Global economy looks robust

The global economy continues to show signs of relatively robust growth

Japan today reported a rise in its tertiary index.

Japan's services industries expanded in June, as consumers spent more in shops and on surfing the Internet, suggesting the world's second-biggest economy may sustain a recovery from last year's recession.

The tertiary index, a gauge of demand for services that make up about 60 percent of the economy, increased 1 percent from a month earlier, seasonally adjusted, the trade ministry said today. The median estimate of 30 economists in a Bloomberg Survey was for a 0.9 percent increase...

From a year earlier, the tertiary index rose 2 percent. The retail section of the tertiary index increased 0.9 percent in June...

The tertiary index was unchanged in the second quarter from the first, while the all industry index increased 0.3 percent. In June, the all-industry index rose 1.3 percent from May and 1.7 percent from a year earlier.

Germany reported a rise in the ZEW index.

Investor confidence in Germany, Europe's largest economy, increased to the highest in 17 months in August after the euro's decline spurred exports and German companies increased spending.

A measure of institutional and analyst expectations for economic growth rose to 50 from 37 in July, the ZEW Center for European Economic Research said today in Mannheim. Economists expected a gain to 39, the median of 40 estimates in a Bloomberg survey showed. The index's long-term average is 34.3...

Germany's domestic economy expanded for the first time in nine months in the second quarter, growing 0.3 percent from the previous three months, the Federal Statistics Office said today. Company spending on equipment and inventories led the gain.

Meanwhile, on the inflation front, both Hong Kong and Singapore saw some pick up in their inflation rates. Hong Kong's consumer price index rose 1.3 percent in July from the same month last year after a 1.2 percent increase in June, while Singapore's CPI rose 0.7 percent in July over the previous month on a seasonally-adjusted basis.