Inflation Levels Fall in Singapore, Malaysian Unemployment Rate Falls
The inflation rate in Singapore fell by 0.7% on an annual basis in June after a 1.6% drop in May and estimated forecasts of a contraction of 1.1%.
July 26 2016, Published 6:58 a.m. ET
Consumer prices continue to fall in Singapore
The inflation rate in Singapore fell by 0.7% on an annual basis in June after a 1.6% drop in May and estimated forecasts of a contraction of 1.1%. While prices of food products increased at a sluggish pace, prices of utilities, transport, and housing contracted sharply. This caused a fall in consumer prices for the 20th consecutive month in the South Asian economy. On a monthly basis, consumer prices increased by 0.7% in June—compared to a contraction of 0.7% last month. Singapore’s core inflation rose by 1.1% in June—compared to a 1.0% rise in May. The iShares MSCI Singapore (EWS) was trading lower by 1.2% on July 25 at 12:30 PM EST.
Unemployment rate drops in Malaysia
The unemployment rate in Malaysia fell to 3.4% in May—compared to a jobless rate of 3.5% in the previous month. The number of unemployed people in the South Asian economy was 504,800 in May—compared to 511,500 in April. The labor force participation rate remained steady in May at 67.7%. The iShares MSCI Malaysia (EWM) was trading lower by 0.49% on July 25 at 12:30 PM EST. On a broad-based level, the iShares MSCI All Country Asia ex Japan (AAXJ) and the iShares Asia 50 (AIA) fell by 0.79% and 0.96%.
Business confidence rises in Turkey
Business confidence in Turkey rose in July to 108 from 106.8 in the previous month. An increase was also seen in the general business situation. It rose in July to 94.6 from 93.8 in June. The current amount of orders increased from 91.0 to 93.2.
The capacity utilization in Turkey fell to 75.7% in July from 76.1% in June. The iShares MSCI Turkey (TUR) was trading higher by 3.1% on July 25 at 12:30 PM EST.