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☆ China's factory gate prices suffer first drop since Dec 2020 as COVID curbs take toll
▼ + stars: | 2022-11-09 | by ( Anant Chandak | Tetsushi Kajimoto | ) www.reuters.com time to read: +4 min

The consumer inflation also moderated from a 29-month high in September, and underlying price pressures remained much more modest with core inflation rising 0.6% in October, unchanged from September. "However, the worsening of global growth is denting external demand." Reuters Graphics Reuters GraphicsPOLICY CHALLENGEThe consumer price index climbed 2.1% from a year earlier, easing from a 29-month high of a 2.8% increase in September, mainly driven by falling food prices. Food prices rose 7.0% in annual terms, slowing from 8.8% rise in the previous month, with fresh vegetable prices off 8.1% from a 12.1% rise in September. However, Pork prices - a key driver of the CPI - rose 51.8% year-on-year in October, faster than 36% growth in September.

☆ China's factory gate prices drop for first time since Dec 2020 as COVID curbs take toll
▼ + stars: | 2022-11-09 | by ( Anant Chandak | Tetsushi Kajimoto | ) www.reuters.com time to read: +4 min

☆ China's factory gate prices fall for first time since Dec 2020 as COVID curbs bite
▼ + stars: | 2022-11-09 | by ( Anant Chandak | Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

The deflationary impulse in the producer price gauge partly reflected the sharply higher year-ago levels and falling commodity prices, according to an accompanying NBS statement. The consumer price index (CPI) climbed 2.1% from a year earlier, easing from a 29-month high of a 2.8% increase in September, mainly driven by falling food prices. read moreAlmost three years into the pandemic, China has pledged to press on with its strict COVID-19 containment strategy. China's yuan currency has already been pummelled this year by the global tightening trend and a buoyant U.S. dollar. read moreReporting by Liangping Gao and Liz Lee Editing by Shri NavaratnamaOur Standards: The Thomson Reuters Trust Principles.

☆ Revolut pays some senior talent up to $300,000 in base salary and is still hiring. Here are 3 valuable traits in applicants, according to its global head of HR.
▼ + stars: | 2022-11-03 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +6 min

Banking unicorn Revolut is hiring for over 200 positions, as mass layoffs hit the tech industry. Getting a job at Revolut is a highly competitive process, its global head of HR said. Revolut is growing and "expanding in many countries," global head of HR Alexandra Loi said in an interview. The company is being "cautious" in the downturn about hiring the right people for the right roles, but it is still "fully going on with recruitment." Loi said that the company is still hiring for over 200 roles, primarily in engineering, sales, and other corporate functions.

☆ Indonesia foreign arrivals rebound further in September
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Nov 1 (Reuters) - Foreign arrivals to Indonesia in September hit their highest level since the start of the pandemic, official data showed on Tuesday, as more visitors returned to resort destinations like Bali after an easing of COVID-19 restrictions. There were about 538,300 arrivals in September, up from only 5,000 in the same month a year ago, with the majority going to Bali, said Setianto, deputy head of Statistics Indonesia. Arrivals in September were slightly ahead of the previous month's figure of 510,200. For the January-Sept period, Indonesia saw 2.27 million visitors compared with 86,245 in the same period last year, when travel restrictions to curb COVID-19 were in place. However, arrivals remained far below the pre-pandemic levels in the same periods of 2018 and 2019, when Indonesia had nearly 10 million foreign visitors.

☆ China’s Factory Slowdown Worse Than Expected Under Weight of Covid Policies
▼ + stars: | 2022-10-31 | by ( Stella Yifan Xie | ) www.wsj.com time to read: 1 min

HONG KONG—China’s factory activity contracted in October after a short-lived improvement, a fresh sign of the toll from the country’s stringent Covid policies and of fading global demand for Chinese-made goods. The official purchasing managers index for manufacturing fell to 49.2 from 50.1 in September, the National Bureau of Statistics said Monday. The result fell short of the 49.7 median forecast of economists polled by The Wall Street Journal, underscoring the vulnerability of China’s economy to its pandemic-control policies. A reading below 50 indicates contraction in activities.

☆ China's factory, services activity skids on relentless COVID curbs
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +4 min

The official manufacturing purchasing managers' index (PMI) fell to 49.2 from 50.1 in September, the National Bureau of Statistics (NBS) said on Monday. The poll showed China's growth could pick up to 5.0% in 2023. DEMAND WEAKENSThe manufacturing PMI survey pointed to weakening demand with the new orders subindex showing contraction for the fourth straight month. The official manufacturing PMI largely focuses on big and state-owned firms. The private sector Caixin manufacturing PMI, which centres more on small firms and coastal regions, will be published on Tuesday.

☆ China's factory, services activity skids on persistent COVID curbs
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +4 min

☆ China's Oct factory activity unexpectedly skids amid slowing demand
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas PeterSummary Official manufacturing PMI unexpected fall in OctOfficial services PMI contracts in OctBEIJING, Oct 31 (Reuters) - China's factory activity unexpectedly fell in October, an official survey showed on Monday, weighed by softening global demand and strict COVID-19 restrictions, which hit production. The official manufacturing purchasing managers' index (PMI) stood at 49.2 from a 50.1 reading in September, the National Bureau of Statistics (NBS) said. The poll showed China's growth could pick up to 5.0% in 2023. The official manufacturing PMI largely focused on big and state-owned firms. The private sector Caixin manufacturing PMI, which centres more on small firms and coastal regions, will be published on Tuesday.

☆ China's services sector activity falls - official PMI
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +1 min

[1/2] A waiter cleans the floor of a restaurant after closing hours in Beijing, China October 28, 2019. Picture taken October 28, 2019. REUTERS/Thomas PeterBEIJING, Oct 31 (Reuters) - China's October services activity fell for the first time since May, as strict COVID restrictions halted travel and gatherings over the Golden Week holiday period, striking a big blow to consumption. The official non-manufacturing purchasing managers' index (PMI) stood at 48.7 from 50.6 in September, the National Bureau of Statistics said on Monday. China's official composite PMI, which includes both manufacturing and services activity, stood at 49.0 from 50.9 in September.

☆ China's factory activity drops, bogged down by more Covid controls
▼ + stars: | 2022-10-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

China's factory activity declined in October, official data showed Monday. BEIJING — China's factory activity fell in October due to frequent Covid outbreaks, the National Bureau of Statistics said Monday. The official purchasing managers' index for manufacturing fell to 49.2 this month, down from 50.1 in September, the data showed. Readings below 50 indicate a contraction in business activity, while figures 50 above reflect expansion. Sub-indicators on factory employment, production, new orders and supplier delivery time all showed contraction in October compared to September.

☆ Asia-Pacific markets set to rise ahead of China factory activity data
▼ + stars: | 2022-10-31 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

Pedestrians cross a street in front of the Tokyo Stock Exchange, operated by Japan Exchange Group, in Tokyo, Japan. Shares in the Asia-Pacific are set to rise on Monday ahead of China's factory activity data that's slated to be released, and as markets look ahead to the U.S. Fed meeting later this week. On Friday in the U.S., major stock indexes jumped 2% each on optimism that inflation may be slowing. Later this week, the Federal Reserve will hold its policy meeting and announce its interest rate decision. Several countries will report inflation data this week.

☆ Australia retail sales up again in Sept as spending stays resilient
▼ + stars: | 2022-10-31 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

SYDNEY, Oct 31 (Reuters) - Australian retail sales posted another solid increase in September thanks to spending on food, clothing and eating out with consumption staying surprisingly resilient in the face of surging inflation and higher interest rates. Data from the Australian Bureau of Statistics (ABS) on Monday showed retail sales rose 0.6% in September from August to a record A$35.1 billion ($22.48 billion). Markets are wagering on a quarter-point hike to 2.85%, with a one-in-five chance of a return to 50 basis point moves given inflation surprised on the high side in the third quarter. He noted the hefty 250 basis points if tightening already delivered would have had little effect on inflation in the third quarter, or even this quarter, given inflation is a lagging indicator. ($1 = 1.5615 Australian dollars)Reporting by Wayne Cole; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ China's Jan-Sept industrial profits fall at faster pace
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 27 (Reuters) - Profits at China's industrial firms fell at a faster clip in the January-September period as COVID-19 curbs and a worsening property crisis continued to weigh heavily on factory activity. After nearly contracting in spring, China's third-quarter economic growth was faster than expected, helped by a raft of government measures. read moreLast month, China's industrial output jumped 6.3% from a year earlier, outstripping expectations for 4.5% growth and a 4.2% expansion in August. Despite better-than-expected third quarter GDP growth, analysts at Goldman Sachs cut their fourth quarter growth forecast to 3.5% on a quarter-on-quarter annualised basis from 5.0% previously. Industrial profits data covers large firms with annual revenues above 20 million yuan ($2.79 million) from their main operations.

☆ Australia inflation races to 32-year high, sounds rate alarm
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: 1 min

SYDNEY, Oct 26 (Reuters) - Australian inflation raced to a 32-year high last quarter as the cost of home building and gas surged, an alarming result that will stoke pressure for a return to more aggressive rate hikes by the country's central bank. Data from the Australian Bureau of Statistics on Wednesday showed the consumer price index (CPI) jumped 1.8% in the September quarter, topping market forecasts of 1.6%. The annual rate shot up to 7.3%, from 6.1%, the highest since 1990 and almost three times the pace of wage growth. A closely watched measure of core inflation, the trimmed mean, also climbed 1.8% in the quarter, lifting the annual pace to 6.1% and again far above forecasts of 5.6%. Reporting by Wayne Cole; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Australia has bulwark against China slowdown
▼ + stars: | 2022-10-26 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

The country is Australia’s biggest trading partner, accounting for up to a third of its roughly A$475 billion ($303 billion) of annual exports. Its voracious demand over the past three decades helped Australia enjoy almost 30 years without a recession until the 2020 pandemic. As Treasurer Jim Chalmers’ first budget on Tuesday shows, though, Australia has some shock absorbers. If it doesn’t Australia won’t be able to escape the fallout entirely, but at least has some defences. Australia’s budget deficit for the financial year to June 30 2023 is expected to be A$36.9 billion ($23.3 billion).

REUTERS/Tingshu WangSummary Sept new home prices fall 0.2% m/m, down for second monthNew home prices down 1.5% y/y, fastest pace since Aug 201554 cities out of 70 report price declinesBEIJING, Oct 24 (Reuters) - China's September new home prices fell for the second straight month as mortgage boycotts, a heightened debt crisis and COVID-19 curbs weighed on homebuyers' sentiment. China's property sector has been beset by multiple headwinds after regulators clamped down on excessive borrowing since mid-2020. In monthly terms, new home prices in tier-two cities fell 0.2% and declined 0.4% in tier-three cities. Property investment fell 12.1% from a year earlier, slightly narrowing from a 13.8% fall in August. "There is little room to give more help to real estate property developers as doing so will risk the credibility of government reform (for property developers, that means the deleveraging reform)," said Iris Pang, chief economist for Greater China at ING.

☆ China new home prices fall for second month in September
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Tingshu WangSummary Sept new home prices fall 0.2% m/m, down for second monthNew home prices down 1.5% y/y, fastest pace since Aug 201554 cities out of 70 report price declinesBEIJING, Oct 24 (Reuters) - China's new home prices fell for the second straight month in September, as its property sector grappled with a mortgage boycott, a heightened debt crisis and COVID-19 restrictions that dimmed the economic outlook. China's property sector has been beset by multiple headwinds after regulators clamped down on excessive borrowing since mid-2020. Property investment fell 12.1% from a year earlier, slightly narrowing from a 13.8% fall in August. China reiterated its "housing is for living, but not for speculation" in the full work report of the Communist Party Congress. Analysts from Nomura said in a note that a comprehensive solution to the property sector might not be introduced until after March 2023, when Beijing's political reshuffle is fully completed.

☆ China new home prices fall 0.2% m/m in September
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

Residential buildings are pictured near a construction site in Beijing, China April 14, 2022. Picture taken April 14, 2022. New home prices in September fell 0.2% month-on-month from a 0.3% drop in August, according to Reuters calculations based on National Bureau of Statistics (NBS) data released on Monday. New home prices in September declined 1.5% year-on-year, compared with a 1.3% decline in August. China has rolled out a flurry of policies to revive the embattled sector, including relaxing on mortgage rates and refunding individual income tax for some home buyers.

☆ China chip imports drop 12.4% year-on-year in September - govt data
▼ + stars: | 2022-10-24 | by ( Josh Horwitz | ) www.reuters.com time to read: +2 min

SHANGHAI, Oct 24 (Reuters) - China's chip imports fell 12.4 percent in September, according to official customs data published on Monday, continuing a decline amid tensions with the United States and an ongoing chip shortage. The country imported 47.6 billion chip units during the month, compared with 54.3 billion units in September 2021, according to the data, which had been due for release earlier this month but was delayed due to the Communist Party Congress. Register now for FREE unlimited access to Reuters.com RegisterIn the first nine months of 2021, China imported 417.1 billion units of chips, down 12.8 percent year-on-year. Chip imports to China surged in 2021, as tensions between the U.S. and China over technology policy escalated and a global chip shortage caused many companies in China to stockpile supplies. Separate data from the National Bureau of Statistics showed that domestic chip output in September fell 16.4% year-on-year to 26.1 billion units.

☆ China’s Economy Grew 3.9% in the Third Quarter
▼ + stars: | 2022-10-23 | by ( Jason Douglas | Stella Yifan Xie | ) www.wsj.com time to read: 1 min

SINGAPORE—China’s economy grew more strongly than expected in the third quarter as the country bounced back modestly from crippling Covid lockdowns in the spring, though challenges remain as leader Xi Jinping consolidates control of the political apparatus for another five years. China’s gross domestic product grew by 3.9% for the three months ended Sept. 30 from a year earlier, China’s National Bureau of Statistics said Monday in a data release that was unexpectedly delayed as Communist Party leaders gathered for a key meeting in Beijing.

☆ China GDP: 2022 Q3 data stronger-than-expected after Xi Jinping secures third term in power
▼ + stars: | 2022-10-23 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN Business —China released stronger-than-expected GDP and other economic data on Monday, just a day after Xi Jinping clinched a historic third term in power following the conclusion of a major political gathering. But Hong Kong’s Hang Seng (HSI) Index, a key gauge of overseas investor sentiment on China, tumbled at Monday’s open and headed for its biggest losses in more than seven months. On Monday, Hong Kong’s benchmark Hang Seng Index opened down and sank 4.6% in early trading, poised for its biggest daily decline since March. The Hang Seng Tech Index, which tracks 30 largest technology firms listed in Hong Kong, plunged nearly 6%. Meanwhile, the Shanghai Composite Index, which trades on the tightly controlled domestic market in China, dropped 0.5%.

☆ Australia's jobs engine brakes in Sept, supports slower rate hikes
▼ + stars: | 2022-10-20 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

SYDNEY, Oct 20 (Reuters) - Australian employment posted a disappointingly small rise in September in a hint that a very tight labour market might finally be loosening, lessening pressure for faster increases in interest rates. The miss on jobs supports the Reserve Bank of Australia's (RBA) decision this month to slow the pace of rate hikes to quarter-point moves, having already lifted rates by 250 basis points since May. The jobless rate held near 48-year lows at 3.5% in September, while the participation was just off record highs at 66.6%. This is a major reason why markets fully expect another rate rise of 25 basis points in November. The RBA has argued it can afford to go slower than the Fed since wages in Australia are growing at half the pace of those in the United States, even with a very tight labour market.

☆ Australia jobless rate holds at 3.5%, employment misses forecasts
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: 1 min

SYDNEY, Oct 20 (Reuters) - Australia's jobless rate stayed near five-decade lows at 3.5% in September, though there was a potential sign of loosening in the very tight labour market as employment rose by much less than expected. Figures from the Australian Bureau of Statistics on Thursday showed net employment rose just 900 in September from August, when they jumped 36,300. That was well short of market forecasts for an increase of 25,000. The jobless rate held at 3.5%, as did the participation rate at 66.6%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Wayne Cole; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ China’s Economic Data Gets Harder to Find as Growth Slows
▼ + stars: | 2022-10-18 | by ( Stella Yifan Xie | ) www.wsj.com time to read: 1 min

HONG KONG—The world is eager for clues about the health of China’s economy as the country endures its worst prolonged slowdown in years. But getting a clear picture has only grown more difficult, as data becomes harder to obtain and unflattering analysis vanishes. On Monday, China’s National Bureau of Statistics abruptly canceled the release of quarterly gross domestic product data just hours before it was set to be published, without providing a reason or setting a new date. Days earlier, the country’s customs agency simply didn’t release monthly official trade data, offering no explanation.

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