world economic news

Economic News Daily – Thursday 07/04/2022

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UK

House prices in the United Kingdom rose by 11% in March on an annual basis, the Halifax House Price Index report revealed on Thursday. On a monthly basis, prices increased by 1.4%, marking the biggest increase in six months. The average house price was £282,753.

MYANMAR

Myanmar’s new requirement that banks convert foreign currency into kyat will apply to a wide range of payments, including for exports and services, according to the Asian country’s central bank.

AUSTRALIA 

Figures from the Australian Bureau of Statistics out on Thursday showed the country’s trade surplus declined in February on higher imports. The trade surplus fell to A$7.46 billion in February from A$11.79 billion in January. The expected level was A$12.0 billion.

GERMANY

German industrial output expanded 0.2% in February, compared to the previous month, according to a report published by Destatis, the Federal Statistical Office on Thursday. On an annual basis, the manufacturing sector’s growth rose to 3.2%.

SOUTH AFRICA

South Africa private sector growth rose to a 4-month high in March,  despite increased global uncertainty, survey results published by S&P Global showed on Tuesday. The Purchasing Managers’ Index stood at 51.4 last month, up from 50.9 in February and above the 50.0 no-change threshold.

USA

Initial jobless claims came in at 166,000 last week, according to a report released by the Labor Department on Thursday, their lowest level since 1968, signaling the job market remains under pressure.