world economic news

Economic News Daily – Monday 09/05/2022

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CHINA

China’s trade surplus expanded to $51.12 billion in April when compared to last month’s $47.38 billion, surprising investors’ expectations, the country’s General Administration of Customs said on Monday. The country’s exports increased by 3.9% in yuan terms on an annual basis, while imports stood unmoved on a monthly basis, falling below analysts’ projections.

JAPAN

The seasonally adjusted Japan Services Business Activity Index rose from 49.4 in March to 50.7 in April to indicate a renewed, albeit marginal, expansion in business activity, according to a report released by the IHS Markit on Monday. While the lifting of remaining restrictions aided the recovery in activity, stronger growth was held back by uncertainty linked to the Ukraine war, however.

TAIWAN

The annual inflation rate of Taiwan rose 3.38% in April from 3.27 percent in the previous month and beat market expectations of 3.25%. It was the highest inflation rate since August of 2012, amid a pickup in prices of food and housing.

US

Non-farm payroll employment surged by 428,000 jobs last month, matching the revised jump seen in March, according to a closely watched report released by the Labor Department on Friday. Economists had expected employment to climb by 391,000 jobs.

TURKEY

Turkey’s manufacturing PMI edged further into contraction territory in April, registering 49.2, following 49.4 in March, 50.4 in February and 50.5 in January