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South Africa's private sector credit growth accelerated in October, after slowing in the previous month, data from the South African central bank showed Friday.

Claims on the domestic private sector rose 9.06 percent annually following 8.74 percent growth in September and 8.78 percent in August. Economists had expected 9 percent increase.

Total loans and advances grew 8.72 percent after 8.79 percent increase in the previous month.

M3 money supply rose 8.02 percent annually in October following 7.86 percent growth in September. Economists had forecast 8.08 percent increase.

by RTT Staff Writer

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Singapore's producer prices continued to decline at a faster pace in October, figures from the Department of Statistics showed Friday.

The manufactured product prices were dropped 5.9 percent year-on-year in October, faster than September's 5.2 percent decline. The Oil and Non-oil indices fell 13.6 per cent and 3.8 percent respectively.

Domestic supply prices fell 7.1 percent year-over-year in October following a 4.5 drop seen last month.

On a monthly basis, producer prices fell 0.8 percent in October, the same rate of drop as in the previous month. Oil prices receded 8.3 per cent, extending the 1.8 per cent decline in September, as prices of crude petroleum and diesel fuel and fuel oil fell.

A separate report showed that the import price index for October declined 5.1 percent annually versus a 3.5 percent drop in September. Import prices of oil plunged 15.5 percent, while non-oil import prices were stagnant.

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Private sector credit in Australia rose in October, data from the Reserve Bank of Australia showed Friday.

Private sector credit rose 0.6 percent month-over-month in October, faster than September's 0.5 percent increase. Economist had forecast credit to have remained unchanged during the month.

The pace of increase in housing credit was unchanged at 0.6 percent in October and business credit rose at a faster rate of 0.7 percent. At the same time, personal credit was flat during the month.

On a yearly basis, private sector credit climbed 5.7 percent in October compared to a 3.4 percent increase in the same period last year. Housing credit jumped 7.0 percent year-on-year, business sector advanced 4.3 percent and personal credit was up 1.0 percent.

Meanwhile, broad money was up 0.6 percent month-over-month, with M3 rising 0.4 percent. Annually, broad money climbed 7.7 percent, with the M3 component up 7.9 percent.

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New Zealand's money supply growth accelerated for the second straight month in October, figures from the Reserve Bank of New Zealand showed Friday.

M3 money supply rose 5.5 percent year-on-year to NZ$ 278.85 billion in October. This follows a 5.3 percent rise in September. The growth was the highest since February, when it climbed 6.8 percent.

On a monthly basis, money supply growth eased to 0.4 percent in October from 0.6 percent in the previous month.

by RTT Staff Writer

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Consumer confidence in the U.K. stagnated at depressed levels in November, the results of a survey by the GfK Institute showed Friday. The consumer confidence index remained unchanged at -2 in November, in contrast to expectations for a modest improvement to -1.

The index measuring personal financial situation over the next 12 months fell 2 points to 2, while the index measuring changes in personal financial situation during the last 12 months stayed at -7.

Commenting on the results of the survey Nick Moon, Managing Direction of Social Research at GfK, said he expects the flat period will continue for some time longer, probably until the election, as it has happened in the period between July 2011 and October 2012.

by RTT Staff Writer

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The results of a business confidence survey by the ANZ Bank showed that business confidence improved in November. The business confidence index rose to 31.5 in November from 26.5 in October. The outlook index for activity improved 3.9 points to 41.7 and the investment index also rose roughly 3 points to 19.2.

Meanwhile, the export index eased about 4 points to 21. Capacity utilization eased to 22.6 from 30.2. Commenting on the results of the survey, ANZ noted that the economy is in an enviable sweet spot, with demand indicators remaining strong and inflation nuances remaining benign.

by RTT Staff Writer

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Economic News

The Ministry of Economy, Trade and Industry of Japan reported Friday that retail sales growth in Japan slowed in line with expectations in October. Retail sales rose 1.4 percent year-over-year in October following a 2.3 percent growth in September. The slowdown was in line with expectations.

Sales by large retailers were unchanged in the month compared to 0.5 percent growth in the previous month. Wholesales sales eased 0.1 percent. Commercial sales, which encompass wholesale and retail sales, were up 0.3 percent.

by RTT Staff Writer

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Economic News

Preliminary estimates released by Japan's Ministry of Economy, Trade and Industry on Friday showed that industrial production in Japan unexpectedly rose in October. Industrial production rose a seasonally adjusted 0.2 percent month-over-month, belying expectations for a 0.6 percent drop. However, this represented a marked slowdown from the 2.9 percent growth in September.

Annually, production was down 1 percent, not as worse as the 1.7 percent drop expected by economists. Shipments were up 0.4 percent month-over-month but declined 0.6 percent annually.

The Ministry's forecast based on a survey of manufacturers pitches industrial production growth at 2.3 percent in November and at 0.4 percent in December.

by RTT Staff Writer

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The jobless rate in Japan unexpectedly eased in October, according to the results of the labor force survey carried out by Japan's Ministry of Internal Affairs and Communication. The jobless rate eased to 3.5 percent in October from 3.6 percent in September, while the consensus estimate had called for an unchanged rate.

The easing came about as the number of unemployed persons fell 11.4 percent and the number of employed individuals rose modestly. At the same time, the participation rate eased 0.1 percentage points to 59.7.

by RTT Staff Writer

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Economic News

Household spending in Japan adjusted for inflation fell a less than expected 4 percent year-over-year in October, according to a report released by the Ministry of Internal Affairs and Communication. Economists had expected a steeper 5 percent drop for the month. Average monthly expenditure of two-or-more-persons households was down 0.7 percent in nominal terms.

Meanwhile, average monthly income for worker households was down 2.1 percent in real terms compared to a 3.4 percent decline in average consumption expenditure.

by RTT Staff Writer

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Economic News

A report released by Japan's Ministry of Internal Affairs and Communication on Friday showed that annual core inflation in Japan slowed in line with expectations. Core annual inflation eased to 2.9 percent in October from 3 percent in September. The easing was in line with expectations. The headline index also rose 2.9 percent year-over-year.

Monthly comparison's showed that the consumer price index eased 0.3 percent but the core consumer price index that excludes fresh food edged up 0.1 percent.

Meanwhile, annual consumer prices in the Ku area of Tokyo considered a leading indicator of the trend in Japan climbed 2.1 percent year-over-year in November. The core rate was 2.4 percent, also in line with expectations.

by RTT Staff Writer

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Building permits in New Zealand rose 8.8 percent month-over-month in October following a 12 percent drop in September, according to a report published by Statistics New Zealand. The pace of increase was the fastest since November 2013. Building consents stood at a seasonally adjusted 2,152 new homes in October, valued at over NZ$1.2 billion.

Of the 2152 approved for construction, 179 were for apartments, including 39 retirement village units and 1,973 were for non-apartment dwellings. The regions that consented the most consented new dwellings included Canterbury, Auckland and Waikato.

by RTT Staff Writer

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Economic News

South Africa's producer price inflation slowed less-than-expected in October, figures from Statistics South Africa revealed Thursday.

The producer price index rose 6.7 percent annually after climbing 6.9 percent in September. Economists had forecast an inflation figure of 6.6 percent.

Producer price inflation slowed for the sixth month in a row.

Month-on-month, producer prices increased 0.3 percent in October. Economists were looking for a 0.2 percent gain.

by RTT Staff Writer

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Eurozone economic sentiment unexpectedly strengthened for a second consecutive month in November as an improvement in the factory confidence offset a deterioration in consumer morale, figures from the European Commission showed Thursday.

The economic sentiment indicator rose to 100.8 from 100.7 in October. Economists had expected the index to ease to 100.3.

The consumer confidence index, meanwhile, weakened to -11.6 from -11.1 in October. That was in line with the flash estimate released on November 20.

The industrial confidence index climbed to -4.3 from -5.1 in October. Economists had expected the index to weaken to -5.5.

"The weakening of the euro exchange rate is clearly giving some breathing space to European exporters, leading to more optimism, while the lower energy costs also help," ING Bank economist Peter Vanden Houte said.

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Germany's EU measure of inflation slowed to its lowest level in five years in November, preliminary data from the Federal Statistical Office showed Thursday.

The harmonized index of consumer prices rose 0.6 percent year-on-year following 0.7 percent increase in October. The figure was in line with economists' expectations.

The latest HICP annual inflation figure was the lowest since November 2009, when it was 0.3 percent.

The consumer price index climbed 0.6 percent annually during November after rising 0.8 percent in October. That was also in line with economists' predictions.

It was the lowest rate since February 2010, when the figure was 0.5 percent.

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German unemployment reached the lowest in more than two decades in November, boosting confidence among businesses and households.

The seasonally adjusted jobless rate for November was 6.6 percent, unchanged from October's figure that was downwardly revised, data from the Federal Labor Agency showed Thursday. Economists had expected the rate to remain unchanged at October's initially reported 6.7 percent.

The number of unemployed declined by 14,000 persons to 2.87 million, much larger than the 1,000 fall forecast by economists.

Elsewhere, the monthly survey by the GfK showed that German consumer confidence is set to strengthen further in December, as income expectations and willingness to buy improved for a second straight month from higher levels.

The forward-looking consumer confidence index rose to 8.7 points from 8.5 points in November, the GfK said. Economists had forecast a score of 8.6.

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German consumer confidence is set to strengthen further in December, as income expectations and willingness to buy improved for a second straight month from higher levels, survey results from the market research group GfK showed Thursday.

The forward-looking consumer confidence index rose to 8.7 points from 8.5 points in November, the GfK said. Economists had forecast a score of 8.6.

"There is greater uncertainty among German consumers as a result of the persistently tense geopolitical situation coupled with the economic slowdown in the eurozone. This is reflected in the deteriorating economic outlook," the GfK said.

"However, consumers' income outlook and spending propensity have not yet been affected by these developments."

The spread of Ebola to Europe would represent a considerable risk for positive economic development in Germany in future, the agency said.

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Eurozone money supply supply growth remained steady in October, while lending to the private sector continued to fall, despite the stimulus efforts from the European Central Bank.

The annual growth of broad money, or M3, was 2.5 percent in October, unchanged from September, the ECB said on Thursday. Economists had expected growth rate to rise to 2.6 percent.

The three-month average of M3 annual growth climbed to 2.3 percent in the August to October period from 2.1 percent in the three months to September. Economists predicted a slightly higher rate of 2.4 percent.

Annual growth of M1 money supply was also unchanged at 6.2 percent.

Loans to the private sector fell 1.1 percent annually in October, which was slightly less severe than the 1.2 percent drop in September.

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Switzerland's industrial production decreased in the three months to September, marking the first fall in five quarters, data from the Federal Statistical Office showed Thursday.

Industrial production dropped 0.4 percent year-on-year following 3.1 percent gain in the second quarter. It was the first decline since the second quarter last year, when output decreased 1.1 percent.

Turnover fell 1 percent annually, while orders increased 0.7 percent. Orders on hand grew 1.9 percent, the agency said.

by RTT Staff Writer

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Denmark's jobless rate held steady for a second straight month in October, figures from Statistics Denmark showed Thursday.

The seasonally adjusted jobless rate was 5 percent, unchanged from August as well as September.

The number of unemployed eased to 133,000 from 133,100 in the previous month.

The youth jobless rate, which applies to the 16-24 age group, also remained steady at 3.3 percent for a second successive month.

The statistical office also reported that the Danish industrial confidence index improved in November to -15 from -16 in October. In September, the score was -9.

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