Senior Economist at UOB Group Alvin Liew comments on the latest Inflation Production figures in Singapore. Key Takeaways “Singapore’s industrial production (IP) enjoyed another strong month in May as it rose by 10.9% m/m SA, 13.8% y/y (from the revised Apr readings of 2.1% m/m, 6.4% y/y) well exceeding Bloomberg survey estimates.” “The main sources … Read more
Industrial Production in US grew at a softer pace than expected in May. US Dollar Index clings to strong daily gains above 104.50. Industrial Production in the US expanded by 0.2% on a monthly basis in May, the data published by the US Federal Reserve revealed on Friday. This print followed April’s expansion of 1.4% … Read more
China’s May Retail Sales YoY, arrived at -6.7% vs. -7.1% expected and -11.1% previous while Industrial Production YoY came in at 0.7% and -0.7% estimated and -2.9% prior. Meanwhile, the Fixed Asset Investment YoY rises to 6.2% vs 6.0% expected and 6.8% last. Additional details China May nationwide survey-based jobless rate at 5.9%. China May … Read more
The Chinese economy likely rebounded in May as declines in industrial output and consumption narrowed, Yicai.com reported, citing economists. Additional takeaways “Economists surveyed by Yicai expected industrial output fell 0.49% y/y in May, compared to the 2.9% decline in April, as power consumption by industrial enterprises in Shanghai recovered to 80.5% of the same level … Read more
The Bank of Japan (BOJ) will consider downgrading its assessment on factory output at the June policy meeting due to supply disruptions caused by China’s covid lockdowns, Reuters reports, citing sources with the central bank’s thinking. The BOJ is expected to maintain the view that Japan’s economy is picking up as a trend, noting that … Read more
German Factory Orders fell 2.7% MoM in April. German Retail Sales arrived at -6.2% YoY in Apr vs. -3.1% previous. EUR/USD keeps range below 1.0700 amid dismal German data. The German Factory Orders declined in April, suggesting that the manufacturing sector downturn in Europe’s economic powerhouse is deepening. Contracts for goods ‘Made in Germany’ dropped … Read more