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Economy

Record Trade Deficit Pushes Rupee to New Low

The Indian rupee is poised to hit an all-time low on Tuesday, as a record-breaking trade deficit adds to existing pressures on the currency, reports Reuters. The one-month non-deliverable forward indicates the rupee will open at 84.88-84.90 to the US dollar, exceeding the previous all-time low of 84.

Nigerian Inflation Hits 28-Year High as Transport Costs Surge

Nigeria's inflation rate has climbed to a more than 28-year high, exceeding expectations and prompting forecasts that the central bank will extend its tightening monetary policy into next year, reports Bloomberg. Consumer prices surged to 34.6% in November, surpassing the previous month's 33.9%, according

Canadian Housing Starts Surge Beyond Expectations in November

Canadian housing starts rose a significant 8% in November, exceeding market forecasts and driven by a surge in multi-unit construction in several provinces, reports Reuters. This marks a substantial increase from the upwardly revised October figure of 242,207 units. The seasonally adjusted annualized rate of housing starts reached 262,

Germany Ends 2024 in Contraction, Manufacturing Plummets

Germany's private sector ended 2024 in contraction for the sixth consecutive month, although the rate of decline slowed slightly due to a modest rebound in services activity, according to the latest HCOB Flash PMI survey data from S&P Global. Manufacturing, however, remained deeply in recession, experiencing

Eurozone Private Sector Contracts as Job Cuts Accelerate

The Eurozone private sector ended 2024 in contraction, with business activity declining for the second consecutive month, according to provisional PMI survey data from S&P Global, released today. The downturn, driven by a sharp fall in manufacturing output and sustained decline in new orders, resulted in the fastest

China's Property Investment Slumps Further in First Eleven Months of 2024

China's property investment continued its downward spiral in the first eleven months of 2024, according to data released by the National Bureau of Statistics (NBS) on Monday, reports Reuters. Property investment during this period fell by 10.4% compared to the same period last year, representing a marginal

China's New Home Price Declines Slow to 17-Month Low Amid Stimulus Efforts

China's new home prices fell at their slowest pace in 17 months during November, according to official data released on Monday by the National Bureau of Statistics. This moderation in price declines comes as the government intensifies its efforts to stabilize the crisis-ridden property sector, reports Reuters. New

Australia's Private Sector Growth Stalls as Employment Contracts for First Time Since 2021

Australia's private sector growth weakened in December, ending a period of expansion and marking the first decline in employment since August 2021, according to a latest report by S&P Global Market Intelligence. The S&P Global Flash Australia PMI Composite Output Index fell to 49.

Japan's Factory Sector Continues to Contract, Services Sector Shows Resilience

Japan's factory activity continued to shrink for the sixth consecutive month in December, highlighting the economy's increasing reliance on the service sector, as reported by Reuters. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) fell to 49.5 in December, down from

Asia Wary as Fed Rate Outlook Clouds Equity Markets

Asian stock markets displayed a cautious demeanor on Monday, with surging bond yields posing a challenge to equity valuations, particularly for the tech sector, as reported by Reuters. This comes as investors brace for a week packed with central bank meetings and key economic data releases. While interest rate cuts