Reuters US Economy

BEIJING(Reuters) -China’s factory activity expanded slightly in February as new orders improved, pointing to some resilience in the world’s second-largest economy even as downward pressure builds and Russia’s invasion of Ukraine heightens global uncertainty. The official manufacturing Purchasing Manager’s Index (PMI) registered 50.2 in February, remaining above the 50-point mark, which separates growth from contraction, …

China’s factory growth picks up as demand improves, Ukraine crisis raises risks Read More »

BEIJING(Reuters) – Activity in China’s services sector grew at a faster pace in February, official data showed on Tuesday. The official non-manufacturing Purchasing Managers’ Index (PMI) was at 51.6 in February versus January’s 51.1, data from the National Bureau of Statistics (NBS) showed. The 50-point mark separates growth from contraction on a monthly basis. While …

China’s Feb service sector activity growth accelerates – official PMI Read More »

By Wayne Cole SYDNEY (Reuters) – Australia’s trade performance last quarter was much less of a drag on the economy than first thought implying upside risk for growth, even as imports outstripped exports and hefty dividend payments flowed offshore. Data from the Australian Bureau of Statistics on Tuesday showed the current account surplus narrowed to …

Australia’s Q4 GDP looking even stronger as trade surprises Read More »

By Joori Roh SEOUL (Reuters) -South Korea’s trade sector swung back to a surplus in February from a record deficit a month earlier, powered by stronger-than-expected growth in exports, but the recovery faces some risks from Russia’s invasion of Ukraine. Exports in February expanded 20.6% from a year earlier to $53.91 billion, trade ministry data …

S.Korea exports growth accelerates but recovery may slow on Ukraine crisis Read More »

By Cynthia Kim and Joori Roh SEOUL (Reuters) – Lee Jae-hong would have had no trouble buying a home in the suburb of Ilsan on the outskirts of Seoul back in 2018. With a strong credit score and a job at a blue chip company, borrowing enough for an average apartment in the city costing …

In unaffordable Seoul, housing is at the centre of the S.Korea election Read More »

By Kylie MacLellan, William James and Elizabeth Piper LONDON (Reuters) -Prime Minister Boris Johnson unveiled Britain’s largest-ever package of sanctions against Russia on Thursday, targeting banks, members of President Vladimir Putin’s closest circle and wealthy Russians who enjoy high-rolling London lifestyles. Western nations are coordinating action to impose tough sanctions against Russia in response to …

PM Johnson unveils UK’s largest-ever sanctions against Russia Read More »

WASHINGTON (Reuters) -The Institute of International Finance, the largest international banking group, said on Thursday that U.S. sanctions on Russia will have a sizeable impact on Russia’s economy and citizens and could cause a recession. “The bottom line is that these sanctions will have a significant impact Russia’s overall economy, and average Russians will feel …

Banking group IIF says U.S. sanctions on Russia to have ‘significant impact’ Read More »

By Praveen Menon WELLINGTON (Reuters) – Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said on Friday that countering inflation pressures early prevent the need for even higher rates in the future. “In other words, we are taking our foot off the accelerator now to minimise having to use the brakes harder in future,” …

RBNZ Governor says countering inflation early will prevent need for higher rates Read More »

By Vivek Mishra BENGALURU (Reuters) – Soaring house prices in New Zealand will grind to a halt this year and Australia will follow suit in 2023 as expected higher interest rates rein in two housing markets that are among the least affordable in the world, a Reuters poll predicted. A multi-year boom in house prices …

Kiwi house prices rises to halt this year, Australia to follow in 2023: Reuters poll Read More »

By Vivek Mishra BENGALURU (Reuters) – Australia’s central bank will raise interest rates for the first time in over a decade in the third quarter, slightly earlier than thought a month ago, according to a Reuters poll of economists who see rates by year-end at 0.50%, up from 0.25% previously. Nearly every other central bank …

RBA interest rate hike now likely in Q3, to end year at 0.50%: Reuters poll Read More »