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  • Philippine Q3 GDP Growth Slowest In Over A Year

    PHILIPPINES, 2013/11/28 Philippine economic increase eased additional than expected to reach the weakest level in additional than a year in the third quarter, data from the National Statistical Coordination Board showed Thursday, with economists predicting further slowdown in increase this quarter in the wake of the deadly Typhoon Haiyan. The gross domestic product expanded 7 % year-on-year in the third quarter, the weakest pace since the third quarter of 2012. This followed an upwardly revised 7.6 % increase in the second quarter. Economists expected increase to slow to 7.1 %. Typhoon Haiyan ripped through the country on November 8. The UN Office for the Coordination of Humanitarian Affairs (OCHA) rates it the biggest typhoon recorded in almost a century, affecting nearly 11 million people, with an estimated 600,000 displaced.

  • Tapering In Advanced Economies Key Risk To Growth In Emerging Asia

    ASIA, 2013/11/25 Tapering of the unconventional monetary policies in advanced economies is a key source of risk to increase and financial stability in emerging Asia, International Monetary Fund Deputy Managing Director Min Zhu said. "Advanced economies are recovering, but in general recovery is slow and is hindered by constraints on both the request and the supply sides," Zhu said, according to a text of his speech prepared for delivery at the High-Level Pacific Islands Conference Port Vila, Vanuatu, on Friday.

  • Korea Consumer Confidence Index On Tap For Monday

    SOUTH KOREA, 2013/10/28 South Korea will on Monday see the October results for the central bank's monthly survey on consumer confidence, highlighting a very light day in Asia-Pacific economic activity. In September, the consumer confidence index came in with a score of 102.0. As well, markets in New Zealand are closed on Monday in observance of the Labor Day holiday; they will re-open on Tuesday.

  • China's Economic Growth Gathers Pace In Q3

    CHINA, 2013/10/23 China's economic increase accelerated for the initial time in three quarters in the July-September period, data from the National Bureau of Statistics revealed Friday, supporting policymakers' efforts to restructure the economy in order to achieve sustainable increase in the longer-term. The gross domestic product rose 7.8 % year-on-year in the third quarter of 2013 in line with expectations. This was faster than a 7.5 % increase in the second quarter and a 7.7 % gain in the initial quarter.

  • Singapore Maintains Policy Stance As Outlook Remains Upbeat

    SINGAPORE, 2013/10/14 Singapore's central bank decided to retain its policy stance of targeting a "modest and gradual appreciation" of the currency exchange rate as the economic outlook remains upbeat next third quarter increase topped expectations. Moreover, there will be no change to the slope of the policy band and the present width of the band is sufficient to accommodate temporary fluctuations in the Singapore dollar's nominal effective exchange rate, the Monetary Authority of Singapore said in its semi-annual policy review statement. The MAS assessed the currency stance as appropriate taking into account the balance of risks between external request uncertainties and rising domestic inflationary pressures.

  • The country’s chief economic planner said he expects the Philippine economy to expand

    PHILIPPINES, 2013/10/11 The country’s chief economic planner said he expects the Philippine economy to expand by over seven % in the third quarter of 2013, remaining on course to close the year well above seven %. Socioeconomic Planning secretary and National Economic and Development Authority (NEDA) director general Arsenio Balisacan expressed confidence on the sustained strong performance of the economy despite the number of natural disasters that occurred in the July to September period. “For the third quarter, it is likely to be above seven (%). The typhoon and floods (will have an impact), but maybe marginal,” he said. The economy, as measured by the gross domestic product (GDP), gain 7. 5 % in the second quarter, the fourth consecutive quarter of over seven % increase.

  • Lao economy to see 8pc growth in 2013

    LAOS, 2013/10/10 The World Bank has estimate eight % gross domestic product (GDP) increase for Laos in 2013, driven mainly by mining and hydropower projects, despite the country's recent financial difficulties. The East Asia and Pacific Update, a bi-annual review of regional economies released by the Bank on Monday, is optimistic the Lao economy will continue to grow at a strong rate, picking increase to fall to 7.7 % in 2014 before recovering to 8.1 % in 2015. While the World Bank is confident of continued increase across the region as a whole, it has pushed for nations to institute reform to sustain increase and spread its benefits to the wider people.

  • The Chinese economy is still on the way to a modest recovery

    CHINA, 2013/10/08 The increase in the Chinese service sector moderated in September, with the expansion hovering substantially below trend, a closely watched private survey revealed Tuesday. The HSBC/Markit services business activity index fell to 52.4 in September from 52.8 in August. Nonetheless, it remains above the boom-or-bust score of 50 that separates expansion from contraction. Similarly, the composite output index that covers both manufacturing and services dropped to 51.2 from 51.8 in August. In contrast to the findings of HSBC/Markit survey, the official survey from the China Federation of Logistics and Purchasing said the non-manufacturing Purchasing Managers' Index, which includes services and construction, rose to a 6-month high of 55.4 in September.

  • Japanese economy increased additional-than-expected in September

    JAPAN, 2013/10/08 An indicator of economists' assessment of the current condition of the Japanese economy increased additional-than-expected in September, next falling for five months in a row, new data showed Tuesday. The Eco-Watchers' current conditions index rose to 52.8 in September from 51.2 in August and 52.3 in July, the Cabinet Office said. Economists had estimate a additional modest rise to 52. At the same time, the forward-looking index, which reflects the assessment of next economic situation in the country, moved up to 54.2 in September from 51.2 a month before.

  • Gross gaming and gambling revenues in Macau

    MACAU, 2013/10/04 Gross gaming and gambling revenues in Macau totalled 260.632 billion patacas (US$32.579 billion) from January to September, representing a year-on-year rise of 16.7 %, the Gaming Inspection and Coordination Bureau (GICB) said. According to the same figures gross casino gaming revenues in September totalled 28.963 billion patacas, a rise of 21.4 % against September 2012. However, against August, in which gross revenues totalled 30.737 million patacas, there was a real drop of 1.774 billion patacas or 5.8 %.
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