China maintains robust expansion pace in Q2
The Chinese economy maintained the strong expansion pace in the second quarter, paving the way for surpassing 2017 growth target. The world’s second-biggest economy grew an annualized 6.9 percent in the three months through June, similar to the first quarter’s expansion pace. Analysts had predicted an ease in expansion to 6.8 percent. Industrial production soared 7.6 percent in June from a y...See More
Is China’s inflation rebound losing steam?
Data released on Monday showed that China’s inflation steadied in June, raising questions whether the latest rebound is losing steam.The graph shows that the China’s producer prices index has formed a peak, while the CPI index is steadying after rebound. PPI soared 5.5 percent in the year through June, similar to analysts’ forecasts, after climbing to 7.8 percent four months earlier.CPI for...See More
German industrial production resumes rise for fifth month
German industrial production resumed rise for a fifth consecutive month in May, reflecting the strength of growth in Europe’s biggest economy. Industrial output soared 1.2 percent in May, following a revised 0.7 percent increase in April, surpassing analysts’ projections of 0.2 percent surge. That was the fifth straight monthly gain. From a year earlier, output was 5 percent higher. Data rele...See More
China’s Caixin manufacturing PMI climbs to three-month high
China’s Caixin manufacturing Purchasing Managers’ Index climbed to a three-month high in June, soothing expectations the world’s second biggest economy would continue recovery in the second quarter.The private manufacturing measure recorded 50.4 last month from 49.6 a month earlier, beating median estimates of 49.9. May’s reading was the lowest reading in 11 months. Today’s figures showed re...See More
Figure out the best performing G-10 currency in June
It is not the euro or the pound, the Canadian dollar is the best performing currency in June amid rising bets the Bank of Canada will hike interest rates as soon as next month.BOC rate hike odds edged up to 69 percent on Wednesday, up from 39 percent a day earlier as Governor Stephen Poloz reiterated the BOC may be considering higher borrowing cost.The central bank adopted a tightening bias f...See More
France consumer sentiment climbs to 10-year high
France consumer sentiment climbed to the highest level in 10 years in June, data from national statistics office Insee showed on Wednesday. The sentiment index scored 108 in June, the highest since June 2007, up from a revised of 103 in May. Progress in personal finances, ability to save and readiness to make significant purchases boosted the index. The improvement in consumer sentiment ref...See More
US inflation hits Fed target only one time since 2012
The graph shows that inflation in the United States has met the Federal Reserve’s 2 percent goal just one time since 2012. The PCE deflator, the Fed’s favorite inflation measure, managed to reach the Fed target in one month since 2012, while the core PCE, not including food and energy, has failed to hit the Fed target since 2009. Federal Reserve Bank of New York President William Dudley expe...See More
China industrial production holds up as property investment slows
China’s data released on Wednesday showed that both industrial production and retail sales held up in May, while fixed-asset investment eased. Industrial production gained an annualized 6.5 percent in May, unchanged from the previous month. Analysts had predicted a 6.4 percent increase. During the same period, retail sales edged up 10.7 percent, below forecasts of 10.8 percent. Pr...See More
UK consumer spending reports first fall since 2013
U.K. consumer spending reported the first fall in four years in May, adding to economic challenges as business activity weakens and inflation soars. Consumer spending plunged 0.8 percent in the year ended May, the first fall since September 2013, a report by IHS Markit and Visa showed Monday. The rise in energy prices along with the pound’s depreciation since the Brexit vote last year have p...See More
Yellen has the lowest inflation average in 30 years
Federal Reserve President Janet Yellen has the lowest inflation average for the United States in 30 years, making it a key problem amid progress in labor market.Annual PCE price index, the Fed’s preferred inflation gauge, has averaged 1.1 percent since Yellen took charge in 2014. That is the lowest average in 30 years, compared to a 2.5 average during Alan Greenspan period and 1.9 percent und...See More
Do you think the Group of Seven are still the most powerful economies?
The graph shows that the importance of the Group of Seven as the world’s most powerful economies has deteriorated amid the rise of other G20 economies. Economies such as China, India and Brazil have become superpowers, surpassing some of the large G7 members.See More
Saudi Arabia’s reserves still fall despite recovery in oil prices
Saudi Arabia’s net foreign reserves is still falling despite the recovery in oil prices, data released on Sunday showed. Net foreign assets slipped by $8.5 billion in April to $493 billion from a month earlier, marking the lowest level since 2011. So far, reserves have dropped $36 billion. Oil prices showed some signs of recovery this month after falling in March and April, yet reserves cont...See More
Egypt unexpectedly raises lending, deposit rates
The Central Bank of Egypt unexpectedly decided to raise both lending and deposit rates amidst efforts to lower the sky-high inflation that hit the country since the floatation of the Egyptian pound in November.Policymakers opted on Sunday to lift the overnight deposit rate by two basis points to 16.75 percent, while raised the lending to rate to 17.75 percent. The balance of risks related to...See More
How US political chaos weigh on Fed rate hike path
The latest political chaos in the United States have pushed investors’ odds for an interest rate hike in June down, while may weigh on the Fed’s interest rates path this year. The current effective fed funds rate and the forward overnight index swap rate are meanwhile seeing a 60 percent chance of raising interest rates in June, down from 80 percent just a week ago. Expectations for another r...See More
What does euro area sentiment signal?
The significant improvement euro-area sentiment provides signals that recovery in the 19-nation region will continue to strengthen. Flash GDP reading released today showed that the euro area expanded 0.5 percent in the first quarter, resuming growth for a 16th consecutive quarter since exiting recession in 2013. The ongoing progress in key sectors, services and manufacturing, in April gives...See More
China industrial production, investment add to signs of slowdown
After China’s strong first quarter, data released todays signaled further signs of slowdown as industrial production, fixed investment and retail sales eased in April. Industrial production gained an annualized 6.5 percent in April, easing from a prior of 7.6 percent advance in March. Analysts had predicted a 7.0 percent increase. During the same period, fixed investment edged up 8.9 percent...See More
Egypt’s monthly inflation eases for third month
Egypt’s monthly inflation resumed its ease for a third straight month in April, data from Egypt’s official statistics agency showed Wednesday. The consumer price index (CPI) soared 1.7 percent in April, marking the slowest pace since October, down from 2 percent in March.However, annual urban inflation climbed to 31.5 percent from 30.9 percent in March. Monthly inflation is currently at the...See More
Is China’s PPI upside direction ending?
China’s producer prices signaled a slowdown in April, adding to signs of easing global inflation and moderation of economic momentum with the beginning of the second quarter.China PPI edged up 6.4 percent in the year ended April, compared to a 7.6 percent gain in March and analysts’ projection of 6.7 percent increase. The month-on-month reading reported 0.4 percent drop, the first fall since...See More
China’s exports, imports ease from record high
China‘s exports and imports eased from record highs in April, raising concerns that growth may slow down after the robust kick off in the first three months of this year. In dollar terms, exports advanced 8 percent in April from a year earlier, while imports surged 11.9 percent, resulting in a widening trade surplus of $38.05 billion. Analysts had estimated a 11.3 percent soar and 18 percent...See More
Why the Fed’s vision about gradual rate hikes hasn’t changed?
After the end of the two-day policy meeting on Wednesday, the Federal Reserve opted to leave interest rates unchanged, while had not hinted to any change to their plans to raise the borrowing cost two more times this year. The graph describes the three key reasons that would induce the Fed to continue with their gradual rate hikes this year. At 4.5 percent unemployment rate in March, jobless...See More