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[IFX Gertrude]

AUSTRALIA BUILDING PERMITS SPIKE IN SEPTEMBER



The total number of building permits issued in Australia jumped a seasonally adjusted 15.4 percent on month in September, the Australian Bureau of Statistics said on Monday - coming in at 15,827.

That beat forecasts for an increase of 1.3 percent following the 2.2 percent decline in August. Consents were up 8.8 percent on year.

The rise was driven by private sector dwellings excluding houses, which increased by 23.4 percent in September, but remains 12.1 percent lower than at the same time last year. Private sector houses rose 9.7 percent, driven by strength across all states and territories, to be 20.7 percent higher than at the same time last year.

The value of total building approved fell 17.0 percent in September, in seasonally adjusted terms. The value of non-residential building fell 36.7 percent, after rising 40.0 percent in August.

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[IFX Gertrude]

RBA CUTS KEY RATE TO RECORD LOW; EXPANDS QE



Australia's central bank unveiled a package of monetary easing to support job creation and the recovery of the economy from the pandemic.

The policy board of the Reserve Bank of Australia headed by the governor Philip Lowe decided to lower its key rate by 15 basis points to a record low of 0.10 percent.

The bank also decided to cut the target for the yield on the 3-year Australian Government bond to around 0.1 percent and to purchase A$100 billion government bonds of maturities of around 5 to 10 years over the next six months.

Further, the bank will reduce the interest rate on new drawings under the Term Funding Facility to 0.1 percent and cut the interest rate on Exchange Settlement balances to zero.

The bank said today's decision will assist the recovery by lowering financing costs for borrowers; contributing to a lower exchange rate than otherwise; and supporting asset prices and balance sheets.

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[IFX Gertrude]

PHILIPPINES POST $1.707 BILLION TRADE DEFICIT IN SEPTEMBER



The Philippines saw a merchandise trade deficit of $1.707 billion in September, the Bureau of Statistics said on Wednesday.

That follows the $2.075 billion shortfall in the previous month.

Imports were down 16.5 percent in year after tumbling an annual 22.6 percent in August.

Exports picked up 2.2 percent on year after sinking 18.6 percent a month earlier.

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[IFX Gertrude]

AUSTRALIA TRADE DATA DUE ON THURSDAY



Australia will on Thursday release September figures for imports, exports and trade balance, highlighting a busy day for Asia-Pacific economic activity. In August, imports were up 2.0 percent on month and exports were down 4.0 percent on month for a trade surplus of A$2.643 billion.

South Korea will see September data for current account, with forecasts suggesting a surplus of $8.29 billion - up from $6.57 billion in August.

Singapore will provide September numbers for retail sales; in August, sales were up 1.4 percent on month and down 5.7 percent on year.

Taiwan will release October figures for consumer and wholesale prices; in September, consumer prices were up 0.1 percent on month and down 0.58 percent on year, while wholesale prices tumbled an annual 8.12 percent.

Indonesia will provide Q3 numbers for gross domestic product, with forecasts suggesting an increase of 5.34 percent on quarter and a decline of 3.0 percent on year. That follows the 4.19 percent quarterly drop and the 5.32 percent yearly decline.

Thailand will see October data for consumer prices and consumer confidence. In September, overall inflation was down 0.7 percent on year and core CPI rose an annual 0.26 percent. The consumer confidence index had a score of 50.2.

The Philippines will release October figures for consumer prices; in September, overall inflation was up 0.1 percent on month and 2.3 percent on year, while core CPI climbed 3.2 percent on year.

Japan will see final October results for the services and composite indexes from Jibun Bank; the previous readings were 46.9 and 46.6, respectively.

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[IFX Gertrude]

JAPAN HOUSEHOLD SPENDING SINKS 10.2% ON YEAR IN SEPTEMBER



The average of household spending in Japan was down 10.2 percent on year in September, the Ministry of Internal Affairs and Communications said on Friday - coming in at 269,863 yen.

That beat forecasts for a decline of 10.7 percent following the 6.9 percent drop in August.

The average of monthly income per household stood at 469,235 yen, up 2.6 percent on year.

Individually, spending on furniture, clothing, medical care and recreation all were down sharply.

On a monthly basis, household spending rose 3.8 percent - beating forecasts for a gain of 2.2 percent following the 1.7 percent gain a month earlier.

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[IFX Gertrude]

AUSTRALIA TOTAL BUILDING PERMITS JUMP 15.4% IN SEPTEMBER



The total number of building permits issued in Australia in September was up a seasonally adjusted 15.4 percent on month at 15,827.

Permits for private sector houses rose 9.7 percent to 10,238 and permits for private sector dwellings excluding houses spiked 23.4 percent to 5,189.

On a yearly basis, total permits rose 8.8 percent, while private sector houses surged 20.7 percent and private sector dwellings excluding houses tumbled 12.1 percent.

The value of total building approved fell 17.0 percent in September, in seasonally adjusted terms. The value of non-residential building fell 36.7 percent, after rising 40.0 percent in August.

The value of total residential building fell slightly in September, by 0.7 percent. This was driven by a fall in the value of new residential building (1.0 percent), while the value of residential alterations and additions rose 1.1 percent.

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[IFX Gertrude]

PHILIPPINES GDP SINKS 11.5% ON YEAR IN Q3



The Philippines' gross domestic product contracted 11.5 percent on year in the third quarter of 2020, the Philippines Statistics Authority said on Tuesday.

That missed expectations for a decline of 9.8 percent following the 16.9 percent contraction in the three months prior.

On a seasonally adjusted quarterly basis, gross domestic product was up 8.0 percent - roughly in line with expectations following the 15.2 percent fall in the previous three months.

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[IFX Gertrude]

NEW ZEALAND RATE DECISION ON TAP FOR WEDNESDAY



The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and then announce tis decision on interest rates, highlighting a modest day for Asia-Pacific economic activity. The RBNZ is widely expected to keep its Official Cash Rate steady at 0.25 percent.

Australia will see November results for the consumer confidence index from Westpac Bank; in October, the index jumped 11.9 percent to a score of 105.

South Korea will release October figures for unemployment, with forecasts calling for the jobless rate to fall to 3.6 percent from 3.9 percent in September.

Indonesia will provide September data for retail sales; in August, sales were down 9.2 percent on year.

Japan will see October numbers for machine tool orders; in September, orders were down 15.0 percent on year.

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[IFX Gertrude]

JAPAN CORE MACHINERY ORDERS FALL MORE THAN EXPECTED



Japan core machinery orders declined more than expected in September weighing on the prospects of a sustained recovery in business investment.

Core machinery orders declined 4.4 percent on a monthly basis, in contrast to a 0.2 percent rise in August, data published by the Cabinet Office showed Thursday. This was the first fall in three months and worse than economists' forecast of 0.7 percent drop.

Year-on-year, core machinery orders were down 11.5 percent versus an expected fall of 11.6 percent.

Overall machinery orders also dropped 4.4 percent on month in September, reversing a 19.8 percent expansion posted in the previous month.

In the September quarter, the total value of machinery orders received by 280 manufacturers increased 7.8 percent from the previous three months.

Manufacturers expect overall machinery orders to fall 7.8 percent and core machinery orders to drop 1.9 percent in the fourth quarter.

Across this year non-residential investment is likely to have fallen by around 6.5 percent, Tom Learmouth, an economist at Capital Economics, said. And while the early distribution of an effective vaccine presents an upside risk, the recovery is likely to be lacklustre in 2021.

Another report from the Bank of Japan showed that producer prices continued to show negative growth in October.

Producer prices decreased 2.1 percent annually, following a 0.8 percent drop in September. Prices have been falling since March. Month-on-month, producer prices slid 0.2 percent in October, the same rate of fall as registered in September.

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[IFX Gertrude]

NEW ZEALAND FOOD PRICES CLIMB 2.7% ON YEAR IN OCTOBER



Food prices were up 2.7 percent on year in October, Statistics New Zealand said on Friday - down from 3.1 percent in September.

Individually, fruit and vegetable prices increased 10 percent on year; while meat, poultry, and fish prices increased 1.0 percent; grocery food prices increased 0.7 percent; non-alcoholic beverage prices were flat; and restaurant meals and ready-to-eat food prices increased 3.4 percent.

Food prices fell 0.7 percent in October 2020. After seasonal adjustment, they were up 0.1 percent.

Individually, fruit and vegetable prices fell 5.6 percent (flat after seasonal adjustment); while meat, poultry, and fish prices rose 0.5 percent; grocery food prices fell 0.2 percent (down 0.2 percent after seasonal adjustment); non-alcoholic beverage prices rose 1.1 percent; and restaurant meals and ready-to-eat food prices were flat.

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