February Macro Economy Review

[2017- 2 - 2, Thursday] Macau's total gaming revenue in 2016 ended 3.3% less than that in 2015, data released by the government showed

[2017 - 2 - 5, Monday] Hong Kong's total retail sales in 2016 decreased 8.1% by value from 2015, led by electronic products sales fall

[Feb 10, 2017] China's January exports increased 7.9% from a year earlier, while imports rose by 16.7%, trade surplus of USD51.35 billion for the month in USD term, the General Administration of Customs preliminary data showed on Friday

[Feb 13, 2017] Japan's economy expanded 0.2% quarter on quarter in the fourth quarter of last year; the GDP grew 1% from the same quarter in 2015, government data showed today. Japan attained its second-biggest current account surplus on record in 2016, Ministry of Finance data showed. The 20.6 trillion yen ($183.63 billion) surplus reflected the trade balance swinging into surplus on cheaper oil, rising foreign tourists arrivals creating a record travel surplus

[Feb 14, 2017 ] China's January headline inflation rose to a three-year high of 2.5% year-on-year, as compared with December’s 2.1%. Lunar New Year holiday falls in January this year

[Feb 7, Tuesday] Australia central bank held benchmark interest rate unchanged at 1.5%

[Feb - 9, Thursday] New Zealand central bank has held benchmark interest rate unchanged at record low of 1.75%

[Feb - 28, Tuesday] Hong Kong government Rating and Valuation department said housing index rose 0.6% m-o-m in January, reaching a new record high in its history

NAB expects the Australia GPD to grow 1% q/q , reversing the negative growth in the third quarter." We expect some base-effect downgrading of the Bank’s near-term GDP forecasts, but would not be surprised to see the Bank describe the medium-term outlook a little more favourably due to the higher terms of trade and somewhat improved global outlook." NAB said, adding it continues to hold a slightly less optimistic view for economic growth for 2018 on account of slower housing construction, a waning contribution to growth from the lower $A and less strength from resource export growth.