Australia Private Sector Credit Gains 0.1% In November
Private sector credit in Australia was up a seasonally adjusted 0.1 percent on month in November, the Reserve Bank of Australia said on Monday.
That was unchanged from the October reading but misses forecasts for an increase of 0.2 percent.
On a yearly basis, credit rose 2.3 percent - also shy of estimates for 2.4 percent and down from 2.5 percent in the previous month.
Housing credit was up 0.2 percent on month and 2.9 percent on year, while personal credit fell 0.5 percent on month and 4.9 percent on year and business credit rose 0.2 percent on month and 2.5 percent on year.
Broad money gained 0.3 percent on month and 4.4 percent on year.
Turkish Manufacturing Confidence Improves For Third Month
Turkey's manufacturing confidence improved for a third straight month in December to its strongest level in eight months, while capacity utilization eased slightly, survey data from the central bank showed on Thursday.
The manufacturing confidence index rose to 103.6 from 102 in November. The reading was the highest since April, when the score was 105.5.
A confidence reading above 100 suggests that business leaders remain optimistic regarding the outlook for the economy. Factories were optimistic regarding production, order book levels, and employment over the next three months.
Separate data from the central bank showed that the manufacturing capacity utilization rate eased to 77 percent in December from 77.2 percent in November. In October, the rate was 76.4 percent.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Australia Construction Sector Sinks Deeper Into Contraction
The construction sector in Australia continued to contract in December, and at a faster rate, the latest survey from the Australian Industry Group revealed on Wednesday with a six-and-a-half-year low PMI score of 38.9.
That's down from 40 in November and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Overall activity, new orders and supplier deliveries all grew substantially weaker to fuel the overall index decline.
"Australia's construction sector ended 2019 on a low note with activity, employment and new orders all falling in December. The performance of the engineering construction sector slumped further, declining at the most precipitous rate in more than a decade. Commercial construction and apartment building activity also ended the year heading lower," Ai Group Head of Policy Peter Burn said.
China will on Thursday release December numbers for consumer and producer prices, highlighting a busy day for Asia-Pacific economic activity.
Consumer prices are expected to rise 4.7 percent on year, up from 4.5 percent in November. Producer prices are called lower by an annual 0.4 percent after sliding 1.4 percent in the previous month.
China also will see new loan data for December, with forecasts suggesting a total of 1,250 billion yuan - down from 1,390.0 billion in November.
Australia will provide November numbers for trade balance, with forecasts suggesting a surplus of A$4.10 billion - down from A$4.502 billion in October. Imports were worth A$36.25 billion and exports were at A$40.75 billion in October.
New Zealand will see December figures for the commodity price index from ANZ; in November, the index was up 4.3 percent.
The Philippines will provide November numbers for imports, exports and trade balance. In October, imports were worth $9.57 billion and exports were at $6.32 billion for a trade deficit of $3.25 billion.
New Zealand Building Permits Sink 8.5% In November
The total number of building permits issued in New Zealand tumbled a seasonally adjusted 8.5 percent on month in November, Statistics New Zealand said on Tuesday - standing at 3,204.
That followed the downwardly revised 1.3 percent decline in October (originally -1.1 percent).
Individually, permits were issued for 1,980 stand-alone houses, 722 townhouses, 291 apartments and 211 retirement village units.
In the year ended November 2019, the actual number of new dwellings consented was 37,010, up 13 percent from the November 2018 year.
The annual value of non-residential building work consented was NZ$7.4 billion, up 4.9 percent from the November 2018 year.
By region, the numbers of new dwellings consented in the year ended November 2019 (compared with the November 2018 year) were: 14,866 in Auckland - up 16 percent; 4,176 in Waikato - up 13 percent; 3,036 in Wellington - up 11 percent; 5,849 in rest of North Island - up 6.9 percent; 5,310 in Canterbury - up 14 percent; and 3,772 in rest of South Island - up 10 percent.
In the year ended November 2019, non-residential building consents totaled NZ$7.4 billion, up 4.9 percent from the November 2018 year.
In the November 2019 year, the non-residential building types with the highest values were: education buildings - NZ$1.0 billion (down 1.5 percent); shops, restaurants, and bars - NZ$1.0 billion (down 5.4 percent); and offices, administration, and public transport buildings - NZ$981 million (up 6.3 percent).
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