Japan’s office rental market tightens, e-commerce retail sales up 20% YoY Day in Review Japan The average vacancies rate in the Tokyo offices market was down to 1.63% from 1.64% for the month of October. The offices market in Tokyo continues to be tight with a continuous decline in vacancies
Eurozone PMI’s show decoupling between manufacturing and services Day in Review South Korea South Korea’s current account balance increased to $7.47billions for the month of September. Last month’s surplus was around $5.2billions. Nevertheless, the figure comes lower than the same month of last year where the surplus recorded over $11billions.
Hong Kong’s PMI drops to lowest recorded level amid continuous turmoil Day in Review Hong Kong Hong Kong’s PMI index figure for October was down to 39.3 points highlighting the severity of the economic situation in Hong Kong. The index has been in contraction territory for more than a year
Global real estate activity shows no signs of slowdown Day in Review China • Demand for new homes continued to push new residential real estate prices up in China, with second and third tier new houses driving the bulk of the growth in price appreciation as first tier new houses
China’s industrial production struggles with looming recession ahead Day in Review U.K • Average house prices in the U.K dropped -0.2% month over month coming lower than the year to date average of 0.1%. A deceleration from the month of August where prices dropped -1.0%. On a yearly basis, the
ECB refinancing interest rate reaches a historical negative low Day in Review Eurozone • The ECB’s main refinancing rate stayed unchanged for the week at 0%, along with the marginal lending facility rate that also stayed unchanged at 0.25% this week. The deposit facility rate decreased to -0.5%. This lowest
European data shows signs of struggling economy U.S.A • Fed reserve numbers for the month of July show that the U.S consumer credit increased by $23.29 billion, a higher increase from last month’s net consumer credit increase of $14.59 billion. July’s figure beat surveyed economist estimate of $16 billion. U.K
Oil in mixed territory as US national security advisor ousted South Korea • South Korean economy’s unemployment rate dropped to the lowest level since 2013. The unemployment rate for the month of August was 3.1% lower from last month’s 4% figure. The Asian economy added 452,000 jobs for the same
Mixed numbers from Europe and Asia show gloomy picture ahead The UK economy didn’t grow in the month of July as the latest GDP growth figures show. The GDP growth for July stood at 0% recovering from a drop of -0.2% in the previous month. The European economy has struggled
Trade wars continue to put pressure on the world’s largest exporters The Chinese trade balance for the month of August stood at $34.84 billion down from last month’s $45.06 billion. The figure was much lower than the expected trade balance figure of $44.03 billion from a survey of Chinese economists.