world economic news

World Economic News – 11/01/2022

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CHINA

Chinese banks extended CNY 1.4 trillion in new loans in December compared to CNY 1.21 trillion in the previous month, data published by the People’s Bank of China revealed on Tuesday. Lending was forecast to fall to CNY 1.1 trillion.

SPAIN

Industrial production dropped by adjusted 1.1% on a yearly basis, in contrast to the 2.1% rise in October, the Spanish statistical office INE said. This was the first decline since March.

TURKEY

The Turkish current account deficit widened to $3.666 billion in November from $352 million in October, data from the central bank showed on Wednesday.

MALAYSIA

Industrial production in Malaysia increased by 4.8% year-on-year in November, following a 4.6% rise in October, underpinned by mining and manufacturing, data from the Department of Statistics showed on Wednesday.

JAPAN

Japan’s leading index which measures future economic activity, dropped to 97.6 in November from 98.6 in the previous month, the Cabinet Office showed on Wednesday.

S. KOREA

South Korea’s unemployment rate grew in December, standing at 3.3% from 2.9% in November, data from Statistics Korea showed on Wednesday.

AUSTRALIA

Australia’s inflation accelerated in November on higher housing and food prices, the Australian Bureau of Statistics reported. The monthly consumer price index indicator advanced to 7.3% in November from 6.9% in October.

S. AFRICA

Manufacturing output in S. Africa dropped 1.1% year-over-year in November, reversing a 1.0% rise in October, data from Statistics South Africa showed on Tuesday. Economists had forecast a 2.3% drop for the month.