Employers in the U.S. took on more workers in March than a month earlier and the jobless rate fell, indicating companies were confident sales will rebound from a weather-related setback, according to economists.
Australian Treasurer Wayne Swan projected a higher-than-expected A$3.1 billion ($2.7 billion) surplus in three years on surging tax revenue from mining companies as the government prepares to call an election.
Australian home-loan approvals fell in June, after gaining in May for the first time in eight months, adding to signs the most aggressive round of interest-rate gains by a Group of 20 member is cooling demand for dwellings.
An expansion in Australia’s economy, now in its 20th year of growth as a mining investment boom intensifies, will boost inflation pressures in coming years, central bank Deputy Governor Ric Battellino said.
Australia’s central bank faces a “finely balanced” decision on whether to increase borrowing costs for the sixth time in seven meetings, as Governor Glenn Stevens weighs a near doubling of inflation against concerns about European debt.