China’s Exports Jump Most in a Year, Boosting Growth Outlook — China’s exports jumped the most in a year and declines in imports narrowed, adding to evidence of stabilization in the world’s second-biggest economy. Stocks rallied. Overseas shipments rose 11.5 percent in dollar terms in March from a year earlier, compared with a 25 percent slump in February, when factories and offices were closed for a week-long holiday. Imports extended declines to 17 months with a 7.6 percent drop, data showed Wednesday. The trade surplus decreased to $29.9 billion, the least in a year. (Bloomberg, 13/4/16)
Chinese central bank pumps more money into financial system – The central bank pumped 162.5 billion yuan (about 25 billion U.S. dollars) into the financial system on Monday in open market operations via medium-term lending facility (MLF). (Xinhua, 18/04/16)
Philly Fed index’s drop may be temporary: analyst — The steeper-than-expected drop in the Philadelphia Federal Reserve’s gauge on current U.S. Mid-Atlantic business activity in April may be temporary due to a sharp pickup in its six-month outlook index, a regional central bank analyst said on Thursday. The Philadelphia Fed’s business conditions index fell to -1.6 in April from 12.4 in March. Analysts polled by Reuters had expected a reading of 8.9. (Reuters, 21/4/16)
Jobless Claims in U.S. Decline to Match Lowest Since 1973 — Jobless claims dropped by 13,000 to 253,000 in the week ended April 9, equaling the level in March that was the lowest since November 1973, a report from the Labor Department showed Thursday. The median forecast in a Bloomberg survey called for 270,000. Continuing claims also declined, to the lowest since midOctober. (Bloomberg, 14/4/16)
Mario Draghi’s ECB News Conference—Live — The European Central Bank left all its interest rates unchanged, as expected. At his news conference, President Mario Draghi said rates would remain at “present or lower levels” for an extended period of time and said the ECB would boost easing further “if warranted.” (WSJ, 21/4/16)
NESDB forecasts GDP growth of 3.3% this year — THE OFFICE of the National Economic and Social Development Board (NESDB) anticipates gross domestic product to grow by 3.3 per cent this year, up from 2.8 per cent in 2015. (The Nation, 15/4/16)
First-quarter ad spending drops 9% year on year – ADVERTISING spending from January to March dropped by almost 9 per cent to Bt26.73 billion from Bt29.24 billion in the same period last year, reflecting poor market sentiment in the first quarter, Nielsen Thailand reported. The mediaresearch company suggested that the figures showed there was not only no sign of a recovery, but matters were getting worse. The country’s largest advertising investor, with more than 6 per cent of the total, was Unilever (Thai) Holdings, but it cut its spending in the first quarter by 38.37 per cent to Bt1.158 billion from Bt1.879 billion in the same period last year, which meant that at least Bt720 billion was pulled out. Magna Global, a media agency under IPG Mediabrands, thinks this trend might continue throughout the first half. (The Nation, 13/4/16)
Cabinet backs income tax re-jig – THE Cabinet yesterday approved a new structure for personal income tax, the Baan Pracha Rath affordable-housing scheme, plus draft laws related to the digital economy. (The Nation, 20/04/16)
The cabinet approved the MRT Orange Line, valued at Bt82.9bn. Bidding is expected to be completed by June. (Thun Hoon, 20/04/16)
Rice cultivation zones to be reduced next week — THE government will next week reduce rice-growing zones from 61.74 million rai of paddy to only 55.8 million rai (8.93 million hectares) to balance supply and demand for the staple in the next harvest season. (The Nation, 22/4/16)
