- Preliminary data indicates Hong Kong’s jobless rate increased 0.1 percent from March to May, reaching 5 percent. The rate grew 1 percent when compared to the same period the previous year. “Despite the entry of some fresh graduates and [those who left school], the labor force showed a small reduction in overall terms in April-June 2006,” said a Hong Kong government spokesperson.
- Australia’s June unemployment rate remained stable at 4.9 percent, a 0.1-percent drop from June 2005.
- India’s second quarter economy grew 13.4 percent when compared to the same quarter in 2005.
- The Central Bank of Turkey boosted its overnight borrowing rate 0.25 percent to 17.5 percent in July. The rate move comes on the heels of an enormous 3-percent increase in June. Prior to that, the bank had not raised rates in three years.
- The Bank of Israel’s short-term lending rate increased 0.25 percent in July to 5.5 percent. This marks the seventh increase since the rate was lowered to 3.5 percent in January 2005.
- Japan’s June unemployment rate fell to 4 percent, a decrease of 0.1 percent from the previous month and 0.4 percent from June 2005.
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