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SINGAPORE NON-OIL DOMESTIC EXPORTS SINK 2.8% IN FEBRUARY

The value of non-oil domestic exports in Singapore was down a seasonally adjusted 2.8 percent on month in February, Statistics Singapore said on Thursday/

That missed expectations for a decline of 0.3 percent following the 5.0 percent increase in January.

On a yearly basis, non-oil domestic exports climbed 9.5 percent - again missing forecasts for an increase or 15.7 percent and down from 17.6 percent in the previous month.

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JAPAN CONSUMER PRICES JUMP 0.9% ON YEAR IN FEBRUARY

Consumer prices in Japan were up 0.9 percent on year in February, the Ministry of Internal Affairs and Communications said on Friday.

That exceeded forecasts for an increase of 0.7 percent and accelerated from 0.5 percent in January.

On a monthly basis, inflation added 0.4 percent following the flat reading in the previous month.

Core CPI, which excludes volatile food prices, rose 0.6 percent on year after gaining 0.2 percent a month earlier.

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NEW ZEALAND HAS NZ$385 MILLION TRADE SHORTFALL IN FEBRUARY

Japan posted a seasonally adjusted merchandise trade deficit of NZ$385 million in February, Statistics New Zealand said on Monday. That follows the downwardly revised NZ$1,126 million deficit in January (originally a trade deficit of NZ$1.082 billion).

Exports were worth NZ$5.49 billion last month, up from the downwardly revised NZ$4.8 billion a month earlier (originally NZ$4.86 billion).

Imports were at NZ$5.88 billion, down from the downwardly revised NZ$5.92 billion in the previous month (originally NZ$5.94 billion).

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JAPAN LEADING INDEX DATA DUE ON TUESDAY

Japan will on Tuesday release final January figures for its leading and coincident indexes, highlighting a light day for Asia-Pacific economic activity.

In December, the leading index had a score of 104.7, while the coincident was at 92.7.

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SOUTH KOREA PRODUCER PRICES RISE 8.4% ON YEAR IN FEBRUARY

Producer prices in South Korea were up 8.4 percent on year in February, the Bank of Korea said on Wednesday - slowing from 8.9 percent in January.

Individually, prices for agricultural, forestry and marine products fell 6.6 percent on year, while manufacturing products jumped 14.0 percent, utilities climbed 12.0 percent and services rose 2.5 percent.

On a monthly basis, producer prices rose 0.4 percent, down from 1.1 percent in the previous month.

Individually, prices for agricultural, forestry and marine products fell 5.1 percent on month, while manufacturing products added 1.1 percent, utilities eased 0.1 percent and services were flat.

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BOJ MINUTES: JAPAN ECONOMY CONTINUES TO RECOVER

Members of the Bank of Japan's Monetary Policy Board said that Japan's economic recovery is continuing at a satisfactory pace in the wake of the COVID-19 pandemic, minutes from the bank's January 17-18 meeting revealed on Thursday.

Corporate profits and business sentiment continue to improve, the minutes showed, although employment and income remain weak.

To that end, the board said it finds it appropriate to maintain its current monetary easing and support stability in the financial markets.

At the meeting, the BoJ voted 8-1 to maintain its monetary policy stimulus unchanged at -0.1 percent on current accounts that financial institutions maintain at the central bank. It also lifted its inflation forecast for the next fiscal year, citing a rise in commodity prices.

The bank also said it will continue to purchase a necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent.

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TOKYO INFLATION DATA DUE ON FRIDAY

Japan will on Friday release March figures for consumer prices in the Tokyo region, highlighting a modest day for Asia-Pacific economic activity. In February, overall inflation was up 1.0 percent on year and core CPI rose an annual 0.5 percent.

Singapore will release February numbers for industrial production, with forecasts suggesting a decline of 0.9 percent on month and an increase of 6.3 percent on year. That follows the 10.7 percent monthly drop and the 2.0 percent yearly gain in January.

Taiwan will see March results for its consumer confidence index; in February, the index score was 73.19.

China will provide final Q4 figures for current account; in the three months prior, the current account surplus was $73.6 billion.

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HONG KONG TRADE DATA DUE ON MONDAY

Hong Kong will on Monday release February figures for imports, exports and trade balance, highlighting a light day for Asia-Pacific economic activity.

In January, imports were up 9.6 percent on year and exports jumped an annual 18.4 percent, resulting in a HKD6.6 billion trade surplus.

Taiwan will see March results for its consumer confidence index; in February, the index score was 73.19.

The Philippines also will provide Q1 results for its consumer confidence index; the reading in the three months prior was -24.0.

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AUSTRALIA RETAIL SALES JUMP 1.8% IN FEBRUARY

The total value of retail sales in Australia was up a seasonally adjusted 1.8 percent on month in February, the Australian Bureau of Statistics said on Tuesday - coming in at A$33.085 billion.

That beat expectations for an increase of 1.0 percent following the downwardly revised 1.6 percent increase in January (originally 1.8 percent).

Individually, sales were up for household goods, clothing, department stores and restaurants; sales were down for food retailing and other retailing.

On a yearly basis, retail sales climbed 9.1 percent.

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JAPAN RETAIL SALES SINK 0.8% IN FEBRUARY

The total value of retail sales in Japan was down 0.8 percent on year in February, the Ministry of Economy, Trade and Industry said on Wednesday - coming in at 11.537 trillion yen.

That missed expectations for a loss of 0.3 percent following the downwardly revised 1.1 percent increase in January (originally 1.6 percent).

On a monthly basis, retail sales were again down 0.8 percent after slipping 0.9 percent in the previous month.

Commercial sales were down 0.2 percent on month and up 6.2 percent on year to 44.732 trillion yen, while wholesale sales dropped 1.5 percent on month and gained 8.8 percent on year to 33.196 trillion yen.

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AUSTRALIA PRIVATE SECTOR CREDIT GAINS 0.6% ON MONTH IN FEBRUARY

Private sector credit in Australia was up 0.6 percent on month in February, the Reserve Bank of Australia said on Thursday - unchanged from the January reading.

Housing credit also rose 0.6 percent on month, while personal credit was flat and business credit gained 0.8 percent.

On a yearly basis, overall credit jumped 7.9 percent - accelerating from 7.6 percent in the previous month.

Housing credit gained an annual 7.8 percent, while personal credit fell 3.0 percent and business credit jumped 98 percent.

Broad money was up 0.3 percent on month and 8.8 percent on year.

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BOJ TANKAN: LARGE MANUFACTURERS INDEX SLIPS TO +14

Large manufacturing in Japan weakened in the first quarter of 2022, the Bank of Japan's quarterly Tankan Survey of business sentiment showed on Friday with a diffusion index score of +14.

That beat forecasts for a reading of +12 and was down from +18 three months ago.

The outlook came in at +9, missing expectations for +10 and down from +13 in the previous quarter.

Large all industry capex is now seen higher by 2.2 percent, missing forecasts for a gain of 5.0 percent and down from 9.3 percent in the previous three months.

The large non-manufacturers index came in at +9, beating forecasts for +5 and unchanged from the previous month. The outlook was +7, missing forecasts for +8, which would have been unchanged.

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EUROPEAN ECONOMICS PREVIEW: GERMANY FOREIGN TRADE DATA DUE

Foreign trade from Germany and investor confidence survey results from eurozone are due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's foreign trade data for February. Exports are forecast to climb 1.5 percent on month, reversing a 2.8 percent fall in January. Economists expect imports to grow 1.4 percent, in contrast to the 4.2 percent decline a month ago.

At 3.00 am ET, Spain's unemployment data is due.

In the meantime, consumer and producer prices are due from Turkey. Economists expect inflation to surge to 61.6 percent in March from 54.4 percent in February.

At 4.30 am ET, Eurozone Sentix investor confidence survey results are due. The sentiment index is forecast to fall to -9.2 in April from -7.0 in March.

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JAPAN SERVICES PMI IMPROVES TO 49.4 IN MARCH - JIBUN

The services sector in Japan continued to contract in March, albeit at a slower rate, the latest survey from Jibun Bank revealed on Tuesday with a services PMI score of 49.4.

That's up from 44.2 in February, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

While firms were still impacted by high case numbers, others reported that the easing of restrictions had boosted customer numbers. New business inflows returned to expansion territory for the first time in three months during March. The rise was only marginal, as panelists noted that domestic demand strengthened as COVID-19 restrictions were lifted. However, new export orders saw the rate of decline accelerate to the fastest since January 2021 as a result of renewed restrictions across China and uncertainty due to the Russia-Ukraine war.

The survey also said its composite index moved into expansion at 50.3 in March, up from 45.8 in February.

Growth was driven by a renewed rise in manufacturing output while services firms noted a much softer decline. Aggregate new orders also rose modestly for the fifth time in six months, and at the strongest since last December. Service providers noted the first upturn for three months while growth continued at manufacturers.

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CHINA SERVICE SECTOR CONTRACTS SHARPLY AS VIRUS CONTAINMENT STEPS TIGHTEN

China's service sector contracted notably in March as the recent rise in COVID-19 cases and restrictions to limit the spread of the virus led to a marked drop in activity, survey results from S&P Global showed on Wednesday.

The Caixin services Purchasing Managers' Index fell to 42.0 in March from 50.2 in February. This was the steepest fall since the initial onset of the pandemic in February 2020. Total new work decreased at the fastest pace since March 2020.

Pandemic-related restrictions, notably those on mobility, were frequently attributed to lower customer numbers and softer demand conditions.

Staffing levels fell in March but the pace of reduction was only fractional. At the same time, disruption to business operations led to a further increase in the level of outstanding business.

There was a stronger rise in input costs faced by services companies. The rate of inflation was solid overall and quicker than the series average.

Although fees charged by services companies rose slightly, the rate of increase was the softest seen in the current seven-month period of inflation.

When assessing the 12-month outlook for business activity, Chinese services companies were generally upbeat that output would expand over the next year. However, the degree of optimism slipped to its lowest for 19 months.

China's overall private sector activity shrank the most since the initial onset of the pandemic in February 2020.

The composite output index fell to 43.9 in March from 50.1 in the previous month. The reading reflected renewed falls in both manufacturing and services activity, with the latter noting the faster rate of decline.

"At present, China is facing the most severe wave of outbreaks since the beginning of 2020, Wang Zhe, a senior economist at Caixin Insight Group said. Uncertainty also increased abroad.

The outcome of the war between Russia and Ukraine is uncertain, and the commodity market has convulsed, Wang added. Several factors have aggravated the downward pressure on China's economy and underscore the risk of stagflation.

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EUROPEAN ECONOMICS PREVIEW: GERMANY INDUSTRIAL PRODUCTION DATA DUE

Industrial production from Germany and house prices from the UK are due Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis releases Germany's industrial production data for February. Economists forecast output to fall 0.2 percent on a monthly basis, in contrast to the 2.7 percent increase posted in January.

In the meantime, UK Halifax house price data is due for March. House prices had climbed 10.8 percent annually in February.

Also, industrial production data from Norway is due at 2.00 am ET.

At 5.00 am ET, Eurostat releases eurozone retail sales data for February. Sales are expected to grow at a faster pace of 0.6 percent on month after rising 0.2 percent in January.

At 6.00 am ET, consumer price data is due from Ireland.

At 7.30 am ET, the European Central Bank publishes the account of the monetary policy meeting of the Governing Council held on March 9 and 10.

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INDIA CENTRAL BANK KEEPS RATE UNCHANGED

India's central bank left its key interest rate unchanged, as widely expected, and maintained its accommodative stance.

The Monetary Policy Committee of the Reserve Bank of India, led by Governor Shaktikanta Das, unanimously decided to retain the policy repo rate at 4.00 percent. The reverse repo rate was left unchanged at 3.35 percent.

The marginal standing facility rate and the bank rate remained unchanged at 4.25 percent.

The central bank today downgraded its growth outlook for the fiscal year 2022-23 to 7.2 percent from 7.8 percent.

At the same time, the bank raised its inflation forecast for the current fiscal year to 5.7 percent from 4.5 percent.

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EUROPEAN ECONOMICS PREVIEW: UK GDP DATA DUE

Monthly GDP data from the UK is due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade data for February. The UK economy is forecast grow 0.3 percent month-on-month, after rising 0.8 percent in January.

The UK visible trade deficit is seen narrowing to GBP 20 billion in February from GBP 26.5 billion in January.

In the meantime, Statistics Norway issues consumer and producer prices for March. Inflation is expected to rise to 5.0 percent from 3.7 percent in February.

At 3.00 am ET, consumer price data is due from the Czech Republic. Economists forecast inflation to advance to 12.4 percent in March from 11.1 percent in February. Also, unemployment and current account figures are due from Turkey.

At 8.00 am ET, the UK NIESR monthly GDP tracker is due for March.

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UK UNEMPLOYMENT DECLINES; JOB VACANCIES AT RECORD HIGH

The UK unemployment declined in three months to February and job vacancies rose to a new record high, the Office for National Statistics said Tuesday.

The jobless rate fell 0.2 percent points from the previous quarter to 3.8 percent in three months to February. The rate came in line with expectations.

At the same time, the employment rate was largely unchanged at 75.5 percent, but remained below the pre-pandemic level.

The number of job vacancies rose to a new record 1,288,000 in January to March period. However, the rate of growth in vacancies continued to slow down.

In March, payrolled employment showed a small monthly growth of 35,000 to a record 29.6 million, data showed.

Average earnings including bonuses, grew 5.4 percent annually in three months to February. Excluding bonus, average earnings was up 4.0 percent. Both rates matched economists' expectations.

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FRANCE TRADE GAP WIDENS IN FEBRUARY

France's trade deficit increased in February on falling exports, data from the customs office showed on Tuesday.

Another official data showed that the current account deficit narrowed in February.

The trade deficit widened to EUR 10.3 billion from EUR 7.96 billion in January. In the same period last year, the shortfall was EUR 5.35 billion.

Exports dropped 3.9 percent on month, while imports grew 0.8 percent.

On a yearly basis, exports and imports were up 18.1 percent and 27.9 percent, respectively.

The current account deficit narrowed to EUR 1.1 billion in February from EUR 1.3 billion in January, the Bank of France reported.

The deficit on trade in goods increased slightly to EUR 6.8 billion, while the surplus on trade in services rose marginally to EUR 4.9 billion.

The financial account showed net capital inflows of EUR 18.6 billion in February.

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