Tuesday, 16 July 2013

CIMB Global Economic News - 16 July 2013

US business inventories rose 0.1% mom in May from a revised 0.2% in Apr, exceeding consensus of no change. (Bloomberg) 

US retail sales rose 0.4% mom in Jun from a revised 0.5% in May, half of consensus of 0.8%, whilst less autos and gas, sales dipped 0.1% mom from a revised +0.3% in May, underperforming consensus of +0.3%. (Bloomberg) 

China's urban fixed-asset investment grew 20.1% yoy to Rmb18.13tr (US$2.94tr) in 1H13 (20.4% in May). (China Daily) 

China’s 2Q13 GDP climbed 7.5% yoy, in line with expectations. This is down from 7.7% growth in 1Q13. (Business Insider) 

China’s retail sales grew 12.7% yoy to Rmb11.08tr (US$1.8tr) in 1H13 (12.9% in May). (Xinhua) 

The Reserve Bank of India increased both the marginal standing facility and the bank rate to 10.25% from 8.25%, and will conduct open market sales of government bonds worth 120bn rupees (US$2bn) on 18 Jun, a step that would drain cash from the economy. (Bloomberg) 

Singapore’s retail sales in May rose 3.2% yoy, reversing the adjusted 0.3% fall in Apr. (Indo-Asian News Service)

Source: CIMB Daybreak - 16 July 2013

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