Official data released on Thursday indicated that Japan’s All Industries Activity Index had recorded a fall, which was more than anticipated. According to the report presented by the Japanese Ministry of Economy, Trade and Industry, the All Industries Activity Index in Japan slipped to -1.4%, from 1.6% seen in the preceding month, where the reading was revised lower from 1.8%. However, analysts had anticipated Japan’s All Industries Activity Index to descend 1% in the previous month. In related news, the trade balance in Japan was also observed to have dropped, and the official details released the previous day, stated that this descend was beyond expected readings. In the report presented by the Ministry of Finance, it was elaborated that the country’s trade balance had recorded a fall to -1.09T, from a value of -0.74T in the past month whose reading was revised lower from -0.68T.
Official data related to the U.S. gasoline inventories showed a fall in the previous quarter, which was lower than speculated. According to the report presented by US Energy Information Administration, U.S. gasoline inventories had dropped to an annual rate of -1.476M, from a value of -3.571M recorded in the last quarter. There was a general expectation among analysts indicating the U.S. Gasoline Inventories to slide -2.125M in the previous quarter. Focusing on the official reports related to U.S. crude oil inventories, an unexpected fall was recorded ilast month. The U.S. crude oil inventories had slid to a value of -1.314M, from a reading of 2.624M in the earlier month, as per reports announced by Energy Information Administration. Analysts had projected U.S. Crude Oil Inventories to increase 2.017M preceding month.
Reports announced that New Zealand’s gross domestic product in the previous quarter had recorded an increase, which was higher than expected. The data announced by Statistics New Zealand held that New Zealand’s GDP increased to 1.5%, from a value of 0.2% registered in the earlier quarter. Analysts had estimated New Zealand’s GDP to go up 0.9% in the previous quarter.
The Euro Zone’s current account surplus tapered lower than anticipated in January, as per official data. Economists had speculated that the region’s current account surplus to constrict to EUR7.9 billion in the month of January.