From Australia, yesterday, Construction Work Done and Wage Prices Index data was published. The trend estimate for total construction work done fell 1.6% in the December quarter 2015. The seasonally adjusted estimate for total construction work done fell 3.6% to $48,413.4m in the December quarter. Analysts were expecting 2.1% decline. The trend estimate for total building work done rose 1.0% in the December quarter. The trend estimate for non-residential building work done rose 0.3% and residential building work rose 1.4%. The seasonally adjusted estimate of total building work done rose 2.7% to $24,990.2m in the December quarter.
Separate report on
Wage Price Index showed that the trend index and the seasonally adjusted index for Australia rose 0.5% in the December quarter 2015, missing forecasts on 0.6% increase. The Private and Public sectors both rose 0.5% seasonally adjusted. The rises in indexes at the industry level (in original terms) ranged from 0.1% for Mining and Administrative and support services to 1.1% for Financial and insurance services.
In the US session New Home Sales figures were released. Purchases of new homes dropped more than forecast in January as contract signings slumped in the western U.S. by the most since May 2010. Sales declined 9.2% to a 494,000 annualized pace after a 544,000 rate in December that was the strongest in 10 months, Commerce Department data showed Wednesday. The median forecast of economists called for 520,000. Sales in the West fell 32.1%.
As for tomorrow, Private Capital Expenditure data will be published from Australia. Decline by 3.1% is anticipated. In the US session Unemployment Claims and Durable Goods Orders figures will be released. Analysts predict increase to 272,000 in Unemployment Claims and 3.0% rise in Durable Goods Orders.
Figures to watch:
Private Capital Expenditure (Thursday 1:30)
Unemployment Claims (Thursday 14:30)
Durable Goods Orders (Thursday 14:30)
