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Quarterly Market Update Macro-economy

Americas

(US, Canada, Mexico, Brazil)

Q3 2014

Global Market Intelligence Team

December 2014Internal Use onlyCONFIDENTIALSM1Macro Economy Q314 Update USNote: Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2000. For CLI the highest and lowest index value since Jan 2000 is considered.Source: Bureau of Economic analysis and OECD. US Census Bureau, The Conference Board, For GDP forecast and estimates Citibank report, Trading EconomicsComposite Leading Indicator (CLI)Key EventsGDP Growth (%)Share Prices Index (2010=100)Unemployment rate decreased to 5.9% in Q314, as compared to 6.1% in Q214Trade deficit increased to about USD 43.6 Billion in September14 from USD 39.9 Billion in August14 Imports and exports of US for September14 were worth USD 238.8 Billion and USD 195.2 Billion, respectivelyThe inflation rate was recorded at 1.7% for September14, same as compared to August'14Consumer confidence index increased to 84.6 in September14, as compared to 82.5 in August'14US reported a GDP growth of 5.0% in Q314, as compared to 4.6% in Q214. It is the highest since Q311. Growth was supported by upturns in real personal consumption expenditures, durable goods, nondurable goods and servicesGrowth in Federal Government consumption expenditures and gross investment increased 9.9% in Q314, as compared to -0.9% in Q214. Investment by National defence increased 16.0% in Q314, as compared to 0.9% in Q214Growth in real non residential fixed investment, investment in equipment, investment in intellectual property and real residential fixed investment witnessed a marginal increase in GDP growth in the Q314 third estimate, as compared to the growth in Q314 second estimateUnemployment,Trade Deficit, Exports and Imports, Inflation, consumer confidencehttp://www.tradingeconomics.com/united-states/unemployment-ratehttp://www.tradingeconomics.com/united-states/balance-of-tradehttp://www.tradingeconomics.com/united-states/exportshttp://www.tradingeconomics.com/united-states/importshttp://www.tradingeconomics.com/united-states/inflation-cphttp://www.tradingeconomics.com/united-states/consumer-confidence2Canadas economy growth rate was recorded at 2.8% in Q3'14, as compared to 3.1% in Q2'14Net exports, consumer spending and private/public investments contributed the most to the growth while inventories dragged the expansion down during Q314CLI and Share Price Index were recorded at 100.2 and 127.1, respectively, during Q314Macro Economy Q314 Update CanadaNote: Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2000. For CLI the highest and lowest index value since Jan 2000 is considered.Source: OECD, GDP forecast from Citibank, Trading EconomicsUnemployment rate decreased to 6.8% in September14 from 7.0% in August14CPI (Consumer Price Index) was recorded at 125.8 in September14, as compared to 125.7 in August14Exports from Canada were reported at USD 40.2 Billion in September14. Imports to Canada were reported at USD 39.9 Billion in September14 The trade balance for Canada witnessed a surplus of USD 0.3 Billion in September14 Business Confidence Index increased to 58.6 in September14, as compared to 50.9 in August14

GDP Growth (%)Composite Leading Indicator (CLI)Key EventsShare Prices Index (2010=100)Unemployment Rate, CPI, Exports, Imports, trade balance, Business confidence index http://www.tradingeconomics.com/canada/unemployment-ratehttp://www.tradingeconomics.com/canada/consumer-price-index-cpihttp://www.tradingeconomics.com/canada/exportshttp://www.tradingeconomics.com/canada/importshttp://www.tradingeconomics.com/canada/balance-of-tradehttp://www.tradingeconomics.com/canada/business-confidence

GDPhttp://www.focus-economics.com/news/canada/gdp/economic-growth-decelerates-lowest-rate-over-year-q13The GDP growth for Mexico was recorded at 2.2% in Q314, when compared to 4.2% in Q214GDP growth rate for Mexico decreased in Q314, when compared to Q214, due to lower production in industry and services whereas growth in agriculture sector increased CLI and Share Price Index were recorded at 100.4 and 134.6, respectively, during Q314

Macro Economy Q314 Update MexicoNote: Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2000. For CLI the highest and lowest index value since Jan 2000 is considered.Source: OECD. GDP estimate from Citibank Report, Trading Economics, Clarion Partners, Wall Street JournalUnemployment rate decreased to 5.1% in September14 from 5.2% in August14Inflation in Mexico was reported at 4.2% in September14, an increase as compared to 4.1% in August14Industrial output reported a growth of 3.0% in September14, as compared to 1.1% in August14Trade surplus rose to USD 590.0 Million in September14, as compared to a trade deficit of USD 1123.0 Million in August14Imports and exports of Mexico for September14 were worth USD 33.7 Billion and USD 34.3 Billion, respectivelyBusiness confidence index increased to 53.1 in September14 from 52.4 in August14GDP Growth (%)Composite Leading Indicator (CLI)Key EventsShare Prices Index (2010=100)Unemployment Rate, CPI, industrial outputs, Exports, Imports, trade balance, Business confidence index http://www.tradingeconomics.com/mexico/unemployment-ratehttp://www.tradingeconomics.com/mexico/inflation-cpihttp://www.tradingeconomics.com/mexico/industrial-productionhttp://www.tradingeconomics.com/mexico/exportshttp://www.tradingeconomics.com/mexico/importshttp://www.tradingeconomics.com/mexico/business-confidencehttp://www.tradingeconomics.com/mexico/balance-of-trade

GDPhttp://www.tradingeconomics.com/mexico/gdp-growth-annualUnemployment

4GDP growth rate in Brazil increased to 0.4% in Q314, as compared to a decline of 2.4%, in Q214GDP growth rate increased due to a rise in government spending and exports, but it was not enough to offset a drop in consumptionCLI and Share Price Index were recorded at 99.2 and 85.1, respectively, during Q314Macro Economy Q314 Update BrazilNote: -Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2000. For CLI the highest and lowest index value since Jan 2000 is considered. - GDP denotes Y-o-Y growth rate and not Q-o-Q growth that is seasonally adjustedSource: OECD for CLI and Share Prices Index. GDP from IBGE. Estimates from Citibank, Trading EconomicsUnemployment rate decreased to 4.9% in September14 as compared to 5.0% in August14Inflation rate was reported at 6.8% in September14, an increase from 6.5% in August14Industrial production in Brazil wasreported at -2.1% in September14Brazil witnessed a trade deficit of USD 939.0 Million in September14 Business confidence was reported at 46.5 for September14, which was the same as compared to August14Consumer confidence increased to 109.7 in September14, as compared to 108.3 in August14GDP Growth (%)Composite Leading Indicator (CLI)Key EventsShare Prices Index (2010=100)Unemployment Rate, inflation, industrial outputs, trade balance, Business confidence index, consumer confidence http://www.tradingeconomics.com/brazil/unemployment-ratehttp://www.tradingeconomics.com/brazil/inflation-cpihttp://www.tradingeconomics.com/brazil/industrial-productionhttp://www.tradingeconomics.com/brazil/balance-of-tradehttp://www.tradingeconomics.com/brazil/business-confidencehttp://www.tradingeconomics.com/brazil/consumer-confidenceGDP1. http://www.tradingeconomics.com/brazil/gdp-growth5Quarterly Market Update Macro-economy

EMEA

(Germany, UK, France, Italy, Spain, Saudi Arabia)

Q3 2014

Global Market Intelligence Team

December 2014Internal Use onlyCONFIDENTIALSM6GDP growth rate increased to 0.3% in Q3'14, as compared to a decline in growth rate of 0.8% in Q2'14GDP growth of Germany increased due to the rise in private and public consumption, which was more than enough to offset weakness in investment CLI and Share Price Index were recorded at 99.6 and 138.3, respectively, in Q314Macro Economy Q314 Update GermanyNote:- Historical Performance Comparison of GDP considers the highest and lowest growth rates since Q1 2000. For CLI the highest and lowest index value since Jan 2000 is considered Source: OECD. Estimates from Citibank report, Trading Economics, Daily FXUnemployment Rate witnessed an increase of 5.0% in September14, as compared to 4.9% in July14Inflation rate was recorded at 0.8%, in September14, flat as compared to August14Industrial production witnessed a decline of 0.1% in September14, as compared to a growth of 2.7% in July14Business confidence in Germany decreased to 104.7 in September14, as compared to 106.3 in August14Trade Surplus was reported at 22.1 Billion (USD 28.0 Billion) in September14Exports from Germany were recorded at 103 Billion (USD 130 Billion) in September14 GDP Growth (%)Composite Leading Indicator (CLI)Key EventsShare Prices Index (2010=100)GermanyGDPhttp://www.tradingeconomics.com/germany/gdp-growth2. OECDUnemploymentRate1.http://www.tradingeconomics.com/germany/unemployment-rateInflation1.http://www.tradingeconomics.com/germany/inflation-cpiIndustrial Production1.http://www.tradingeconomics.com/germany/industrial-productionBusiness Confidence1.http://www.tradingeconomics.com/germany/business-confidenceConsumer Confidence1.http://www.tradingeconomics.com/germany/consumer-confidenceBalance of Trade1.http://www.tradingeconomics.com/germany/balance-of-tradeExports1.http://www.tradingeconomics.com/germany/exports

7GDP growth rate was reported at 2.8% in Q3'14, as compared to a growth rate of 3.3% in Q2'14GDP growth was supported by an increase in private consumption and government spending. However, business investment and exports shrankCLI and Share Price Index were recorded at 100.5 and 123.5, respectively, in Q314Macro Economy Q314 Update UKNote: -Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2000. For CLI the highest and lowest index value since Jan 2000 is considered.Source: OECD. For forecast and estimates of GDP from Citibank Report Trading Economics,ONSUnemployment rate was recorded at 6.0% in September14, as compared to 6.2% in July14Inflation rate decreased to 1.2% in September14, from 1.5% in August14The overall trade deficit was 2.8 Billion (USD 4.6 Billion) for September14 Exports from UK were recorded at 41.7 Billion (USD 67.8 Billion) in September14 Imports to UK were recorded at 44.6 Billion (USD 56.6 Billion) in September14 Industrial production decreased to 0.8% in September14, as compared to 2.2% August14

GDP Growth (%)Composite Leading Indicator (CLI)Key EventsShare Prices Index (2010=100)GDP1.OECD2. http://www.tradingeconomics.com/united-kingdom/gdp-growthUnemployment1. http://www.tradingeconomics.com/united-kingdom/unemployment-rateInflation1.http://www.tradingeconomics.com/united-kingdom/inflation-cpi Balanceof Trade1.http://www.tradingeconomics.com/united-kingdom/balance-of-trade2. Industrial Production1.http://www.tradingeconomics.com/united-kingdom/industrial-productionConsumer Confidence1.http://www.tradingeconomics.com/united-kingdom/consumer-confidence

8GDP growth rate increased to 1.1% in Q3'14, as compared to 0.3% in Q2'14Growth in GDP was was driven by the increase in the government expenditure and household spending while net exports and capital investment decreased CLI and Share Price Index were recorded at 100.3 and 122.6, respectively, in Q314Macro Economy Q314 Update FranceInflation rate decreased to 0.3% in September14, from 0.4% in August14Unemployment Rate in France increased to 10.4% in Q314, as compared to 10.1% in Q214France reported a trade deficit equivalent to 4.7 Billion (USD 5.9 Billion) in September14 Exports were recorded at 36.7 Billion (USD 46.6 Billion) in September14 Industrial production witnessed a decline of 0.3% in September14Consumer confidence decreased to 85.0 in September14, as compared to 85.8 in August14GDP Growth (%)Composite Leading Indicator (CLI)Key EventsShare Prices Index (2010=100)Note: Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2000. For CLI the highest and lowest index value since Jan 2000 is consideredSource: OECD. Estimates from Citibank Report, Trading Economics,INSEEFranceGDP1. http://www.focus-economics.com/news/france/gdp/gdp-registers-flat-growth-q1-confirming-first-estimates2.OECDInflation1.http://www.tradingeconomics.com/france/inflation-cpiUnemployment Rate1.http://www.tradingeconomics.com/france/unemployment-rateBalance of Trade1.http://www.tradingeconomics.com/france/balance-of-tradeExports1.http://www.tradingeconomics.com/france/exportsImports1.http://www.tradingeconomics.com/france/importsConsumer Confidence1.http://www.tradingeconomics.com/france/consumer-confidence9GDP growth rate declined by 0.5% in Q3'14, as compared to a decline of 0.8% in Q2'14Italy fell back into recession during Q314 . GDP growth rate was dragged down by a fall in investment and government spendingCLI and Share Price Index were recorded at 101.3 and 105.6, respectively, in Q314Macro Economy Q314 Update ItalyUnemployment rate was reported at 12.9% in September14Deflation was reported at 0.2% in September14, as compared to inflation of 0.1% in July'14Italy reported a trade surplus equivalent to 2.0 Billion (USD 2.6 Billion) in September14Industrial production declined by 2.7% in September14, as compared to a decrease of 0.7% in August'14Consumer confidence was recorded at 101.9 in September14, flat as compared to August14 Exports were recorded at 34.6 Billion (USD 43.9 Billion) in September14

GDP Growth (%)Composite Leading Indicator (CLI)Key EventsShare Prices Index (2010=100)Note: Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2000. For CLI the highest and lowest index value since Jan 2000 is consideredSource: OECD. Estimates from Citibank Report, Trading Economics,ISTAT,XEGDP1.http://www.tradingeconomics.com/italy/gdp-growth2.http://www.focus-economics.com/en/economy/charts/Italy/GD3.OECDUnemployment Rate1.http://www.tradingeconomics.com/italy/unemployment-rateInflation1.http://www.tradingeconomics.com/italy/inflation-cpiBalance of Trade1.http://www.tradingeconomics.com/italy/balance-of-tradeIndustrialProduction1.http://www.tradingeconomics.com/italy/industrial-production2.http://uk.reuters.com/article/2013/11/11/uk-italy-sept-industry-idUKBRE9AA0AN20131111Business Confidence1.http://www.tradingeconomics.com/italy/business-confidenceConsumer Confidence1.http://www.tradingeconomics.com/italy/consumer-confidenceExports1.http://www.tradingeconomics.com/italy/exportsImports1.http://www.tradingeconomics.com/italy/imports

10GDP growth was recorded at 2.0% in Q314,as compared to a growth rate of 2.4% in Q214The growth was supported by an increased growth in domestic demand, which was capped due to negative contribution from foreign demand CLI and Share Price Index were recorded at 102.5 and 101.3, respectively, in Q314Macro Economy Q314 Update SpainInflation rate was last recorded at 0.05Spain reported an unemployment rate of 23.6% in Q314, a decreased compared to 24.5% in Q214Consumer confidence increased to 89.3 in September14 from 87.7 in August14Industrial Production reported a positive growth of 1.0% in September14 Business Confidence decreased to -7.0 in September14, when compared to -6.7 in August14Benchmark interest rate was last recorded at 0.05%

GDP Growth (%)Composite Leading Indicator (CLI)Key EventsNote: - Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q2 2001. For CLI the highest and lowest index value since Jan 2000 is consideredSource: OECD. Estimates from Citibank, Trading EconomicsShare Prices Index (2010=100)GDP1.OECD2. http://www.tradingeconomics.com/spain/gdp-growth Inflation1.http://www.tradingeconomics.com/spain/inflation-cpiBalanceof Trade1.http://www.rttnews.com/2177237/spain-june-trade-deficit-narrows-significantly.aspx2.http://www.lamoncloa.gob.es/IDIOMAS/9/Gobierno/News/2013/20131120_Exports_data_september.htmBusiness Confidence1.http://www.tradingeconomics.com/spain/business-confidenceConsumer Confidence1.http://www.tradingeconomics.com/spain/consumer-confidenceIndustrial Production1.http://www.tradingeconomics.com/spain/industrial-productionInterest Rate1.http://www.tradingeconomics.com/spain/interest-rate

11Macro Economy Q314 Update Saudi Arabia

Source: Saudi Arabian Monetary agency, Secondary resource, Trading EconomicsExport/Import (in Million Riyals) Wholesale price Index (1988=100)Key EventsShare Prices Index (1999=1000)The wholesale price Index and Share price Index were recorded at 159.3 and 10855.0, respectively, in Q314The GDP growth of Saudi Arabia is expected to stay above 4% for whole of 2014, according to the IMF. It has a great role in stabilizing the global oil market hence the oil production level is expected to stay high for a short run till the problem in other oil producing nations continue to persistSaudi Arabia may raise oil output in the second half of 2014 to meet expected higher seasonal demand Inflation rate was reported at 2.8% in September14, which was the same as that of August14Manufacturing PMI was recorded at 61.8 in September14, an increase from 60.7 recorded in August14The benchmark interest rate in Saudi Arabia was last recorded at 2.0%Consumer confidence increased to 105 in Q314, as compared to 102 in Q214 Saudi Arabia

GDP:http://www.reuters.com/article/2014/07/03/saudi-gdp-idUSL6N0PE20520140703http://www.tradingeconomics.com/saudi-arabia/indicators

Inflation Rate:http://www.tradingeconomics.com/saudi-arabia/inflation-cpiManufacturing PMI:http://www.tradingeconomics.com/saudi-arabia/manufacturing-pmiInterest Rate:http://www.tradingeconomics.com/saudi-arabia/interest-rateConsumer confidence:http://www.tradingeconomics.com/saudi-arabia/consumer-confidence

12Quarterly Market Update Macro-economy

APJ

(China, Japan, India, South Korea, Australia)

Q3 2014

Global Market Intelligence Team

December 2014Internal Use onlyCONFIDENTIALSM13Macro Economy Q314 Update ChinaNote: GDP growth rate denotes Y-o-Y growth rate. Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2005. For CLI the highest and lowest index value since Jan 2000 is considered.Source: GDP Actual from China Statistical Bureau. Forecast from Citibank Report, Trading EconomicsGDP Growth (%)Composite Leading Indicator (CLI)Share Prices Index (2010=100)Key EventsInflation rate decreased to 1.6% in September14, as compared to 2.0% in August14Consumer confidence increased to 105.4 in September14, from 103.8 in August14Industrial production rose by 8.0% in September14, an increase of 1.1% from 6.9% in August14China reported a trade surplus of USD 309.4 Million for September14 Bank lending rate in China was last reported at 5.6%Business Confidence in China decreased to 119.0 in Q314, from 121.4 in Q214GDP of china was reported at 7.3% in Q314, as compared to 7.5% in Q214Increase in fixed-assetinvestment and retail sales supported GDP growth, whereas lower property investment and weaker industrial production capped further increase in GDP growth during Q314CLI and Share Price Index were recorded at 99.1 and 78.0, respectively, during Q314Inflation1.http://www.tradingeconomics.com/china/inflation-cpiConsumer Confidence1.http://www.tradingeconomics.com/china/consumer-confidence Business Confidence1. http://www.tradingeconomics.com/china/business-confidenceIndustrial Production1.http://www.tradingeconomics.com/china/industrial-productionBank LendingRate1.http://www.tradingeconomics.com/china/bank-lending-rateConsumer Confidence1.http://www.tradingeconomics.com/china/consumer-confidenceBalance of Tradehttp://www.tradingeconomics.com/china/balance-of-tradeGDPhttp://www.tradingeconomics.com/china/gdp-growth-annual2.OECD

14Macro Economy Q314 Update JapanNote: Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2000. For CLI the highest and lowest index value since Jan 2000 is considered.Source: OECD. For GDP forecast and estimate source used is Citibank, Trading EconomicsGDP Growth (%)Composite Leading Indicator (CLI)Key EventsShare Prices Index (2010=100)Inflation rate was recorded at 3.2% in September14, as compared to that of 3.4% in July14Japan reported a trade deficit equivalent to 958.3 Billion (USD 8.6 Billion) in September14 Exports were valued at 5940.5 Billion (USD 58.3 Billion) in September14 Consumer confidence decreased to 39.9 in September14, as compared to 41.2 in August14 Industrial production witnessed an increase of 0.8% in September14, compared to a decline of 3.3% in August14 Unemployment rate was recorded at 3.6% in September14

GDP in Japan declined to 1.6% in Q314, as compared to a decline of 7.0% in Q214Decline in the growth of domestic demand along with weak consumption and capital investment offset the increase in growth due to consumer spending during Q314 CLI and Share Price Index were recorded at 99.1 and 145.2, respectively, during Q314JapanGDP1.http://www.tradingeconomics.com/japan/gdp-growth2.OECDInflation1.http://www.tradingeconomics.com/japan/inflation-cpiBalance of Trade1.http://www.tradingeconomics.com/japan/balance-of-tradeConsumerConfidence1.http://www.tradingeconomics.com/japan/consumer-confidenceIndustrialProduction1.http://www.tradingeconomics.com/japan/industrial-production2.http://www.reuters.com/article/2014/02/13/us-japan-economy-gdp-idUSBREA1C05O20140213Exports & Imports1.http://www.tradingeconomics.com/japan/exports2.http://www.tradingeconomics.com/japan/importsUnemployment1. http://www.tradingeconomics.com/japan/unemployment-rate15Macro Economy Q314 Update IndiaGDP Growth (%)Composite Leading Indicator (CLI)Key EventsShare Prices Index (2010=100)Note: Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2005. For CLI the highest and lowest index value since Jan 2000 is considered. GDP growth rate denotes year-on-year growth rate . Source: GDP estimates from Citibank report, Trading EconomicsInflation rate in India was recorded at 6.5% in September14, a decrease as compared to 7.7% in August14Exports and imports in India were recorded at USD 28.9 Billion and USD 43.2 Billion respectively, in September14 India reported a trade deficit of USD 14.2 Billion in September14Consumer Confidence in India decreased to 126 in Q314, from 128 in Q214The benchmark Interest Rate in India was last recorded at 8%Industrial Production increased to 2.8% in September14, when compared to 0.5% in August14GDP growth was reported at 5.3% in Q314, as compared to 5.7% in the Q214Financing, insurance, real estate and business services reported higher growth in Q314, which was capped by weaker growth in the manufacturing sectorCLI and Share Price Index were recorded at 99.1 and 144.3, respectively, in Q314

GDPhttp://www.tradingeconomics.com/india/gdp-growth-annualhttp://dupress.com/articles/global-economic-outlook-q1-2014-india/3.OECDInflation1.http://www.tradingeconomics.com/india/inflation-cpiBalance of Trade1.http://www.tradingeconomics.com/india/balance-of-tradeIndustrial Production1.http://www.tradingeconomics.com/india/industrial-production2.http://in.reuters.com/article/2013/11/12/india-economy-output-idINDEE9AB02I20131112Benchmark Interest Rate1.http://www.tradingeconomics.com/india/interest-rateExports & Imports1.http://www.tradingeconomics.com/india/exports2. http://www.tradingeconomics.com/india/importsBank Lending Rate1.http://www.tradingeconomics.com/india/bank-lending-rate

16Macro Economy Q314 Update South KoreaGDP Growth (%)Composite Leading Indicator (CLI)Key EventsShare Prices Index (2010=100)Note: Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2000. For CLI the highest and lowest index value since Jan 2000 is considered.Source: OECD, For GDP forecast and estimate source used is Citibank, Trading EconomicsInflation rate decreased to 1.1% in September14, as compared to 1.4% in August14 Industrial Production increased significantly to 1.9% in September14, from -2.8% in August14 Exports and Imports were recorded at USD 47.8 Billion and USD 44.3 Billion, respectively, in September14It reported a trade surplus of USD 3.4 Billion in September14The benchmark interest rate was last recorded at 2.0%Consumer confidence increased to 107 in September14, as compared to 105 in July'14Business Confidence increased to 74 in September14, from 72 in August14GDP expanded to 3.4% in Q314, as compared to 2.4% in Q214The increase in the GDP growth of Q314 compared to Q214, was due to a rebound in private consumption and higher construction investmentCLI and Share Price Index were recorded at 100.9 and 115.9, respectively, in Q314GDPhttp://dupress.com/articles/asia-pacific-economic-outlook-june-2014-south-korea/OECDInflation Rate1.http://www.tradingeconomics.com/south-korea/inflation-cpiIndustrial Production1.http://www.tradingeconomics.com/south-korea/industrial-productionBalanceof Trade1.http://www.tradingeconomics.com/south-korea/balance-of-tradeBenchmark Interest Rate1.http://www.tradingeconomics.com/south-korea/business-confidenceExports& Imports1.http://www.tradingeconomics.com/south-korea/exports2.http://www.tradingeconomics.com/south-korea/importsConsumer Confidencehttp://www.tradingeconomics.com/south-korea/consumer-confidenceBusiness Confidencehttp://www.tradingeconomics.com/south-korea/business-confidence

17Macro Economy Q314 Update AustraliaGDP Growth (%)Composite Leading Indicator (CLI)Key EventsShare Prices Index (2010=100)Note: -Historical Performance Comparison for GDP considers the highest and lowest growth rates since Q1 2000. For CLI the highest and lowest index value since Jan 2000 is considered. Source: OECD, For GDP forecast and estimate source used is Citibank report, Trading Economics, Wall Street JournalInflation rate in Australia was recorded at 2.3% in Q314Benchmark interest rate in Australia was last recorded at 2.5%Unemployment rate was reported at 6.2% in September14, an improvement of 0.1% when compared to 6.1% in August14Australia reported a trade deficit of AUD 2235.0 Million (USD 1950.1 Million) in September14Business confidence decreased to 7 in August14 as compared to 10 in July14Exports and imports were recorded at AUD 26.4 Billion (USD 23.1 Billion) and AUD 28.7 Billion (USD 25.1 Billion), respectively, in September14GDP in Australia expanded to 2.7% in Q314, as compared to 2.0% in Q214Net exports and consumption contributed the most to the growth, while public/private investment dragged the expansion down during Q314 CLI and Share Price Index were recorded at 100.0 and 119.2, respectively, in Q314GDP1.http://www.tradingeconomics.com/australia/gdp-growth-annual2.https://mninews.marketnews.com/index.php/update-australia-q4-gdp-hits-consensus-below-rba-forecast-0?q=content/update-australia-q4-gdp-hits-consensus-below-rba-forecast-03. OECDInflation1.http://www.tradingeconomics.com/australia/inflation-cpiBusiness Confidence1.http://www.tradingeconomics.com/australia/business-confidenceBalanceof Trade1.http://www.tradingeconomics.com/australia/balance-of-tradeBenchmark Interest Rate1.http://www.tradingeconomics.com/australia/interest-rateExports & Imports1.http://www.tradingeconomics.com/australia/exports2.http://www.tradingeconomics.com/australia/importsUnemployment rate1.http://www.tradingeconomics.com/australia/unemployment-rate

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