Key Economic Data
-
For Economic figures mainly from the US and SG. Things that affects the macro-economic level of things, eg. GDP, Employment figures, etc.
Just treat this as a scratch pad. Please feel free to comment on any of the data posted. -
Tokyo- Japan's trade surplus in June fell 23.5 percent from a year earlier to 873.1 billion yen (7.7 billion dollars), marking the third consecutive year-on-year decline.
New York- US Jobless claims dropped 34,000 to a total of 303,000 as the labor market continued to strengthen. The Composite Index of Leading Economic Indicators increased 0.9 percent in June to 137.7 after showing no change the month before and a 0.2 percent rise in April. The June increase was the largest since a 0.9 percent rise in December 2003. The index is watched closely because it is designed to predict economic activity over the next three to six months. -
PRIVATE HOME PRICES ROSE SLIGHTLY IN Q2: URA
--------------------------------------------
Private home prices in Singapore edged up 0.5 per cent in the April-June
quarter from the previous quarter, continuing the slow recovery that began
in the middle of last year, according to data released by the Urban
Redevelopment Authority (URA) on Friday. The pace was slower than the
0.7-per-cent increase recorded in the first quarter, but higher than the
0.4-per-cent flash estimate the URA put forth this month.
Prices of landed properties rose 0.2 per cent during the quarter, slower
than the 0.4-per-cent pace achieved in the first quarter. The prices of
non-landed properties rose 0.7 per cent, the same rate of increase as in
the previous quarter.
Meanwhile, rents for private residential properties rose 0.6 per cent in
the second quarter, compared with the 1-per-cent increase in the previous
quarter. The vacancy rate for completed private residential housing units
fell to 8.7 per cent at the end of last month from 8.8 per cent at the end
of March, the URA said.
The URA said that of the 23,642 uncompleted private homes with the
prerequisite conditions for sale, 11,243 had been sold.
The remaining 12,399 units that had yet to be sold comprised 4,519 that
have been launched for sale and 7,880 not yet launched. There were 1,688
completed but unsold units as of the end of the second quarter of 2005. A
total of 2,952 uncompleted private residential units were launched for
sale in the second quarter, compared with 1,366 in the first.
The URA also said prices of office space rose 0.5 per cent in the
April-June period from the previous quarter, slower than the 1-per-cent
pace in the January-March quarter. Rentals rose 1 per cent, up from the
2.2-per-cent increase in the last quarter.
The stock of completed office space decreased by 22,000 square metres to
6.451 million sq m at the end of the second quarter. The amount of
occupied office space increased by 29,000 sq m to 5.530 million sq m in
the same period. Consequently, the vacancy rate of office space decreased
by 0.7 percentage point to 14.3 per cent at the end of the second
quarter. - Dow Jones -
Singapore's June consumer prices edge 0.2% lower from a year earlier
SINGAPORE : Singapore's June consumer prices fell from a year earlier as lower transportation and communication costs offset higher food prices.
For full report see: http://www.channelnewsasia.com/stories/singaporebusinessnews/view/159700/1/.html -
SAN FRANCISCO (MarketWatch) -- Crude-oil futures climbed above $59 a barrel Tuesday, with traders wary that a fresh Energy Department update may reveal significant declines in U.S. inventories following hurricane-inspired output disruptions in the Gulf of Mexico.
(Possible SGX counters affected: Oil related coys eg. Kep Corp, Pearl Energy, KS Energy, SembCorp marine, SPC, Labroy Marine.) -
Singapore manufacturing output surprises with 11.1% growth
Posted: 26 July 2005 1402 hrs
See full report and breakdown of sectors at:
http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/159875/1/.html
In summary
The unexpected growth is due mainly to the growth in these 2 sectors:
biomedical manufacturing: +40.8 percent year-on-year in June,
transport engineering: +35.1 percent
Excluding the biomedical sector, Singapore's manufacturing output grew 5.5 percent with the vital electronics industry expanding 2.0 percent.
In the transport engineering sector, marine output soared 51.1 percent in June amid heavy demand for ship building and repairs, while commercial aircraft repairs helped lift the aerospace segment by 23.5 percent.
precision engineering:+1.9 percent in June
general manufacturing industries: -0.2 percent.
chemicals cluster: -1.9 percent -
Despite growth in GDP and solid consumer confidence report, Dow, Nasdaq End Lower. Dow fell 64.64, or 0.60 percent, to 10,640.91
U.S. GDP increases 3.4% in quarter
See Article Here -
Fires Push Oil Prices Past $60 Per Barrel
- Back-to-back refinery fires in BP PLC's Texas and at a refinery owned by Murphy Oil Corp in Louisiana, as well as a North Sea oil field fire, worried oil traders on Friday, sending front-month crude futures to a close above $60 a barrel for the first time in more than two weeks.
- Oil prices rose more than $2 a barrel over the past week, with traders concerned about everything from hurricanes in the Gulf of Mexico to the strength of energy demand around the world.
- Also lending support to the market on Friday was a report from the Commerce Department, which said U.S. gross domestic product grew at an annual rate of 3.4 percent in the second quarter, evidence of a healthy business climate despite surging energy costs.
- In addition to concerns about refinery operations, traders have been on edge over the world's limited excess oil-production capacity, which leaves little room for outages given strong demand from China and United States. -
Oil prices have hit new records after the death of Saudi Arabia's king and amid concerns over refineries and Iran. US light sweet crude surged $1.73 higher to $62.30 on the Nymex exchange before closing at $61.60.
-
July PMI shows Singapore manufacturing activity expanding
Source: CNA
SINGAPORE : Singapore's manufacturing economy continues to power ahead in July.
The Purchasing Managers' Index or PMI posted a reading of 52.1, up 1.6 points over June.
According to the Singapore Institute of Purchasing and Materials Management, which compiled the index, the increase is due to a rise in new orders & new export orders, higher production output and inventory level, as well as higher input prices.
A reading above 50 indicates the manufacturing economy is expanding.
Overall, stocks of finished goods, imports and employment showed improvements.
The corresponding electronics index also rebounded with a reading of 52.9. In June, the index fell 3.1 points.
Growth in the electronics sector has been driven by gains in new orders from both domestic and overseas markets.
The sector also recorded higher production output and inventory level, as well as higher stocks of finished goods.
- CNA /ls -
Singapore, South Korea ink free trade agreement
CNA report
- South Korea on Thursday signed a landmark free trade agreement (FTA) with Singapore, a first with an Asian country.
- almost 75 percent of Singapore's exports to South Korea, worth more than three billion dollars, will enjoy immediate tariff elimination.
- Companies in Singapore will be also granted tariff concessions on consumer electronics, precision engineering, biomedical sciences, chemicals and agricultural products. -
Record oil prices to slow East Asian economic growth: ADB
http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/162296/1/.html
- China however will also see its growth slow to 8.9 percent this year and 8.0 percent in 2006 from 9.5 percent last year due to "a gradual softening of fixed investment... and somewhat diminished export prospects."
- Singapore was expected to suffer the biggest slowdown in GDP growth from 8.4 percent in 2004 to 3.7 percent in 2005 and 4.7 percent in 2006.
- Thailand will see its GDP growth fall from 6.1 percent in 2004 to 4.3 and 5.3 percent growth in 2005 and 2006 respectively.
- Malaysia's GDP growth was forecast to fall from 7.1 percent last year to 5.3 percent this year and 5.7 percent next year while Philippine GDP growth would stay at 4.7 percent in both 2005 and 2006 from 6.1 percent last year.
- Indonesia would see its GDP growth accelerate from 5.1 percent in 2004 to 5.6 and 5.7 percent in 2005 and 2006 respectively. -
Productivity Growth Slows but Still Solid
Yahoo finance
- productivity of US workers rose at an annual rate of 2.2 percent
- down from a 3.2 percent gain in the first three months of the year but remained high enough to guarantee continued increases in living standards
- Unit labor costs -- a key measure of inflationary pressures from worker compensation -- slowed to an annual increase of just 1.3 percent in the April-June quarter, substantially below the increases of the previous nine months which had raised fears of rising cost pressures.
- Analysts said the slowdown in unit labor costs seen in the latest report will allow the Fed to continue nudging up interest rates at a gradual pace. -
Singapore's economy up stronger-than-expected 5.2% in Q2
MTI Slides
The expansion was above the government's flash estimate of 3.9 percent
Total 5.2
Goods Producing Industries 4.8
Manufacturing 5.9
Construction -0.5
Services Producing Industries 5.0
Wholesale & Retail Trade 8.3
Hotels & Restaurants 5.3
Transport & Telecommunications 4.6
Financial Services 6.8
Business Services 3.1 -
U.S. CPI up 0.5% in July on energy costs
Last Update: 9:46 AM ET Aug 16, 2005
WASHINGTON (MarketWatch) -- Soaring energy prices pushed the U.S. consumer price index up 0.5% on a seasonally adjusted basis in July, the Labor Department said Tuesday.
Excluding food and energy prices, however, the core CPI increased a tame 0.1%.
The report leaves the Federal Reserve on course to raise interest rates again by a quarter percentage point in September, economists said.
The increase in the CPI was slightly ahead of expectations of a 0.4% gain among Wall Street economists surveyed by MarketWatch. The core CPI was expected to rise 0.2%.
The increase in the CPI was the highest since April. The CPI was flat in June. Meanwhile, core prices have increased 0.1% three months in a row.
In the past year, the CPI has risen 3.2%, up from 2.5% on a year-over-year basis in June. The year-over-year gain in the core rate ticked a tenth of a percent higher to 2.1% in July.
Core inflation remains within the Federal Reserve's comfort zone. Policymakers are clearly alert to the dangers, having raised interest rates 10 times in the past 14 months to quell inflationary pressures.
Wages aren't putting any pressure on firms to raise their prices. Real hourly wages fell 0.2% in July. Over the past year, real hourly and weekly earnings (adjusted for inflation) have fallen 0.5%. -
PPI jumps 1% in July on cars, gasoline
Economists dispute data as signaling inflationary upturn
Last Update: 10:22 AM ET Aug. 17, 2005
WASHINGTON (MarketWatch) -- U.S. wholesale prices jumped a greater-than-expected 1% in July as prices for gasoline and vehicles soared, the Labor Department said Wednesday. The increase in the producer price index was twice what had been expected.
However, economists discounted the jump in vehicle prices as a statistical hiccup that didn't reflect the reality of massive discounting during July by General Motors Corp. and other automakers.
"There is nothing in this report that suggests any intensification of inflation pressures at the producer level," said Joshua Shapiro, chief economist for MFR.
Adjusted to exclude volatile food and energy costs, the core rate of inflation rose 0.4%, the Labor Department reported. Excluding cars and truck prices, the core rate rose 0.2%.
The July inflation reports show acceleration in energy prices but few signs of inflation in other goods and services. Nothing in either report should alter the Federal Reserve's view that short-term interest rates need to move higher, at a measured pace.
Stocks traded narrowly mixed in the aftermath of the PPI report, but the data hurt the Treasury market, which abhors inflation because it reduces the value of fixed-income instruments. The benchmark 10-year Treasury note last was recently down 5/32 at 100-5/32 with a yield of 4.230%.
The dollar was benefiting from investor conviction that the Fed's likely to keep lifting rates, following the latest inflation reports. The dollar was recently up 0.02% at 109.75 yen, while the euro fell 0.05% to $1.23. -
U.S. leading indicators up 0.1% in July
By Rex Nutting, MarketWatch
Last Update: 10:14 AM ET Aug. 18, 2005
WASHINGTON (MarketWatch) -- Leading indicators of U.S. economic activity increased 0.1% in July, suggesting "moderate growth into the fall," the Conference Board said Thursday.
Economists had been expecting a 0.3% increase, according to a survey conducted by MarketWatch. See Economic Calendar.
The leading indicators increased a revised 1.2% in June, up from 0.9% reported last month. The leading indicators were flat in May.
The coincident indicators rose 0.1% in July, while the lagging index rose 0.3%.
The leading indicators are designed to forecast economic activity six to nine months ahead.
Six of the 10 leading indicators increased in July, led by jobless claims, the interest-rate spread and stock prices.
Three indicators declined, led by vendor performance and money supply.
Over the past six months, the leading indicators are up 1.1%, with six of the 10 indicators increasing over that time, "consistent with the economy continuing to expand moderately in the near term," the Conference Board said.
"The spike in energy prices is one factor in this outlook," said Ken Goldstein, chief economist for the private economic research group.
"Of more concern is the level of business executive and consumer confidence. Both investment and hiring intentions reflect a level of caution over both pricing and profit strategies," he said.Manufacturing improves in Philly area
In short.. US market - Economic activity is up, but moderate growth in the coming 6 months expected.
Philly Fed index rises to highest level in 4 months
Last Update: 1:38 PM ET Aug. 18, 2005
WASHINGTON (MarketWatch) -- Manufacturing activity improved in the Philadelphia region in August, the Federal Reserve Bank of Philadelphia said Thursday.
The Philly Fed index rose to 17.5 in August from 9.6 in July. It's the highest reading since April.
It was "another report which suggests that manufacturing activity has strengthened in the third quarter," said John Ryding, chief U.S. economist for Bear Stearns.
The Philly Fed is of interest chiefly because it can help predict the national purchasing managers' survey to be released in two weeks, which in turn is seen as the best single real-time gauge of economic activity.
Readings over zero indicate most firms surveyed said business was getting better. Thirty-six percent said business was getting better, up from 28% last month.
The new orders index jumped to 19.8 from 5.0, while the shipments index rose to 17.8 from 12.4. Unfilled orders rose to 7.2, the first positive reading in eight months. Employment rose to 6.3 from 3.4.
The prices paid index dropped marginally to 25.9 from 26.5. The prices received index fell to a two-year low of 3 from 12, indicating little pricing power.
"The data still suggest that inflation pressures have moderated from the sharp acceleration in 2004," said analysts for Action Economics.
In a special question, 76% of firms expect energy prices to rise by an average of 5.4% for the remainder of 2005. In addition, 65% said raw materials prices will rise, by an average of 2.8%, while 52% said intermediate goods prices will rise, by an average of 2%.
Looking ahead, the six-month outlook rose to 33.4 from 15.3, the highest since December. Over the next six months, 36.7% of firms expect their own pricing power to improve.
In other reports released Thursday, the Conference Board said the index of leading economic indicators increased 0.1% in July, suggesting moderate growth.
The Labor Department reported weekly initial jobless claims increased by 6,000 to 316,000 last week, with the four-week average rising by 2,750 to 312,750. -
S'pore's July CPI up 0.1%
Reports from BT:
August 23, 2005, 1.25 pm (Singapore time)
SINGAPORE - Singapore's consumer price index edged up 0.1 per cent from 2004, the Department of Statistics reported on Tuesday.
Click here for full breakdown from Singstat
This climb was led by a rise in housing prices, followed by higher costs in education.
'This shows that our monetary policy is still relevant,' said Nizam Idris, economist at IDEAglobal. 'But having said that, there's still going to be an upward pressure on prices, though this pressure is benign.'
The increase of 0.7 per cent was marginally higher than his forecast of 0.5 per cent. 'This isn't a great surprise,' he said. 'Prices are still going up according to expectations.' A more aggressive tightening of monetary policy would be, in his view, unnecessary.
Song Seng Woon, economist at GK Global Securities, had predicted a rise of 0.7 per cent. 'It's nothing much to wave a flag about,' he said. 'We expected inflation to come back in July.' 'What's interesting about the rise in energy prices is how you don't see it turning up much in transport and communications costs,' said Mr Song. -
Mixed signals in the US markets:
U.S. durable-goods orders fall 4.9%
Broad July drop follows three straight monthly gains
Last Update: 9:58 AM ET Aug. 24, 2005
WASHINGTON (MarketWatch) -- In a broad retreat after three straight strong months, orders for new durable goods decreased 4.9% in July, the Commerce Department estimated Wednesday. This is the largest decline in new orders since January 2004.New-home sales surge to record 1.41 mln
I can imagine tomorrow's headlines. if dow falls, they blame it on the durable goods orders and rise in oil prices. if it rise, then it cos of surge in home sales.
Median sales price falls, showing shift to cheaper homes
Last Update: 12:57 PM ET Aug. 24, 2005
WASHINGTON (MarketWatch) -- Sales of new U.S. homes surged 6.5% in July to a record seasonally adjusted annual rate of 1.41 million, the Commerce Department said Wednesday.
-
Let me support your forum..I hate econs...
-
haha... just saw this.Originally posted by stellazio:Let me support your forum..I hate econs...
welcome to the forum!!
hate or sux at econs also never mind.
like to know how to make more money can liao!!
feel free to contribute your tots and comments k.
-
Wah... im getting a headache already... economics..
My very 1st module actually... & test coming up soon next mth! Argh....
-
Hello!!Originally posted by Camellias4me:Wah... im getting a headache already... economics..
My very 1st module actually... & test coming up soon next mth! Argh....
the news here probably wun be too relevant for the tests.
Test on Micro econs or Macro? -
Scarely internation econs,heard its a major pain..Originally posted by k4korny:Hello!!
the news here probably wun be too relevant for the tests.
Test on Micro econs or Macro? -
nah.. i think most prob it's the first few stuff about demand and supply rite?Originally posted by stellazio:Scarely internation econs,heard its a major pain..