HONG KONG, Nov. 19, 2010 /PRNewswire-Asia/ -- An update on the Singapore economy is due next week with the release of the latest inflation and industrial production data on Tuesday 23rd and Friday 26th respectively. The data will provide an opportunity to gauge the likelihood that more cooling measures will be enacted in the property sector to prevent any further signs of overheating in the economy.
Construction activity in Australia likely to moderate
Since June, the Performance of Construction Index has trended below the critical 50 point level that separates expansion from contraction. Meanwhile, the number of dwelling approvals not yet commenced, which can be seen as a proxy for future activity, has been steadily in decline. Looking ahead, the decline in activity has moderated since September, but it remains unlikely that the growth in construction work done will be as strong as that seen in Q2.
European debt crisis to impact property
The sovereign debt crisis in peripheral Europe has re-intensified over the last week. The market's attention is primarily focused on Ireland, but contagion risks are spreading to other countries, most notably Portugal. Given these developments, a pertinent question is what the likely impact will be on property within these markets.
Inflation concerns in Brazil
The coming week sees the unemployment rate for October released on Thursday 25th. The previous month saw the unemployment rate drop from 6.7% to 6.2%, the lowest value since the series started in 2002. The better than expected labour figures also showed a surge in real wages, which will increase calls for the central bank to resist inflationary pressures building in the economy.
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