China’s automobile exports increased 33.2% in the first quarter of 2024 compared to the same period last year. China kept its benchmark lending rates unchanged on Monday. The country's smartphone shipments grew 6.5% in the first quarter compared to the same period from last year, according to research firm IDC. China’s fiscal revenue fell 2.3% in the first quarter from a year earlier, the finance ministry said on Monday.
Australian employment fell in March, according to official data. The country’s net employment dropped 6,600 in March from the previous month, data from the Australian Bureau of Statistics showed. Building permits for residential flats in Germany fell 18.3% in February from a year earlier, according to official data. Sales of new homes in the U.S. rebounded to a six-month high in March. The South Korean economy grew 3.4% in the first quarter of the year from a year earlier, official data showed. Nearly 282 million people in 59 countries and territories suffered from high levels of acute hunger in 2023, an increase of 24 million from the previous year, according to a UN report on Wednesday.
China’s auto exports rise 33.2% in Q1
China’s automobile exports increased 33.2% in the first quarter of 2024 compared to the same period last year.
China exported more than 1.32 million vehicles in the first three months according to the China Association of Automobile Manufacturers.
In the period, the country exported 307,000 new energy vehicles (NEVs), up 23.8% year on year.
In March alone, China’s auto exports rose 37.9% from last year whereas the exports of NEVs jumped 59.4%.
China keeps benchmark lending rates steady
China kept its benchmark lending rates unchanged on Monday.
The country’s one-year loan prime rate (LPR) was kept at 3.45%.
he over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.95%.
China’s smartphone market grows 6.5% in Q1
China’s smartphone shipments grew 6.5% in the first quarter compared to the same period from last year, according to research firm IDC.
It’s the second consecutive quarterly growth.
The growth was mainly driven by strong growth from Honor and Huawei, which tied for top spot, the IDC said.
Apple declined 6.6% over the same period as it faced more intense competition.
China’s fiscal revenue falls 2.3% in Q1
China’s fiscal revenue fell 2.3% in the first quarter from a year earlier, the finance ministry said on Monday.
The country’s tax revenue fell 4.9% to 4.9 trillion yuan in the first three months.
Fiscal expenditures grew 2.9% year on year to nearly 7 trillion yuan in the first three months, according to Wang Dongwei, vice finance minister.
Excluding special factors such as a high base and tax cut policies in 2023, China’s fiscal revenue grew 2.2% in the first quarter.
China’s water conservancy investment up 4.4% in Q1
China's investment in water conservancy facilities rose 4.4% year on year to 193.3 billion yuan in the first quarter of this year, official data showed on Monday.
China began 9,683 new water conservancy projects in the first quarter, up 33.8% year on year, said Chen Min Vice Minister of Water Resources.
In the first quarter, water conservancy projects created about 730,000 jobs nationwide, up 3.8%sh year on year, according to the ministry.
Australia’s March employment falls
Australian employment fell in March, according to official data.
The country’s net employment dropped 6,600 in March from the previous month, data from the Australian Bureau of Statistics showed.
The jobless rate rose slightly to 3.8% from 3.7% in February.
Full-time employment rose 27,900 in March.
Germany’s building permits fall 18% in February
Building permits for residential flats in Germany fell 18.3% in February from a year earlier, according to official data.
In February, the country issued 18,200 permits, 4,100 fewer than a year earlier, the data showed.
The real estate sector account for roughly a fifth of output and one in 10 jobs.
US new home sales rebound to six-month high
Sales of new homes in the U.S. rebounded to a six-month high in March.
Sales of new homes rose 8.8% to a seasonally adjusted annual rate of 693,000 units last month, the highest level since September, data from the Commerce Department showed.
Meanwhile the median house price jumped to a seven month-high from February.
South Korea’s economy grows 3.4% in Q1
The South Korean economy grew 3.4% in the first quarter of the year from a year earlier, official data showed.
Gross domestic product (GDP) for the January-March quarter rose 1.3% compared to the fourth quarter of 2023, data from the Bank of Korea (BOK) showed.
The central bank said at its last rate decision meeting that there was a possibility the economy would grow at a faster pace in 2024 than its earlier projection of 2.1%.
Acute hunger affects 282 mln people in 2023, UN report
Nearly 282 million people in 59 countries and territories suffered from high levels of acute hunger in 2023, an increase of 24 million from the previous year, according to a UN report on Wednesday.
The rise was attributed to increased coverage of food crisis contexts and a sharp deterioration in food security, particularly in the Gaza Strip and Sudan, according to the latest Global Report on Food Crises.
Children and women are at the forefront of these hunger crises, with over 36 million children under 5 years of age acutely malnourished across 32 countries, the report shows. Acute malnutrition worsened in 2023, particularly among people displaced because of conflict and disasters.
