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Australian retail sales in December fell by 0.1%, less than the expected 0.7% decline, following four months of growth. The Australian Bureau of Statistics attributed the slight decrease to promotional activities and the boost from Cyber Monday. The Reserve Bank is expected to begin an easing cycle on Feb. 18, as recent data shows easing price pressures and a positive outlook for household spending. Retail sales account for over half of the country's GDP, and the government is anticipating at least one rate cut before the upcoming election. [Extracted from the article]

Australia's upcoming quarterly inflation data will likely influence the Reserve Bank's decision on monetary easing and potentially impact the timing of the upcoming election. The trimmed mean inflation rate is expected to have decreased to 3.3%, providing relief for Prime Minister Anthony Albanese's Labor government. The government's populist measures to ease household burdens, combined with cooling inflation, may lead to a rate cut before the election. Economists predict that any rate cuts will be cautious and short-lived, with uncertainty surrounding the timing of monetary policy changes. [Extracted from the article]

India has revised its trade data for precious metals, specifically gold imports, due to technical glitches that led to an "unusual surge" in November. The revised figures show that gold imports were $9.84 billion, significantly lower than the previously reported amount. The correction may alleviate confusion among analysts, who had debated the reasons behind the spike in imports, with some attributing it to rural prosperity and others to a search for safe assets amidst currency fluctuations. [Extracted from the article]

India's government is revising gold import figures and trade data after discovering discrepancies in their calculation, with gold imports for November being $5 billion lower than previously reported. The Directorate General of Commercial Intelligence and Statistics will likely publish revised data next week, potentially reducing the country's current account deficit by 0.1% of GDP. The reported change in gold import data could alleviate pressure on the currency, which has weakened almost 3% over the past year. The government has not officially explained the data discrepancy, but it is believed that some gold imports were double-counted, leading to an overestimation. [Extracted from the article]

India's government is in the process of revising gold import figures and trade data after discovering discrepancies in their calculation. The Directorate General of Commercial Intelligence and Statistics found that gold imports were about $5 billion lower than previously reported in November. The revisions are not yet finalized, but the new figures are expected to be published next week, potentially impacting India's trade deficit and currency value. The government has not officially explained the data discrepancy, but it is believed that some gold imports were double-counted, leading to an overestimation. [Extracted from the article]

Australian household spending in October surpassed expectations, with a 0.8% increase from the previous month and a 2.8% rise from a year earlier. The boost was driven by purchases of tickets to international music concerts and sporting events, particularly in the recreation and culture category. The Reserve Bank of Australia is closely monitoring household spending, which accounts for over half of the country's GDP, amid uncertainties about the economy and inflation rates. Retail sales data also showed positive growth, prompting a shift towards focusing on household spending as a more comprehensive measure of consumption. [Extracted from the article]

Australian retail sales in October showed a 0.6% increase from the previous month, surpassing expectations. This growth was driven by discounts on discretionary items and increased spending on electrical goods. The Reserve Bank of Australia has kept interest rates steady at 4.35% throughout the year, with no expected changes until 2025. The Australian Bureau of Statistics plans to transition to a more detailed monthly report on household consumption by mid-2025, discontinuing the publication of retail sales data. [Extracted from the article]

Australia's household spending decreased slightly in September, possibly due to high interest rates and persistent inflation. The Australian Bureau of Statistics reported a 0.1% decline in spending from the previous month, with a 1.3% increase from a year earlier. The largest contributors to the monthly decrease were clothing and footwear, as well as transport expenses. The Reserve Bank of Australia has kept interest rates at a 12-year high of 4.35%, with no expected changes until 2025. The ABS plans to shift focus from retail sales data to a more comprehensive report on household spending by mid-2025. [Extracted from the article]

Australian retail sales in September were weaker than expected, increasing by only 0.1% compared to a forecasted 0.3% gain. High interest rates and strong inflation are believed to be impacting household spending. The Reserve Bank has raised interest rates to 4.35%, and retail sales rose 2.3% from a year earlier. Despite some positive signs in retail sales, households are facing continued pressure from elevated inflation. The Australian Bureau of Statistics plans to transition to a more comprehensive monthly report on household consumption in mid-2025. [Extracted from the article]

Australian retail sales in September were weaker than expected, increasing by only 0.1% compared to a forecasted 0.3% gain. High interest rates and strong inflation are impacting household spending, with a notable decline in liquor retailing affecting overall food spending. Despite this, retail sales rose 2.3% from a year earlier, and on a quarterly basis, sales climbed 0.5%, indicating a positive contribution to economic growth. The Reserve Bank of Australia has maintained a cash rate of 4.35% this year, with no expected changes until 2025, as inflation remains elevated. [Extracted from the article]

The global container shipping industry experienced a significant increase in profits, surpassing $10 billion in the second quarter of 2024. This surge in profits can be attributed to record volumes and rising freight rates, which were influenced by Red Sea diversions. Major container carriers, such as A.P. Moller-Maersk A/S and Cosco Shipping Holdings Co., saw their net income nearly double compared to the previous quarter. Despite challenges such as Houthi attacks in the Red Sea and congestion at major ports, global container volumes reached an all-time high. The demand for shipping has been particularly strong in the US due to concerns about new tariffs on Chinese goods and a potential dockworkers strike. [Extracted from the article]

Australian retail sales in May exceeded expectations, increasing by 0.6% compared to the previous month. This growth was largely driven by discounts offered by retailers in response to high borrowing costs. However, retail sales are still below the levels seen in early 2023 due to rising interest rates and other cost-of-living pressures. The Reserve Bank of Australia has expressed concerns about household spending, which accounts for more than half of the country's GDP. Despite the rate hikes, inflation remains a concern, and the labor market remains tight with unemployment at around 4%. [Extracted from the article]

Global chip sales have increased for the first time in over a year, signaling a rebound in demand driven by emerging technologies like artificial intelligence. Semiconductor revenue reached $48 billion in November 2023, a 5.3% increase from the previous year. While the industry has faced challenges due to soft demand for smartphones and higher interest rates, the return to growth is expected to be uneven among manufacturers. China led the rise in chip sales, with a 7.6% increase, while sales to Japan decreased by 2.8%. [Extracted from the article]

Australian retail sales in November exceeded economists' predictions, with a 2% increase compared to the expected 1.2% rise. This surge in sales was attributed to consumers taking advantage of Black Friday discounts and starting their Christmas shopping early. The Australian Bureau of Statistics noted that retailers extended their promotional periods and shoppers may have brought forward some Christmas spending that would typically occur in December. Retail sales are a significant factor in rate decisions, as consumer spending contributes to over half of the country's GDP. The Reserve Bank of Australia's upcoming meeting in February will consider these sales figures when making policy decisions. [Extracted from the article]

"Globally, entrepreneurialism is no longer the domain of men and higher socio-economic groups as it may have been in the past", Ipsos said in the report. (Bloomberg) -- US entrepreneurial growth since the pandemic was particularly robust in areas where minority groups comprise the majority of the population, according to the Alliance for Entrepreneurial Equity. A survey conducted by Ipsos, a Paris-based global market-research firm, found that non-traditional groups are becoming more active in entrepreneurship around the world. [Extracted from the article]

(Bloomberg) -- The Covid-19 crisis spurred a record number of startups in the U.S., as Americans rushed to create their own firms after being laid off or quitting their jobs in numbers never seen before. "BFS proved especially useful during Covid-19 in monitoring the weekly progress of business applications", Jarmin said. [Extracted from the article]

(Bloomberg) -- The U.K. economy grew less than expected despite the relaxation of lockdown curbs extended to restaurants, hotels and cinemas. Even if June's GDP reading shows no change from May, the economy will grow by 4.5% in the second quarter, the fastest pace since 1973 barring the post-lockdown rebound in the third quarter of last year, the ONS said. [Extracted from the article]

Job support programs are being wound down, and Prime Minister Boris Johnson plans to lift all remaining restrictions on July 19, despite the delta variant of coronavirus driving a fresh wave of infections. (Bloomberg) -- The U.K. economy grew less than expected as the relaxation of lockdown curbs extended to restaurants, hotels and cinemas. [Extracted from the article]

(Bloomberg) -- Early South Korea trade figures for March showed surprising resilience in exports before the full brunt of the coronavirus hit. Activity in China, South Korea's biggest market, is starting to return to normal, but Europe and the U.S. are grinding to a halt. [Extracted from the article]

(Bloomberg) -- Oil headed for a fifth weekly loss as the spreading coronavirus fueled demand concerns and OPEC+ awaited Russia's response to its proposal to cut output further. "Investors have tried to reprice for what they think demand shortfall could be due to the coronavirus and the quarantines, but all those are really guesses for everyone at the moment". [Extracted from the article]

China's January trade data was scheduled to be released Friday, but will instead be announced together with February's numbers, according to the customs administration. Announcing the January and February data together would allow a more meaningful read, especially as there wasn't likely to be any significant impact from the coronavirus on trade in January, she said. [Extracted from the article]

(Bloomberg) -- Emerging markets are headed into 2020 on a high note even if the U.S.-China trade talks remain a nagging risk for investors. There are many details on the phase-one trade deal that remain unclear, including the precise extent of China's commitment to agricultural purchases and what's expected with regards to its intellectual-property theft crackdown. [Extracted from the article]

(Bloomberg) -- Emerging markets are headed into 2020 on a high note even if the U.S.-China trade talks remain a nagging risk for investors. There are many details on the phase-one trade deal that remain unclear, including the precise extent of China's commitment to agricultural purchases and what's expected with regards to its intellectual-property theft crackdown. [Extracted from the article]

America's "Green Economy" Is Now Worth $1.3 Trillion (Bloomberg) -- If the U.S. wants to extend economic growth, it should double down on cleaning up the environment and fighting climate change, which are fueling both jobs and revenue, according to a new analysis by University College London researchers. That's why Maslin and lead author Lucien Georgeson accumulated their own data on the U.S. green economy, drawing on hundreds of often private databases containing granular, real-world business and transaction statistics. [Extracted from the article]

Sanctioned by the U.S., Iran's found a sweet way to use the cash it's accumulated from trading oil: Purchase sugar from India. Iran is struggling to spend the rupees it's made from oil sales to India that are sitting in the south Asian nation's banks. [Extracted from the article]

(Bloomberg Opinion) -- How to Measure the Economic Value of Ideas: Barry Ritholtz Davis said an "ideas multiplier" turned out to be a better way to think about technology and growth. [Extracted from the article]

Government indicators emerged to answer key policy questions Bank of Finland economist Eeva Kerola uses novel inflation gauges in a new discussion paper and finds that growth probably isn't as rapid as the government says. But they warn that if a hot economy, high debt issuance and waning global demand for Treasury securities get prices going, America "could conspire to create the perfect inflation storm" that would also be tough for the Fed to fix. [Extracted from the article]

The U.S. dethroned Hong Kong to retake first place among the world's most competitive economies, thanks to faster economic growth and a supportive atmosphere for scientific and technological innovation, according to annual rankings by the Switzerland-based IMD World Competitiveness Center. Notable improvements in the rankings from last year included Austria, which advanced seven spots to 18th position, and China, which jumped five spots to No. 13. [Extracted from the article]

(Bloomberg View) -- Trump Is Overhyping the U.S.-EU Trade Issues: Leonid Bershidsky If Trump decides to hit cars with tariffs too, that would be more important: The EU's surplus from trading in "automotive products" with the U.S. is a whopping 35.9 billion euros. [Extracted from the article]

(Bloomberg) -- A Tale of Two Surpluses: U.K. Puzzles Over Trade Data With U.S. A Tale of Two Surpluses: U.K. Puzzles Over Trade Data With U.S. In services, the U.K. reported a trade surplus with the U.S. of around 23 billion pounds in 2016, while the U.S. says it has one of around 10 billion pounds with the U.K. [Extracted from the article]

Canada's economy wasn't in a recession in 1970, even though output contracted in the first two quarters of that year, according to a C.D. Howe Institute research paper on Canadian business cycles. "The last three recessions were so horrible people didn't need us to tell them there was a recession", said Cross, who tracked business cycles for Statistics Canada before leaving the agency in 2012. [Extracted from the article]

Car sales in Russia will probably fall 35 percent this year as U.S. and European sanctions over Ukraine and a ruble collapse batter the economy and raise prices, according to PricewaterhouseCoopers. Penalties imposed by the U.S. and Europe have spurred a sell-off of assets and blocked Russian borrowers from international markets, while the central bank has raised its key rate to stem capital outflows. [Extracted from the article]

Japanese industrial output fell the most since the March 2011 earthquake, highlighting the widening impact to the economy of April's sales-tax increase. The economy is estimated to have contracted an annualized 5.2 percent in the April-June period, and will grow 2.4 percent this quarter, according to a Bloomberg survey of economists. [Extracted from the article]