- Japan’s August jobless rate dropped 0.1 percent to 4.3 percent from July, a decrease of 0.5 percent compared to the same month in 2004.
- An upgrade in consumer price forecasts by the Bank of Japan indicates the Bank’s mostly hands-off policy toward interest rates may end in 2006. The Japanese economy is getting better and oil prices continue to stay at elevated levels, helping Japan out of seven years of deflation. Although Japan’s trade surplus for September declined from the previous year for the sixth-straight year, the 21.1-percent fall (to 957 billion yen; $8.31 billion) was much less than predicted.
- The preliminary unemployment rate for Hong Kong in September dropped 0.2 percent to 5.5 percent compared to the preceding month, a four-year low and a drop of 1.3 percent from September 2004.
- Australia’s September jobless rate rose 0.1 percent from the previous month to 5 percent, a decrease of 0.4 percent from the same month a year ago.
- India’s GDP for Q2 rose 12.8 percent compared to the previous quarter.
- The second-quarter unemployment rate for Singapore increased 0.1 percent to 3.4 percent, but dropped 0.2 percent compared to Q2 of 2004.
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