HONG KONG, May 15 /PRNewswire-Asia/ -- Figures on construction spending in March are due for release on Monday 18th. The last set of numbers highlighted a widening gap in spending between the public and private sectors. While the former was still posting a year on year rise of 1.3% in February, the latter recorded a twelve month drop of 2%.
Boost for Australian first home buyers continues
Focus of Australian news story this week has been the release of the 2009 Budget and the economic outlook over the next few years. From the property market perspective, the highlight was clearly the extension of the First Home Owners Boost Scheme, to be gradually rolled back between October and December 2009.
Signs of less pain for the euro area construction sector
Euro area construction output data for March is due for release on Tuesday 19th. In February, output fell by 0.7% on the month, taking the annual growth rate to -8.9%, slightly above the 9.2% annual fall recorded in December last year.
US commercial property downturn continues
The minutes of the most recent Federal Open Market Committee meeting will be released on Wednesday 20th. Of particular interest in this release will be an update of their economic projections. The last release in January 2009 showed that the Committee has downgraded their expectations.
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