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The Bank of Korea kept its benchmark interest rate unchanged at 2.75% in April, in line with expectations, maintaining its cautious stance amid global economic uncertainty.

South Africa’s Retail Sales (YoY) for February rose by 3.9%, a steep drop from the 7.0% growth recorded in January. This slowdown suggests weaker consumer spending momentum amid ongoing economic challenges such as high unemployment, power supply issues, and elevated interest rates.

The deceleration may raise concerns about domestic demand and could influence the South African Reserve Bank's (SARB) policy stance, especially if slower consumption persists alongside subdued inflation.

India's headline inflation, as measured by the Consumer Price Index (CPI), eased to 3.34% YoY in March, down from 3.61% in February and below market expectations of 3.60%. This marks the lowest reading since May 2023 and reinforces the Reserve Bank of India’s cautious stance on interest rates. The moderation was primarily driven by stable food and energy prices, offering some relief to household budgets and supporting consumer sentiment.

South Africa’s mining industry faced a significant setback in February, with Mining Production falling 9.6% YoY, a stark deterioration from January’s -1.5%. Gold output dropped 7.6% YoY, reversing the previous 1.0% growth. These declines highlight ongoing structural challenges in the sector, including power outages, logistical bottlenecks, and weaker global commodity demand, which continue to weigh on South Africa's economic recovery.

India’s trade deficit expanded significantly in March, reaching $21.54 billion, compared to $14.05 billion in the previous month. Exports rose to $41.97 billion, improving from $36.91 billion, but the surge in imports to $63.51 billion—up sharply from $50.96 billion—outpaced export growth and widened the trade gap. The jump in imports suggests robust domestic demand or rising costs in critical sectors, which may weigh on the current account balance and pressure the Indian rupee if the trend persists.

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Brazil’s IBC-Br economic activity index grew by 0.40% in February, doubling expectations of 0.20%, though slowing from January’s strong 0.90% gain. On the inflation front, March CPI figures aligned with forecasts, rising 0.56% month-on-month, bringing the annual inflation rate to 5.48%, up from 5.06% in February. The steady pace of price increases may reinforce the central bank’s cautious stance on monetary policy despite improving economic momentum.

India's banking sector continued its stable expansion, with bank loan growth at 11.0%, slightly below the previous 11.1%, while deposit growth edged up to 10.3% from 10.2%. In a positive sign for macroeconomic stability, the country's foreign exchange reserves rose significantly to $676.27 billion, up from $665.40 billion, providing a stronger buffer against external shocks and enhancing investor confidence in the Indian economy.

India's industrial sector showed signs of a slowdown in February, with industrial production rising just 2.9% year-on-year, significantly below the expected 4.0% and sharply down from January's 5.2%. Manufacturing output also weakened, increasing by 2.9% month-on-month compared to a strong 5.8% expansion previously. The cumulative industrial production growth for the fiscal year through February stood at 4.1%, slightly below the prior 4.2%, suggesting a broader cooling in industrial momentum.

Turkey’s end-year consumer price index (CPI) forecast climbed to 29.98% in April, up from the previous projection of 28.04%, reflecting growing concerns about persistent inflationary pressures. Meanwhile, retail sales data showed signs of cooling: monthly retail sales rose by just 1.1% in February, down from January’s 2.0%, while annual retail sales growth eased slightly to 12.2% from 12.5%. The data points to a moderation in consumer demand, even as inflation expectations continue to rise.

Turkey’s industrial sector faced a setback in February, with industrial production falling by 4.5% month-on-month, signaling a notable slowdown after January’s sharp drop. On an annual basis, output declined by 1.9%, reversing the previous month’s modest growth of 1.2%. The continued contraction reflects ongoing challenges in domestic demand and external market conditions, weighing on the country’s economic momentum.

Brazil's retail sales rose by 0.5% month-over-month in February, matching expectations and accelerating from January's 0.2% growth. However, the year-on-year retail sales increase slowed to 1.5%, slightly below the 1.6% forecast and significantly lower than the 3.1% growth seen previously, suggesting moderating consumer demand. Meanwhile, Brazil's Producer Price Index (PPI) declined by 0.12% MoM in February, missing the expected 0.15% rise and reflecting mild deflationary pressures in the production sector.