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NZ WELLINGTON: New Zealand's annual consumer inflation is expected to have slowed to the lowest level in more than 12 years in the June quarter, leaving the central bank scope to remain on the sidelines before changing its record low interest rates. A Reuters poll of 16 economists put the consumer price index at 0.5 percent in June, similar to the March quarter, pulling the annual rate down to 1.1 percent, the lowest since the December 1999 quarter. That would sit comfortably at the lower end of the 1-3 percent target band of the Reserve Bank of New Zealand (RBNZ), which has also forecast the same numbers. "(This) leaves little pressure on the RBNZ to alter its policy stance in the near term," said Goldman Sachs economist Philip Borkin. The RBNZ has held its official cash rate at a record low 2.5 percent for more than a year because of restrained domestic demand, tame inflation, ...

US retail sales fall for 3rd straight month in June  WASHINGTON: US retail sales fell in June for the third straight month, the longest run of consecutive drops since 2008 when the country was mired in recession. Sales slipped 0.5 percent, with declines across a wide swath of industries from electronics and cars to building supplies, the Commerce Department said on Monday. Analysts had expected a small increase. "Evidence is increasingly clear that the US economy is slowing," said Jim Baird, an investment strategist at Plante Moran ...
German Jan-May gas import costs up 17.4pc  FRANKFURT: Germany's gas import bill rose 17.4 percent to 14.2 billion euros ($17.4 billion) in the January to May period, data released by economic and foreign trade statistics office BAFA showed on Monday. The amount of gas imported fell 4.8 percent in the first five months year-on-year to 1,680,758 terajoules (TJ). The average price paid at the border was 8,421.19 euros per TJ, up 22.7 percent. Many continental European gas prices, including those recorded by BAFA, still ...
Iraq in deals to boost energy exploration  BAGHDAD: Iraq signed an initial deal with a Kuwait-led consortium Monday and a contract was awarded to a Russia-led group to drill for energy, part of Baghdad's efforts to strengthen its role as a major producer. The two deals are among four that are in the process of being finalised with international firms to boost already-plentiful oil reserves and increase production of much-needed gas to help fill the country's power shortfall. "The representatives of the consortium of ...
South Korea regrets North Korea SEOUL: South Korea expressed regret Monday at North Korea's silence over requests to start repayments for past food aid worth $720 million. The South's unification ministry, in charge of cross-border affairs, said the North had not responded to Seoul's earlier request to pay up. "This constitutes a violation of a pact between South and North Korea. Our government expresses deep regret," spokesman Kim Hyung-Suk told reporters. Under the previous left-leaning government, the South provided the North with some ...
India faces challenges in sustaining grains output: farm minister NEW DELHI: India is facing challenges in sustaining grains output due to poor monsoon rains, Farm Minister Sharad Pawar said on Monday. India's crucial monsoon rains have been below average since the start of the season in June though they were one percent above average in the past week due to an improvement in central India. Copyright Reuters, 2012 ...
India MUMBAI: India's core wholesale price index rose an estimated 4.85 percent in June from a year earlier, according to five analysts surveyed by Reuters on Monday, leaving it unchanged from the levels in May. Traders had previously said core WPI growth of 4.5 percent or below could raise expectations for a cut in interest rates at the Reserve Bank of India policy review on July 31. Earlier, India said headline wholesale price index (WPI) rose a lower-than-expected ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln