US durable goods shipments increased in June suggesting increase in business spending
The Dollar Business Bureau Key US-made consumer durable goods shipments showed an increase in June for the 5th consecutive month indicating that business spending on equipment has increased boosting the economic growth in the second quarter. That the US economy is bettering gained weight as data gathered showed a sharp narrowing of the trade deficit in goods while there has been an increase in retail and wholesale inventories. Government reports on the second quarter GDP estimates on Friday prompted economists to raise growth forecasts to 3.5% annual rate. Voicing cautioned optimism, Chris Rupkey, the Chief economist at Mitsubishi UFJ Financial Group (MUFG), New York told reporters that, ‘the economy still has legs in this long expansion from the end of the recession. The ...
Industrial output falls by 0.8% in April
The Dollar Business Bureau India’s industrial production declined by 0.8 percent in April, due to sharp reduction in capital goods output and manufacturing activities, leading to several requests for proactive steps by the government to improve demand. This is the first fall in three months. Factory production had expanded by 3 percent in April 2015, in terms of Index of Industrial Production (IIP). According to the IIP, production of capital goods, a measure of investment, fell drastically by 24.9 percent in April this year as compared to a growth of 5.5 percent in the same month in 2015. A data released by The Central Statistics Office (CSO) on Friday showed that manufacturing, which comprises over 75 percent of the index, declined by 3.1 percent ...
Indias IIP grows five-month high in July 2015
The Dollar Business Bureau India’s Index of Industrial Production (IIP) climbed to 4.2% in July, 2015 as manufacturing activity and off take of capital goods increased, thus registering 0.9% year-on-year growth. According to data released by the Central Statistics Office, the manufacturing sector grew 4.7% in July. While the manufacturing sector grew 4.7% compared to a contraction of 0.3 % during July 2014-15, capital goods production stood at an impressive 10.6% compared to a contraction of 3% during the same period last year. Whereas, mining sector registered 1.3% growth, Consumer durables goods output expanded 11.4 % with overall consumer goods output standing at 1.3% during the month. However, power generation growth slowed to 3.5%. According to the Department of Industrial Policy and ...
