Thursday, 18 July 2013

CIMB Global Economic News - 18 July 2013

The US MBA purchase applications index rose 1.0% wow in the 12 Jul week (-3.0% in the earlier week), whilst the refinance index lost 4.0% wow (-4.0% in the prior week). (Bloomberg) 

US housing starts fell back 9.9% mom to a seasonally adjusted, annualised rate of 836,000 following an 8.9% surge in May to a revised 928,000. Economists expected a reading of 951,000. (Bloomberg) 

Eurozone construction output fell 0.3% mom in May following a 1% rise in Apr. On a yearly basis, construction output declined 5.1%, but slower than the 6.8% drop seen in Apr. (RTT News) 

Foreign direct investment in China in Jun jumped 20.1% yoy (0.3% in May), the quickest gain since Mar 2011. (Reuters) Japan's machine tool orders were left unrevised from the preliminary reading at -12.4% yoy in Jun, the second consecutive month of decrease. (Bloomberg) 

Singapore's non-oil domestic exports slipped 8.8% yoy in Jun (-4.6% in May), weaker than estimates of a 5.8% drop. Electronic exports fell 12.4% yoy in Jun (-13.2% in May). (Bloomberg)

Source: CIMB Daybreak - 18 July 2013

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