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Japan Q1 GDP

Last Week’s Highlights

Australia’s unemployment rate rises to 6.2%

The latest labor market statistics from Australia saw the national unemployment rate rising to 6.2% in April. This was higher than the unemployment rate for March, which was 5.2%.

However, the data was not as bad as forecasts of an increase to 8.3% for the period.

That said, the Australian economy lost 594,300 jobs during the month, which was comparatively higher than the forecasts of 575,000 jobs lost. The full-time employment fell by 220,000 and there were declines even in the part-time employment sector.

China’s industrial production rebounds in April

Industrial production in China saw a rebound in April, rising 3.9% on a year over year basis. The rebound in April saw declines of 1.1% on the year in March. The data also beat estimates as economists were betting that industrial production would rise just 1.5% on the year.

On the downside, China’s retail sales fell 7.5% on the year. This was slower than the 15.8% incre...

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