average growth rates.The firm said price increases driven by surging fuel costs are so far not widespread among small businesses, and sales growth in March was possibly due to an uptick in physical sales rather than pricing.This is reflected in a 13.2% climb in transport and logistics industry sales, a sector most exposed to fuel prices."The longer fuel prices remain high the greater the risk that the Reserve Bank of Australia will respond with more increases in the cash rate to combat the widening inflation shock," the firm said.Xero added that current fuel stocks in the fuel import-dependent country are "sufficient" and advised small businesses to buy fuel as normal.

ASX 200

International56d ago

US Equity Markets Mixed as Crude Oil Surges, Fed Holds Rates Steady

US equity indexes were mixed on Wednesday after crude oil prices and government bond yields rose amid the increasing likelihood that the Strait of Hormuz will remain blocked and the Fed maintained interest rates unchanged.* President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told The Wall Street Journal.* The Federal Open Market Committee maintained its federal funds rate target at 3.50% to 3.75%, as expected, but four officials dissented, according to its statement Wednesday.* US March housing starts jumped almost 11% to a 1.502 million annual rate from a 1.356 million pace in February, above the 1.38 million rate expected in a Bloomberg-compiled survey.* June West Texas Intermediate crude oil rose $8.01 to settle at $107.94 per barrel, while June Brent crude, the global benchmark, was last seen up $8.69 at $119.95.* NXP Semiconductors (NXPI) shares were up roughly 25% after the company reported overnight higher Q1 non-GAAP earnings and revenue that beat analysts' forecasts in addition to setting higher-than-expected Q2 guidance.* Robinhood (HOOD) shares fell nearly 13% after it reported Q1 earnings and revenue that missed analysts' expectations.

Dow JonesNasdaq CompositeS&P 500$HOOD$NXPI

International56d ago

Fed Chair Powell Says He Will Remain as Governor for Period of Time After Chair Term Ends

Federal Reserve Chair Jerome Powell said Wednesday at a press conference that he will remain on the Federal Reserve board for a period of time after his term as chair ends on May 15, noting the recent attacks on the Fed and saying that "the things that have happened really in the last three months I think left me no choice but to stay until I see them through at least that long."An investigation into Powell's actions as chair during the remodeling of headquarters at the Fed was halted by the Department of Justice, but it could be reopened if the Fed's inspector general finds wrongdoing, providing uncertainty."I have said that I will not leave the board until this investigation is well and truly over with transparency and finality and I stand by that," Powell said. "I am encouraged by recent developments, and I am watching the remaining steps in this process carefully."Powell said that his decision to remain on board has nothing to do with political comments, but rather his concern about the recent attack on the Fed by the Trump administration."After my term as chair ends on May 15, I will continue to serve as governor for a period of time to be determined," Powell said. "I plan to keep a low profile as a governor. There is only one chair of the Federal Reserve.""I will leave when I think it's appropriate to do so," he added.At the meeting, the Federal Open Market Committee decided to maintain its target rate at a range of 3.50% to 3.75%, but there were dissents in favor of both a lowering of the policy rate by one member and in favor of eliminating the bias toward easing in the statement by three members.

International56d ago

Fed Chair Powell Says Will Continue to Serve as Fed Governor for Period After Term as Chairman Ends

International56d ago

US Personal Income Expected to Rebound in March, Spending Growth to Accelerate

Personal income is forecast to rise by 0.3% in March, based on a survey compiled by Bloomberg, following a 0.1% decline in February.The report on personal income and consumption for March is scheduled to be released at 8:30 am ET Thursday.Wages and salaries are seen as a modest support for the headline figure. Private nonfarm payrolls rose by 186,000 in March after a 129,000-jobs decrease in February, but the average workweek decreased to 34.2 hours from 34.3 hours and the aggregate hours index fell by 0.2% in the month. Hourly earnings rose by 0.2% in March.For consumption, control group retail sales, which exclude motor vehicles, gas building materials and food services and feeds into the goods PCE calculation, rose by 0.8% in March after a 0.6% gain in the previous month.Analysts expect personal consumption to increase by 0.9% in March after a 0.5% gain in February. Real PCE, consumption after adjustment for inflation, is expected to increase by 0.3% after 0.1% gain.PCE prices are forecast to rise by 0.7% after a 0.4% gain in the February report, while core prices are expected to increase by 0.3% after a 0.4% gain.Analysts expect the year-over-year rate for overall PCE prices to accelerate sharply to 3.5% from 2.8% in February while core PCE prices are seen at 3.2%, up from 3.0% in February.

International56d ago

Daily Roundup of Key US Economic Data for April 29

Housing starts rose by 10.8% to a 1.502 million annual rate in March, above expectations, with single-family housing starts and multi-family starts both higher.Building permits fell by 10.8% to a 1.372 million rate in March. Both single-family and multi-family permits declined. Additionally, homes permitted but not started decreased by 3%, suggesting starts could decline in the coming months.The number of homes under construction and completions were little changed in the month. Completions were still 12.8% below their year-ago level.Advance data for March showed the international trade deficit widened to $87.87 billion from $83.49 billion in February, reflecting a larger import increase than for exports.In the same report, wholesale inventories rose by 1.4% in March after a 0.9% gain in February, while retail inventories increased by 0.7% after a 0.3% gain. Excluding motor vehicle sales, retail inventories would be up 0.5%.Durable goods new orders rose by 0.8% in March, while shipments increased by 0.7%. Excluding transportation, new orders were up 0.9%, and shipments rose by 0.7%.The Mortgage Bankers Association reported a 1.6% drop in mortgage applications in the week ended April 24 after a 7.9% gain in the previous week. Refinancing activity declined due to higher mortgage rates while new home applications rose.Total crude oil inventories fell by 13.4 million barrels in the week ended April 24, with commercial oil inventories down 6.2 million barrels and stocks in the US Strategic Petroleum Reserve down 7.1 million barrels. Gasoline inventories and distillate inventories both decreased last week.The Q1 GDPnow estimate from the Atlanta Fed is for a 1.2% gain, unrevised from previous estimate. The next update is scheduled for April 30, when the first estimate for Q2 GDP will be released.

International56d ago

FOMC Holds Rates; Three Officials Oppose Easing Bias as Miran Again Seeks Cut

The Federal Open Market Committee maintained its federal funds rate target at 3.50% to 3.75%, as expected, but four officials dissented, its statement Wednesday afternoon showed.Fed Governor Stephen Miran again sought a 25-basis-point rate. Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari and Dallas Fed President Lorie Logan supported holding rates steady but "did not support inclusion of an easing bias in the statement at this time," according to the statement.There were few changes from the previous meeting's statement, keeping the focus on the committee's repeated pledge to adjust policy if risks emerge.Recent comments from Fed officials have highlighted divisions over the direction of the next move, including some suggesting rates may need to rise. Those differences produced dissents at what could be Chair Jerome Powell's final meeting before Kevin Warsh is confirmed to succeed him. Analysts expect Warsh to be more open to rate cuts than Powell.Powell's press conference begins at 2:30 p.m. ET.

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