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PALM FXMart
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#51
05.09.2018, 07:28

Australian Economy Strengthen Due to High Consumer Spending

[Image: cd5c76c2ccadabf213b12f97141baccdb89329a9.jpg]

The resilient economy of Australia showed robust growth during the Apr-Jun quarter this year, along with the growing exports, consumer expenditure, and government spending, based on the official data issued on Wednesday.

The Australian economy grew by 0.9 percent for the second quarter, after the 0.7 percent expansion in the first quarter, to take the annual growth rate to 3.4 percent. However, the quarterly reading was way far than the market forecasts of 2.8 percent, following the yearly reading of 3.1 percent on Q1. The increase had pushed the Australian currency to reach nearly half a cent to 72.17 US cents.

Moreover, household spending escalated to 0.7 percent which added 0.4 percentage points of growth, as net exports contributed 0.1 percentage points. On the other hand, the government expenditure was up by 1.0 percent to extend its highest growth throughout the year.
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PALM FXMart
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#52
07.09.2018, 07:54

Germany’s Growth Outlook Raises to 1.9 pc, says Ifo

[Image: 46377463771fa53a88602923827662fbbe34df48.jpg]

On Thursday, the Ifo economic institute announced its increased on 2018 economic growth outlook for Germany to 1.9 percent versus 1.8 percent in the previous, indicating a better-than-expected growth during the first half of the year.

Ifo economist Timo Wollmershauser stated that there is an ongoing strong upswing in the German economy, which will be mainly driven by personal consumption for the current year and in 2019. He added that this will be supported by the employment expansion and stable income growth.

The Ifo expects that the GDP growth rates will reach 1.9 percent next year and 1.7 percent in 2020.
(This post was last modified: 07.09.2018, 08:05 by PALM FXMart.)
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PALM FXMart
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#53
14.09.2018, 03:08

Japanese Manufacturers’ Confidence Dropped in September as Trade Tension Continues

[Image: 9efe14a1f2fc966cdf7be85d928e2ebd96e85b64.jpg]

Japanese manufacturers’ confidence dropped this month, following a seven-month high in August. The survey shows the possibility of worsening trade war between China and the US that puts exporters hesitant. 

The monthly survey of BOJ Tankan also indicates bouncing up in September from a two-year low in August driven by retail spending from summer bonuses and high heat.  

Unlike three months earlier, m manufacturers’ sentiment remained unchanged and the service-sector sentiment to slightly behind, signifying the BOJ Tankan on 1st of October to be positively holding steadily the business confidence. 

The government also shows the economy to be growing at the fastest pace since 2016, overshadowing capital expenditures of the economy amid the trade tensions and natural disasters, based on the reports by Tankan on Monday. 

Although, the business morale is anticipated to recover in the next three months but not the service-sector which is slightly declining. 

Reuters survey also shows exporters of cars and metal products or machinery raised concerns on the effect of the trade war tensions as they react on putting tariffs, influencing shipments and capital expenditure.

Manufacturers’ index remained the same with the figures three months ago but this is expected to recover in December. 

Meanwhile, the service sector index grew to 33 from 25 last month, driven by retailers. In comparison, it dropped by 2 points from June data of 35 points. This is once again presumed to go down in December. 

Figures slid down for the second consecutive quarter primarily due to higher costs as an after-effect of US trade protectionism that affect negatively Japan, being an export-reliant nation. 

On the other hand, the revised government data showed a boost in capital spending, resulting in a growth of 3.0 percent annually in the second quarter. This has exceeded economists’ forecast of 2.6 percent gain and the fastest growth so far since the first three months of 2016.
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