A Few Short Economic Data Observations
-After a drop in January, the German current account surplus increased in February due to higher exports.
German industrial production meanwhile posted its first annual gain (5.6%) in February. However, this improvement has in recent months been a pure base effect, as industrial production is slightly lower than in October.
-Signs of a Canadian housing bubble continues to strengthen.
-The tightening measures adopted by the Chinese authorities appears to have had only a limited effect on the Chinese economy so far, as car sales soar by 63% in March.
-Australian employment growth continued in March, with a gain of 19,600 jobs, equivalent of 270,000 in the U.S. Because of Australia's high population growth however, the unemployment rate still remained unchanged and the participation rate fell slightly.