- According to preliminary data, Japan’s third-quarter economy grew 0.5 percent from the previous quarter and 2.7 percent from the same quarter a year ago.
- The Reserve Bank of Australia continued its tightening cycle, raising the country’s benchmark cash rate 0.25 percent to 6.25 percent in November. The rate hike was the third since May.
- Hong Kong’s preliminary figures for Q3 show a 6.8 percent increase in the economy from the previous quarter and a 5.5-percent gain compared to Q3 2005. The growth marked the 12th consecutive quarter of above-trend growth. Helen Chan, the acting Hong Kong government economist, says 2006’s GDP growth has been revised upwards to 6.5 percent from a range of 4-5 percent. The Hong Kong Q3 unemployment rate fell 0.2 percent from the second quarter to 4.5 percent, a drop of 0.8 percent from the same quarter a year ago.
- Australia’s Q3 jobless rate decreased 0.2 percent from the previous quarter to 4.6 percent, a drop of 0.6 percent on the same quarter a year ago.
- The Bank of Indonesia lowered the BI interest rate 50 basis points to 10.25 percent in November, the fifth straight month of cuts. The rate is down 2.5 percent from its January 2006 level of 12.75 percent, but remains significantly up from its December 2004 rate of 7.4 percent.
- Singapore’s Q3 GDP rose 0.8 percent compared to the same quarter a year earlier.
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