TFF: First batch heads for cabinet. The first batch of Thailand Future Fund (TFF) units, worth 40 billion baht, will go before the cabinet for approval this month, with the initial public offering of the government’s infrastructure fund expected to take place early next year. (Bangkok Post, Bangkok Biz, 6/12/16)
Poor to get B19bn cash handouts. The Finance Ministry expects to complete the payment of 19 billion baht in cash handouts to low-income earners who registered for the government’s welfare scheme through the national e-payment system by the end of this month. (Bangkok Post, 09/12/16)
Consumer confidence dips for second month in a row. THE Consumer Confidence Index (CCI) in November fell for the second consecutive month, signalling the country’s economic slowdown, said the University of the Thai Chamber of Commerce’s Centre for Economic and Business Forecasting. (The Nation, 09/12/16)
Fed’s Dudley expects gradual tightening, notes hikes may be quicker. The president of the Federal Reserve (Fed) Bank of New York William Dudley said Monday that the U.S. economy was expected to grow at a pace above its sustainable long-term rate which in turn would support a gradual tightening of monetary policy and that the pace may be quicker than originally anticipated. (Investing, IQ Biz, 6/12/16)
ECB surprises markets by scaling back QE programme. The single currency bloc’s central bank left interest rates unchanged and said it would continue its programme of quantitative easing (QE) to next December or beyond “if necessary”, marking an extension to its previous guidance that the scheme would run until the end of March. (The Guardian, 08/12/16)
US jobless claims decline from five-month high, matching estimates. The number of Americans filing for unemployment benefits fell from a five-month high last week, pointing to labor strength that underscores the economy’s sustained momentum. Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 258,000 for the week ended Dec. 3, the Labor Department said on Thursday. (CNBC, 08/12/16)
Japan third-quarter GDP revised down as capex, inventories shrink. The Cabinet Office said the economy grew at a 1.3 percent annualized rate in July-September, a severe revision from the 2.2 percent annualized growth first estimated and barely over half the median estimate for a 2.4 percent annualized expansion. (Reuters, IQ Biz, 8/12/16)
UK services PMI hits 10-month high, points to solid fourth quarter growth. The Markit/CIPS services purchasing managers’ index (PMI) – a closely watched gauge of the services sector – rose to 55.2 in November from 54.5 in October, beating all the forecasts in a Reuters poll of economists. (Reuters, IQ Biz, 5/12/16)
US Final Service Sector PMI Revised Marginally Lower To 54.6. The Final November reading of the Markit US services-sector PMI declined fractionally to 54.6 from the flash reading of 54.7. The data was also marginally below both the October reading and the consensus forecast of 54.8. (Economic Calendar, IQ Biz, 6/12/16)
With 178,000 Jobs Added In November, The U.S. Unemployment Rate Drops To 4.6%. Employers in the U.S. added 178,000 non-farm jobs in November, the Bureau of Labor Statistics reported on Friday. The unemployment rate dropped to 4.6% from 4.9%. This marks the 74th consecutive month of job growth. (Forbes, IQ Biz, 3/12/16)
