Key Events Around the Globe: March 05

U.S. Private Payrolls Increase by More Than Expected in February- ADP

U.S. private employers added more jobs than anticipated in February, according to the ADP’s national employment report on Wednesday. Private employment grew by 63,000 roles during the month, compared to a downwardly-revised level of 11,000 in January. Economists had seen the figure at 50,000. It was the highest ADP jobs total in roughly a year, underlining recent suggestions from Federal Reserve Jerome Powell that the labor market is showing signs of stabilizing following a period of tepid hiring and muted firing.

Australia Trade Surplus Narrows Unexpectedly in Jan As Exports Slip

Australia’s trade surplus narrowed unexpectedly in January as weaker exports and a rebound in imports weighed on the external balance, data from the Australian Bureau of Statistics showed on Thursday. The seasonally adjusted trade balance fell to A$2.63 billion in January from a revised A$3.37 billion in December, missing expectations of A$3.78 billion. Exports declined 0.9% month-on month, reversing after a 0.9% rise, due to a 5.2% fall in rural goods and a 1.7% drop in non-rural goods.

China Sets 2026 Economic Growth Target at 4.5%–5%

China set its economic growth target for this year at 4.5%-5%, signalling it is willing to tolerate a slower pace than the 5% it achieved last year, a copy of an official government report reviewed by Reuters showed on Thursday.

Manufacturing Rises As Tariffs Weigh on Consumers, Fed Beige Book Shows

Economic activity across the United States showed signs of weakening in late February, with five of twelve Federal Reserve districts reporting flat or declining conditions, up from four in the prior period, according to the Fed’s Beige Book released Wednesday. Meanwhile, seven of the twelve districts showed a slight to moderate increase in economic activity. The divergence reveals a bifurcated economy where manufacturing gains mask consumer struggles, complicating the Federal Reserve’s policy deliberations ahead of its March 17-18 meeting.

US Crude Oil Inventories Rise More Than Expected, Impacting Prices

In a recent release by the Energy Information Administration (EIA), crude oil inventories in the United States showed an increase, providing a critical indicator for market participants and analysts monitoring the energy sector. The EIA’s report detailed that crude oil inventories rose by 3.475 million barrels. This figure surpassed the market forecast, which had predicted an increase of 3.000 million barrels. The larger-than-expected rise in crude oil inventories suggests a potential softening in demand,which could exert downward pressure on crude prices.

Us Services Sector Hits 3-1/2-Year High, Risks Loom From Middle East War

The U.S. services sector activity surged to more than a 3-1/2-year high in February amid strong demand, consistent with hopes for an acceleration in economic growth this quarter, but war in the Middle East poses a downside risk to the rosy picture. The Institute for Supply Management said on Wednesday its nonmanufacturing purchasing managers index increased to 56.1 last month, the highest reading since July 2022, from 53.8 in January. Economists polled by Reuters had forecast the services PMI easing to 53.5.

Source: HSL Prime Daily, 05 March 2026