Global Economic Update

10:33, 20 February

Global Economic Update

  • In the Eurozone, the seasonally adjusted construction output advanced 0.10% on a MoM basis in December, compared to a rise of 0.20% in the previous month. The non-seasonally adjusted current account surplus surged to EUR 45.80 billion in December, compared to a revised current account surplus of EUR 40.10 billion in the last month. The seasonally adjusted current account surplus fell to EUR 29.90 billion in December, compared to a revised current account surplus of EUR 35.00 billion in the prior month.
  • In Italy, the current account surplus widened to EUR 5.87 billion in December, compared to a revised current account surplus of EUR 4.75 billion in November.
  • Minutes of the Reserve Bank of Australia’s (RBA) February meeting indicated that the officials remained optimistic about the nation’s economic outlook, on the back of robust recovery in global economy. In addition, the central bank hinted at an unchanged course for raising interest rates and stressed that in spite of the robust labor market, wage growth “was yet to pick up”. Moreover, officials are expecting the inflation to increase gradually as the economy strengthens, while emphasizing that household debt remained “elevated”.