Economy Highlights:

US - Index of leading economic indicators rises 0.8%

The index of US leading indicators rose in February, the eighth consecutive gain and a sign supporting the Federal Reserve’s statement that the recovery has gained traction. The Conference Board’s gauge of the outlook for the next three to six months increased 0.8% after rising 0.1% in January, the New York-based group said. (Bloomberg)

US - Manufacturing strengthens, bolstering expansion

Production at US factories increased for a sixth month in February, indicating manufacturing will keep stoking the economy and underscoring the Federal Reserve’s view of a stronger expansion. The 0.4% rise in manufacturing output, which makes up 75% of all industrial production, followed a 0.9% January gain that was three times as large as initially estimated, Fed figures showed. (Bloomberg)

India - Braces for inflation risks from oil after rate increase

India faces pressure to step up its battle against price gains even after the steepest interest-rate increases among Asia’s major economies, as oil costs rise and consumer demand strengthens. The Reserve Bank of India raised its inflation forecast for the second time since late January as it lifted the benchmark repurchase rate by a quarter-point to 6.75%, the eighth move in a year. (Bloomberg)

Japan - Injects more funds to calm post-quake chaos

Japan pumped more funds into its shaky financial system after stocks fell and the yen surged to a record high, which Tokyo blamed on currency speculators following a huge earthquake. The central bank injected another JPY6trn (USD76bn), increasing to JPY34trn the total amount of funds added to money markets since Monday to soothe jitters after last week's devastating quake and tsunami. (Business Times)


Singapore - Export growth slowed as electronics, drug sales ease

Singapore’s export growth slowed more than economists expected in February as electronics shipments fell after the Lunar New Year holidays curbed demand from China for manufactured parts. Non-oil domestic exports climbed 7.8% from a year earlier, after a revised 20.7% gain in January, the island’s trade promotion agency said in a statement. The median forecast of 11 economists surveyed by Bloomberg News was for an increase of 10.5%. (Bloomberg)