Australia’s job market remained ultratight in June, with the unemployment rate unmoved from its lowest levels in nearly 50 years despite households and businesses feeling increasing pain from soaring interest rates and record mortgage repayments.
SKF said it still sees high single-digit organic sales growth for the full-year after posting above-forecast results in the second quarter, with adjusted operating margin of 13.3%.
Volvo reported a rise in adjusted operating margin to 15.4% in the second quarter, while deliveries rose 5%, and the company raised its 2023 market forecast for Europe and North America.
The Asian Development Bank kept its 2023 economic growth projection for the region steady, as consumption and investment is expected to help offset weakness in exports amid weak global demand.
New Zealand consumer price inflation cooled in the second quarter as fuel costs continued to ease, but the pace of price gains across the economy is still enough to keep the Reserve Bank of New Zealand vigilant for some time yet.
SEB posted an increased net profit of SEK9.8 billion in the second quarter as net interest income rose 53%, but said that part of the transitory strength it has seen in net interest income “was behind it.”