Global 

Singapore’s central bank ends tightening cycle as growth slows amid cooling economy

Singapore’s central bank on Friday kept its monetary settings unchanged after two consecutive rounds of tightening, underscoring policymakers’ concerns about a cooling economy and rising risks to the outlook from slackening global demand.The Monetary Authority of Singapore (MAS), which manages policy through exchange rate settings rather than interest rates, said it would maintain the slope of the Singapore dollar’s policy band while keeping the width and level at which the band is centred… Source link

Read More
Home 

Australia home prices continue to decline in March, but deflation slows

Australian home prices fell again in March as credit conditions remained tight and investors stayed away, though the pace of decline slowed as more auctions found buyers.Monday’s report from property consultant CoreLogic showed home prices nationally fell 0.6 per cent in March, from February when they dropped 0.7 per cent. That was the smallest monthly fall since October. Values were down 6.9 per cent on a year earlier.The index has fallen in 15 of the past 17 months, wiping out more than two… Source link

Read More
China 

China economy slows further as industrial output growth slumps to lowest in a decade

China’s economy slowed further in the first two months of 2019 as the growth of industrial production fell to its lowest rate in a decade.Industrial production growth slowed to 5.3 per cent in January and February compared to the same period last year, down from 5.7 per cent growth in December, according to data released on Thursday by the National Bureau of Statistics (NBS). The result was below the 5.6 per cent expected by analysts in a Bloomberg survey.The January and February output growth… Source link

Read More
China 

China economy slows further as manufacturing sector PMI contracts for third straight month

China’s economy slowed further in February with manufacturing activity contracting for a third straight month, while services and construction activity eased further.The composite purchasing managers’ index, published by China’s National Bureau of Statistics on Thursday, fell to 52.4 in February from 53.2 in January.The latest reading is the lowest since the bureau started publishing the index in January 2017.The decline was led by factory activity, which fell further into negative territory in… Source link

Read More
Home 

Will China’s beauty sector lose it glow as growth slows to 30-year low?

When US beauty and personal care retailer and manufacturer Estée Lauder crossed US$1 billion in sales and French personal care company L’Oréal reported a 25 per cent growth in sales in Asia-Pacific in the quarter ending in December, their efforts in the region – especially mainland China – appeared to have paid off.Some analysts, however, said, with China’s economy slowing down further, growth in the sector could taper off too. “Overall, China’s beauty and personal care market has showed slower… Source link

Read More
Home 

China’s commercial property market is thriving even as residential property lags and the overall economy slows

For some time now, the residential property market has topped the list of vulnerabilities in China’s economy. In the latest sign that the slowdown in the housing market is gathering momentum, data published by the National Bureau of Statistics last Friday showed that new home prices in 70 major cities tracked by the government decelerated in January for the third straight month, expanding at their weakest pace since last April. Softening price growth is just one of several cracks that have… Source link

Read More
Home 

China’s Lunar New Year spending growth slows to decade low despite record US$148.96 billion sales

Sales growth in China during the seven-day Lunar New Year Holiday slowed to the lowest rate in a decade this month, questioning if the government can unleash the country’s domestic growth potential to counter the slowdown in the economy. National retail and catering revenue rose 8.5 per cent during the holiday to 1.005 trillion yuan (US$148.96 billion), the Ministry of Commerce said on Sunday. But even though the overall sales figure reached a record high, the growth rate fell from the 10.2 per cent witnessed last year to the lowest…

Read More
Property 

Shanghai mayor Ying Yong rules out easing control on home prices even as economy slows down

Shanghai’s mayor Ying Yong said on Thursday that he will do everything in his power to stabilise the housing market, ending speculation that the city would loosen its grip on the sector as it faced an uphill task of sustaining growth amid fears of a slowing economy. “We must bear in mind that controlling prices of land and homes is not a makeshift policy,” the mayor told a press conference after the close of the annual session of Shanghai People’s Congress. “We will stand firm in stabilising the property market…

Read More
China 

Debate in China on quantitative easing heats up as growth slows

A debate over whether China’s central bank should directly bankroll state spending is flaring up among bureaucrats and economists in Beijing as the Chinese government is under growing pressure to find new ways to arrest a deepening economic slowdown. The debate was initiated by a middle-ranking official at China’s Ministry of Finance, who argued in a speech at a bond forum last week that the People’s Bank of China (PBOC) should use treasury bonds as a major monetary policy tool and make the government bonds “quasi-money”. Guo Fangming, the deputy…

Read More
China 

China economy slows further, matching its lowest ever quarterly growth

The Chinese economy slowed further in the fourth quarter, matching its lowest recorded reading, last reached during the global financial crisis in 2009. The fourth quarter growth rate of 6.4 per cent, year on year, matched that of the first quarter of 2009, according to data released Monday by the National Bureau of Statistics. That was the lowest growth rate since the Chinese government began publishing quarterly growth rates at the beginning of 1992. The 2009 reading occurred at the beginning of the global crash in markets, which sparked recessions…

Read More