- Australia’s third quarter economy grew by 0.3 percent compared to Q2 but increased by 3.0 percent compared to the same quarter in 2003. Unemployment in November dropped 0.1 percent to 5.2 percent compared to the previous month and fell 0.5 percent compared to November 2003.
- Hong Kong’s preliminary GDP in the third quarter increased 1.9 percent from the previous quarter and 4.4 percent compared to Q3 2003. The November unemployment figure came in at 6.7 percent, unchanged from October 2004. “The upturn of the Hong Kong economy extended well into the thirdquarter of 2004,” said K.C. Kwok, the government economist, in a press release. “The Hong Kong economy should be on track for the 7.5-percent growth forecasted in August.”
- Japan’s October jobless rate grew 0.1 percent compared to the previous month, but fell 0.4 percent compared to the same month in 2003.
- Toshiro Muto, deputy governor of the Bank of Japan (BOJ), said in late December he was unsure if the country would be able to escape deflation in 2005. Although the fiscal year does not begin until April, Muto told a Japanese newspaper it was not clear whether deflation would be eliminated in 2005-06, or if the country would have to wait until 2006-07. The BOJ will continue its fiscal policy of "quantitative easing" until it determines the economy is ready for a shift — most likely, when it sees year-to-year increases in the Consumer Price Index.
Subscribe to:
Post Comments (Atom)
Post a Comment