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In February, Japan's real wages fell for the 23rd consecutive month, with a 1.3% decrease year-on-year, as salary increases failed to keep pace with inflation, and overtime pay decreased by 1.00%. The Japanese average cash earnings YoY was 1.8%, and the current account stood at 2,644.2B Yen, with a trade balance of -280.9B. This ongoing decline dampens the Bank of Japan's hopes for a 'virtuous cycle' of economic growth. Additionally, Japan's service-sector sentiment fell in March due to rising living costs and adverse weather, complicating the Bank of Japan's rate hike path. Meanwhile, in Germany, industrial production rose for the second consecutive month in February by 2.1%, signaling a potential turnaround for the economy. However, German exports fell more than expected during the same period, with a notable drop in exports to European Union countries, and the trade balance was 21.4B. The Philippine central bank has kept its benchmark interest rate unchanged at a 17-year high amid resurgent inflation and a recent decline in the peso.
Japan's real wages fall in February for 23rd month: Japan's real wages in February were down 1.3 percent from a year earlier, marking the 23rd consecutive month of decline, as salary increases failed to keep pace with⦠https://t.co/qp1aOuIgmh #japannews #japantoday
Good Morning from #Germany where the industry shows some signs of life. German industrial production rose for a 2nd consecutive month in February, confirming the sector started the year better. The 2.1% MoM rise in industrial production was much better than 0.5% MoM increase⦠https://t.co/m5eL3o0eB9
German exports fall more than expected in February https://t.co/gicmYoMiYL https://t.co/5CDsqhfo9F
The Philippine central bank keeps its benchmark interest rate unchanged at a 17-year high amid resurgent inflation and recent decline in the peso https://t.co/2tVYtyh6hP
German industrial output rises in February, beating forecasts https://t.co/VXVg2vkKjY https://t.co/ipUA7D8Wpu
β οΈ GERMAN EXPORTS FALL MORE THAN EXPECTED IN FEBRUARY Full Story β https://t.co/dPnfedWHkP German exports fell more than expected in February, as exports to European Union countries dropped, data from the Federal Statistics Office showed on Monday. https://t.co/Pejohqgpz4
Heads Up:π΅π Interest Rate Decision due at 07:00 GMT (15min) Expected: 6.5% Previous: 6.5% https://t.co/7T8R2Td8eS
German industrial production rises in further turnaround signal https://t.co/Y1Ose7ghlS via @weberalexander https://t.co/i17syNdZDh
Japan's real wages fall for 23rd straight month, dampening Bank of Japan's hopes for 'virtuous cycle' https://t.co/bUZ4HRdFDD
German industrial production increased for a second month, underpinning hopes the economy is turning around https://t.co/LAHVa37rrd
β οΈ JAPAN'S SERVICE-SECTOR MOOD SLUMPS, CLOUDS BOJ RATE HIKE PATH Full Story β https://t.co/kL0546wRKJ Japan's service-sector sentiment fell in March as rising living costs and bad weather weighed on consumption, a government survey showed, heightening uncertainty on how soonβ¦
NORWAY (FEB) IND PROD MANUFACTURING WDA YOY ACTUAL: -2.2% VS -0.3% PREVIOUS
NORWAY (FEB) IND PROD MANUFACTURING MOM ACTUAL: -1.1% VS 0.0% PREVIOUS
NORWAY (FEB) INDUSTRIAL PRODUCTION WDA YOY ACTUAL: 1.8% VS 8.3% PREVIOUS
NORWAY (FEB) INDUSTRIAL PRODUCTION MOM ACTUAL: -4.3% VS 2.1% PREVIOUS
π©πͺ Germany German Industrial Production (YoY) (Feb) $EUR Actual: -4.90% Previous: -5.35%
GERMANY (FEB) TRADE BALANCE SA ACTUAL: 21.4B VS 27.5B PREVIOUS;EST 25B
GERMANY (FEB) INDUSTRIAL PRODUCTION SA MOM ACTUAL: 2.1% VS 1% PREVIOUS;EST 0.5%
π©πͺ Germany German Trade Balance (Feb) $EUR Actual: 21.4B π΄ Expected: 25.1B Previous: 27.5B
π΄ GERMAN EXPORTS FEBRUARY 2024 FULL REPORT https://t.co/shloNtiquG
π΄ GERMAN INDUSTRIAL PRODUCTION FEBRUARY 2024 FULL REPORT https://t.co/fkeHlrtypU
π΄ GERMAN IMPORTS MOM SA ACTUAL 3.2% (FORECAST -1.2%, PREVIOUS 3.6%) $MACRO
π΄ GERMAN TRADE BALANCE SA ACTUAL 21.4B (FORECAST 25B, PREVIOUS 27.5B) $MACRO
π΄ GERMAN INDUSTRIAL PRODUCTION YOY SA ACTUAL -4.9% (FORECAST -6.8%, PREVIOUS -5.35%) $MACRO
π¨π Switzerland Unemployment Rate s.a. (Mar) $CHF Actual: 2.3% π’ Expected: 2.2% Previous: 2.2%
π¨π Switzerland Unemployment Rate n.s.a. (Mar) $CHF Actual: 2.4% Previous: 2.4%
π¨π Unemployment Rate (Mar) Actual: 2.4% Previous: 2.4% https://t.co/7T8R2Td8eS
π΄ SWISS UNEMPLOYMENT RATE ADJUSTED ACTUAL 2.3% (FORECAST 2.2%, PREVIOUS 2.2%) $MACRO
π΄ SWISS UNEMPLOYMENT RATE UNADJUSTED ACTUAL 2.4% (FORECAST 2.3%, PREVIOUS 2.4%) $MACRO
Heads Up:π©πͺ Exports MoM (Feb) due at 06:00 GMT (15min) Expected: -0.5% Previous: 6.3% https://t.co/7T8R2Td8eS
Heads Up:π¨π Unemployment Rate (Mar) due at 05:45 GMT (15min) Previous: 2.4% https://t.co/7T8R2Td8eS
π΄ JAPANESE ECONOMY WATCHERS POLL ACTUAL 49.8 (FORECAST 51.8, PREVIOUS 51.3) $MACRO
π―π΅ Eco Watchers Survey: Outlook (Mar) Actual: 51.2 Previous: 53 https://t.co/7T8R2Td8eS
π―π΅ Japan Economy Watchers Current Index (Mar) $JPY Actual: 49.8 π΄ Expected: 51.6 Previous: 51.3
π―π΅ Eco Watchers Survey Current (Mar) Actual: 49.8 Previous: 51.3 https://t.co/7T8R2Td8eS
Heads Up:π―π΅ Eco Watchers Survey: Outlook (Mar) due at 05:00 GMT (15min) Previous: 53 https://t.co/7T8R2Td8eS
Heads Up:π―π΅ Eco Watchers Survey Current (Mar) due at 05:00 GMT (15min) Previous: 51.3 https://t.co/7T8R2Td8eS
Australian housing finance rebounds 1.5% in February @JFosterFM #ausbiz https://t.co/XkY108F7W6
Japan real wages fall in February for 23rd month, down 1.3% on year https://t.co/Wdo0TIj0XO
β οΈ ASIA STOCKS HESITANT, DOLLAR FIRMS AS US PAYROLLS DENT FED RATE CUT WAGERS Full Story β https://t.co/b26A56VH2d https://t.co/LZQZvzW0d7
π¦πΊ Australia Home Loans (MoM) $AUD Actual: 1.6% π΄ Expected: 2.3% Previous: -0.9%
π¦πΊ Australia Invest Housing Finance (MoM) $AUD Actual: 1.2% Previous: -2.6%
A small rebound in housing finance approvals in Feb with an uptick across categories outside of construction https://t.co/KfGo6wtmb5
Investor loans rose 1.2% in February https://t.co/Kjn0btrUwT
π¦πΊ Investment Lending for Homes (Feb) Actual: 1.2% Previous: -2.6% https://t.co/7T8R2Td8eS
π¦πΊ Home Loans MoM (Feb) Actual: 1.6% Expected: 2.25% Previous: -4.6% https://t.co/7T8R2Td8eS
π΄ AUSTRALIA: VALUE OF INVESTMENT HOUSING FINANCE RISES 1.2% MONTH ON MONTH, SEASONALLY ADJUSTED EXCLUDING REFINANCING
π΄ AUSTRALIAN HOUSING FINANCE MOM ACTUAL 1.60% (FORECAST -, PREVIOUS -4.60%) $MACRO
Heads Up:π¦πΊ Investment Lending for Homes (Feb) due at 01:30 GMT (15min) Previous: -2.6% https://t.co/7T8R2Td8eS
Heads Up:π¦πΊ Home Loans MoM (Feb) due at 01:30 GMT (15min) Expected: 2.25% Previous: -4.6% https://t.co/7T8R2Td8eS
β οΈ JAPAN FEB CURRENT ACCOUNT SURPLUS RISES, MISSES ESTIMATES Full Story β https://t.co/0vlX9bHws0 https://t.co/qn8m6oltWm
Japanese workersβ real wages fell in February for a 23rd consecutive month after consumer price growth accelerated https://t.co/Bcf4ci50SV
JAPAN (FEB) TRADE BALANCE BOP BASIS ACTUAL: -280.9B VS -1442.7B PREVIOUS; EST -192.7B
π΄ JAPANESE CURRENT ACCOUNT NSA YEN ACTUAL 2,644.2B (FORECAST 3050B, PREVIOUS 438.2B) $MACRO
Japan real wages fall for 23rd straight month in Feb https://t.co/pShvV5jtJa https://t.co/RDVjh4KFwy
Japan Labour Cash Earnings (Y/Y) Feb: 1.8% (est 1.8%; prev 2.0%) - Real Cash Earnings (Y/Y) Feb: -1.3% (est -1.4%; prev -0.6%) - Cash Earnings Same Sample Base (Y/Y) Feb: 1.9% (est 2.0%; prev 2.0%) - Scheduled Full Time Pay Same Base (Y/Y) Feb: 2.1% (est 2.0%; prev 2.0%)
β οΈ JAPAN REAL WAGES FALL FOR 23RD STRAIGHT MONTH IN FEB Full Story β https://t.co/Lb7PyZ8xH2 https://t.co/l8BlIYsL9I
π―π΅ Japan Overtime Pay (YoY) (Feb) $JPY Actual: -1.00% Previous: 0.40%
π―π΅ Japan Overall wage income of employees (Feb) $JPY Actual: 1.8% Expected: 1.8% Previous: 2.0%
π΄ JAPANESE AVERAGE CASH EARNINGS YOY ACTUAL 1.8% (FORECAST 1.8%, PREVIOUS 2.0%) $MACRO
π΄ JAPAN SEES -1.3% YEAR ON YEAR INFLATION-ADJUSTED REAL WAGES IN FEBRUARY - GOVT.
Tomorrow morning Housing finance, Feb 2024 Last: -3.9pc Mkt f/c: 2pc Range: -2.9pc to 4.5pc Rate hikes weighing on finance approval activity; especially construction finance, which is frankly farked #ausbiz π¦πΊ