Germany's unemployment fell unexpectedly in January as the labor market
turned healthier in the face of rising prospects of moderate economic
growth. Unemployment declined sharply by a seasonally adjusted 16,000 in
January, following December's revised decrease of 2,000, figures from
the Federal Labor Agency revealed Thursday.
House prices in the UK increased in January after recording no change
in the past two months, as recent employment gains and easier access to
bank loans, thanks to central bank's credit program, lifted housing
market activity. House prices increased 0.5 percent month-on-month in
January, a report from the Nationwide Building Society showed Thursday.
Unemployment and inflation from Germany are major reports due on
Thursday, headlining a busy day for the European economic news.
Taiwan's GDP growth accelerated in the fourth quarter of 2012, backed
by strong domestic demand and external trade, official data showed
Thursday. Taiwan also upwardly revised its growth expectations for 2013,
citing a possible sharp recovery in exports. The gross domestic product
expanded 3.42 percent year-on-year in the fourth quarter.
The Philippine economy expanded more than expected in the fourth
quarter, supported by widespread growth in household consumption, public
spending, exports and investment, data published by the National
Statistical Coordination Board showed Thursday. The gross domestic
product grew 6.8 percent year-on-year in the fourth quarter compared to
forecast for a 6.3 percent rise.
Confidence among British consumers improved more than expected in
January as they turned optimistic about the economy's prospects, a
survey by GfK NOP revealed Thursday. Also, consumers were upbeat on
making major purchases at present. The headline consumer confidence
index rose to -26 in January from -29 in December. Economists expected
only a modest increase to -28.
The export price index in Australia was down 2.4 percent compared to
the previous three months in the fourth quarter of 2012, the Australian
Bureau of Statistics said on Thursday - falling for the second straight
quarter.
The headline figure missed forecasts for a 1.5 percent decline following
the...
Industrial production in Japan climbed a seasonally adjusted 2.5
percent in December, the Ministry of Economy, Trade and Industry said in
Thursday's preliminary reading - reversing the previous month's
decline. The headline figure was well shy of forecasts for an increase
of 4.1 percent following the 1.4 percent contraction in November.
The dollar has lost ground against all of its major competitors on
Wednesday, following the unexpected decrease in U.S. GDP for the fourth
quarter. Investors have also taken a cautious approach ahead of the
announcement from the 2-day FOMC meeting, which is due to be released
later this afternoon.
Economic...
Economic activity in the U.S. unexpectedly contracted in the final
three months of 2012, according to a report released by the Commerce
Department on Wednesday, with GDP falling for the first time in over
three years. The report showed that GDP edged down by 0.1 percent in the
fourth quarter after surging up by 3.1 percent in the third quarter.
The modest drop came as a surprise to economists.
Private sector employment in the U.S. increased by more than
anticipated in the month of January, according to a report released by
payroll processor Automatic Data Processing, Inc. (ADP) on Wednesday.
The report showed that private sector employment increased by 192,000
jobs in January compared to economist estimates for an increase of about
172,000 jobs.
Eurozone economic sentiment strengthened more-than-expected to a
seven-month high in January, suggesting that the region's economic
downturn may have bottomed out, results of a closely watched survey from
the European Commission showed on Wednesday. The economic confidence
index climbed to 89.2, the highest since June, from a revised 87.8 in
December.
The Spanish economy contracted more than forecast in the fourth quarter
as harsh austerity measures aimed at reducing the country's huge public
debt continued to hold back growth. The gross domestic product
contracted 0.7 percent quarter-on-quarter in the fourth quarter of 2012,
the latest figures from statistical office Ine showed Wednesday.
Economic confidence survey data from Eurozone is the major data due on
Wednesday, headlining a light day for the European economic news.
Retail sales in Japan added a seasonally adjusted 0.1 percent in
December, the Ministry of Economy, Trade and Industry said on Wednesday,
worth 13.098 trillion yen. That was shy of forecasts for an increase of
0.4 percent following the downwardly revised 0.1 percent contraction in
November. On a yearly basis, retail sales were up 0.4 percent - beating
forecasts for a gain of 0.3 percent after adding a downwardly revised
1.2 percent in the previous month.
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