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Japan Consumer Confidence At 1-Year Low




Japan's consumer confidence weakened further in August to the lowest level in a year, survey data from the Cabinet Office showed Wednesday.


The seasonally adjusted consumer confidence index dropped to 43.3 in August from 43.5 in July.


Moreover, this was the lowest score since August last year, when it marked the same 43.3.


The sub-index for income growth fell to 41.8 in August from 42.2 in the previous month. Similarly, the component index for employment decreased from 48.0 to 47.7.


The gauge measuring willingness to buy durable goods worsened to 42.0 from 42.2, while the index for overall livelihood rose to 41.7 from 41.6.


The survey was conducted among 8,400 households on August 15.


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Japan Retail Sales Gain 0.1% In July





Retail sales in Japan were up a seasonally adjusted 0.1 percent on month in July, the Ministry of Economy, Trade and Industry said on Thursday.


That missed expectations for an increase of 0.2 percent following the 1.5 percent spike in June.


On a yearly basis, retail sales climbed 1.5 percent - exceeding expectations for 1.2 percent and down from 1.8 percent in the previous month.


Sales from large retailers tumbled 1.6 percent on year, missing forecasts for a decline of 0.7 percent following the 1.5 percent jump a month earlier.


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China Manufacturing PMI Rises To 51.3 In August





The manufacturing sector in China continued to expand in August, and at a slightly faster rate, the latest survey from the National Bureau of Statistics showed on Friday with a PMI score of 51.3.


That beat expectations for a score of 51.0 and was up from 51.2 in July.


The bureau also said that the non-manufacturing PMI came in at 54.2 - also exceeding expectations for 53.7 and up from 54.0 in the previous month.


The composite index had a score of 53.8, up from 53.6 a month earlier.


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Japan Manufacturing Growth Improves In August




Japan's manufacturing growth improved slightly in August, final survey figures from IHS Markit showed Monday.


The Nikkei flash manufacturing Purchasing Managers' Index, or PMI rose to 52.5 in August from 52.3 in July. That was in line with the flash data published on August 23.


Any reading above 50 indicates expansion in the sector.


In line with stronger inflows of new work, firms raised production and employment in August.


However, business sentiment dipped amid uncertainty arising from global geopolitics. On the price front, input price inflation remained sharp in August and selling prices grew at the fastest rate in almost ten years.


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South Korea Q2 GDP Growth Slows More Than Estimated



South Korea's economic growth eased more than initially estimated in the three months ended June, latest figures from Bank of Korea showed Tuesday.


Gross domestic product advanced 0.6 percent sequentially in the second quarter, revised down from 0.7 percent rise seen in the flash report.


During the first quarter, the rate of expansion was 1.0 percent.


On the expenditure side, private consumption grew 0.3 percent over the quarter, while gross fixed capital formation declined by 2.9 percent.


Exports of goods and services gained 0.4 percent, while imports logged a fall of 3.0 percent


On an annual basis, GDP expanded at a steady pace of 2.8 percent in the June quarter.


The government forecasts the economy to grow 2.9 percent this year. The Bank of Korea also projected 2.9 percent growth for 2018, and 2.8 percent for 2019.


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Australia GDP Rises 0.9% In Q2




Australia's gross domestic product expanded a seasonally adjusted 0.9 percent on quarter in the second quarter of 2018, the Australian Bureau of Statistics said on Wednesday.


That beat forecasts for a gain of 0.7 percent following the 1.0 percent gain in the three months prior.


On a yearly basis, GDP was up 3.4 percent - also exceeding forecasts for 2.9 percent and up from 3.1 percent in the previous three months.


Household final consumption expenditure increased 0.7 percent during the quarter, contributing 0.4 percentage points to GDP growth.


"Growth in domestic demand accounts for over half the growth in GDP, and reflected strength in household expenditure," Chief Economist for the ABS, Bruce Hockman, said.


General government final consumption expenditure increased 1.0 percent in the June quarter. Public investment remained at elevated levels reflecting continued work on infrastructure projects across the nation.


Investment in new dwellings increased 3.6 percent for the quarter. with strength observed in Victoria and South Australia. This strength was reflected in the Construction industry, which grew 1.9 percent for the quarter.


Compensation of employees increased by 0.7 percent, while net exports contributed 0.1 percentage points to GDP growth.


The terms of trade fell 1.3 percent on quarter but advanced 2.0 percent on year.


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Australia's Trade Surplus Falls In July




Australia's trade surplus decreased in July, the Australian Bureau of Statistics reported Thursday.


The trade surplus fell to a seasonally adjusted A$1.55 billion in July from A$1.94 billion in June. Nonetheless, this was above the expected level of A$1.45 billion.


Data showed that exports dropped 1 percent from the previous month, while imports remained broadly unchanged in July.


Export growth is likely to slow further through the second half of the year given the bulk of Australia's major LNG, iron ore and coal mines are now approaching output capacity and scope for further marginal increases appears limited, Tom Kennedy, an economist at J.P. Morgan, said.


As a result, the net export contribution to real GDP growth is expected to fade and become neutral by end-2018, the economist added.


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Malaysia's Industrial Output Growth Improves





Malaysia's industrial production growth accelerated more-than-expected in July, the Department of Statistics reported Friday.


Industrial output grew 2.6 percent year-on-year in July, faster than June's 1.1 percent increase. Output was expected to climb 1.4 percent.


The growth in July was supported by a 5.2 percent increase in manufacturing and a 4.5 percent rise in electricity. Meanwhile, mining output logged a decline of 5.9 percent. On a monthly basis, industrial production advanced 2.6 percent, reversing a 1 percent drop in June.


Another report from the statistical office showed that manufacturing sales expanded 9.6 percent from last year to MYR 70 billion in July.


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Ireland Construction Growth Remains Strong In August



Ireland's construction sector growth remained elevated in August, despite easing from July, survey data from IHS Markit showed Monday.


The Ulster Bank construction Purchasing Managers' Index dropped to 58.3 in August from 60.7 in July. However, any reading above 50 indicates expansion in the sector.


"The August survey results were also notable as they marked the 60th consecutive monthly expansion of construction activity, indicating that survey respondents have now been in recovery mode for five years following the extreme collapse which took hold during the financial crisis," Simon Barry, Chief Economist Republic of Ireland at Ulster Bank, said.


Among three monitored categories, the fastest growth was on residential projects. but, the pace of expansion moderated from July. The rate of growth in commercial activity also eased, while civil engineering activity rose for the second straight month.


New orders increased sharply, though the rate of growth slowed for the third successive month. Rising workloads forced companies to raise their staffing levels and purchasing activity in August.


On the price front, the rate of input price inflation quickened amid rising costs for a range of raw materials.


Firms were confident that new work on housing projects will help lead to increases in construction activity over the coming year.


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Japan M2 Money Stock Gains 2.9% On Year In August




The M2 money stock in Japan was up 2.9 percent on year in August, the Bank of Japan said on Tuesday - coming in at 1,006.1 trillion yen.


That was unchanged from the July reading following a downward revision from 3.0 percent.


The M3 money stock was up an annual 2.5 percent at 1,337.7 trillion yen - also unchanged from the previous month following a downward revision from 2.6 percent.


The L money stock was up 2.2 percent to 1,782.7 trillion yen, down from 2.3 percent a month earlier.


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