Here's our summary of key economic events overnight that affect New Zealand, with news mainland Chinese buyers are again very active in Sydney's new housing markets. And the American trade deficit came in at its lowest in four months, and its second lowest since November 2020. The Caixin China General Manufacturing PMI fell to a small contraction in April which mirrored the official PMI contraction. The ECB raised its benchmark policy rate by another +25 bps overnight to 3.75%. Even before lockdowns were lifted, Foreign Investment Review Board figures show approved mainland Chinese investment in residential real estate totalled AU$1 bln in Q3-2022.

Source: Stuff May 04, 2023 22:46 UTC