January, as it did during the fourth-quarter of last year, signaling the sector's persisting headwinds, with the Federal Reserve Bank of Kansas City's Tenth District manufacturing survey's composite index rising to minus 1 from a revised minus 4 in December. An index reading lower than zero suggests activity shrank. (DJN) New orders in the U.S. for durable goods increased 5.6% in December to a seasonally adjusted $286.9 billion, the Commerce Department said. The gain followed a revised 1.7% decrease in November, the steepest drop last year. For all of 2022, orders rose 10.5% from the prior year. (DJN) The South African Reserve Bank raised its main repo rate to 7.25% from 7% in an effort to keep inflation in check amid worsening rolling electricity blackouts, a weaker currency and high food prices. (DJN) Brazil recorded a current-account deficit of $10.9 billion in December, compared with $60 million in November, the central bank said Thursday. The 12-month current-account deficit reached $55.7 billion in December, compared with $52.4 billion reported through to the previous month, the central bank said. (DJN) The Spanish economy expanded more than expected in the fourth quarter of 2022, growing 0.2% in the fourth quarter compared with the previous three-month period, preliminary data from the country's statistics office INE showed. The economy expanded a revised 0.2% in the third quarter as well. Economists polled by The Wall Street Journal expected GDP to grow by 0.1% in the fourth quarter. (DJN) Residential property rents surged in Singapore in 2022 as demand stayed high and supply tight, while the rise in private-homes prices slowed, suggesting that market-cooling measures may be taking effect. (DJN) Feedback Loop
This newsletter is compiled by James Christie in San Francisco.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
01-27-23 0718ET
