Search Result for : Industrial Production

The Dollar Business Bureau  Germany’s industrial output had unexpectedly declined in June - for the first time this year, a data by German Ministry of Economic Affairs revealed on Monday. However, the industrial production increased overall in the second quarter of this year. The production fell by 1.1% in June after increasing 1.2% in May, the data showed. But production in factories and construction companies in Germany was 1.8% higher in the period April-June compared to the previous quarter. The Ministry said the upward trend would continue as indicated from the order levels and favourable business climate. “As unexpected as today's drop in industrial production has been, the German economy is still on track to post another strong quarter,” Carsten Brzeski, an economist with ING ...

By Abin Daya The LIBOR is dead! Well, not quite. But in the next 4 years, it could be. The The Financial Conduct Authority (FCA) announced this week that it intended to phase out the LIBOR by 2021. Post that, banks would no longer be compelled to provide interest quotes to the Inter-Continental Exchange, and in the absence of these, the benchmark would die a natural death. What comes after that? We don’t know yet. But the first item this week is something closer home – India’s foreign trade numbers for the month of June. Apart from what is included in the update, I also tried to explore if there was some sort of correlation between industrial production growth and export performance. ...

The Dollar Business Bureau As growth of country’s industrial production slipped to 3.1% in the month of April, India Inc reiterated its demand for a cut in interest rate by the Reserve Bank of India (RBI), stating that it was imperative to bolster growth as well as consumer demand. Industry body ASSOCHAM said on Monday that the industry has been disappointed by the RBI’s status quo on the interest rates as there was a possibility for a cut in the key policy rate. “It is unfortunate for the industry that while the government has taken steps to revive the demand by implementing reforms, RBI's stance to maintain the status quo has hit the expectations of the industry though there was a room for ...

The Dollar Business Bureau Imports are likely to drive a recovery in world trade this year. According to S&P Global Ratings’ report released recently, world trade growth is gaining momentum after a prolonged period of weakness. Import growth picked up last year in November and continued to sail on the same strong note into 2017. Early months of 2017 saw global imports rise by 4.1% according to the data published by the Netherlands’ Bureau for Economic Policy Analysis. However, the volume of world trade decreased in February by 0.6% while January recorded a 1% increase. World industrial production grew 0.2% month on month and world industrial production momentum was 0.9%. According to an S&P economist “This pickup in global trade is benefiting the ...

The Dollar Business Bureau  Supported by the higher production of steel and coal, the eight core sectors in India grew by 5% in the month of March, a fastest growth in the past three months.  The rate of growth of eight infrastructure industries, i.e., steel, coal, natural gas, crude oil, refinery products, fertilisers, electricity and cement, was relatively low compared to 9.3% recorded in the same month last year. According to the data released by the government on Monday, coal production grew by 10% in the said month compared to 2.5% in the previous year.  The production of steel, both alloy and non-alloy, increased by 11% in March whereas it had increased by 7.8% in the same period in 2016.  ...

The Dollar Business Bureau  The economy of China grew 6.9% in the January-March period of 2017, as per the Chinese government data, beating estimates in the recent indication of stabilisation of the second-largest economy of the world. The reading was an improvement compared to the average analyst expectations of 6.8% in a poll conducted by AFP. “The national economy in the first quarter has maintained a momentum of steady and sound development," said National Bureau of Statistics of China in a statement on Monday. The positive changes continue to emerge and the performance of key indicators is better than estimated, the Bureau added. The Chinese government has cut down its Gross Domestic Product (GDP) growth target of 2017 to about 6.5 % as the economy, ...

The Dollar Business Bureau  India's GDP growth is likely to slip to 6.7% in the January-March quarter from 7%, but could gradually recover to 7.7% in 2018, predicted the Japanese financial services major Nomura.  The gradual recovery to 7.7% could happen due to higher consumption- as a result of state pay hikes, lower lending rates and remonetisation and public spending, the report stated. "In our view, the recovery in industrial production should gather momentum through 2017 supported by ongoing remonetisation, release of pent-up consumption demand, lower lending rates, higher public capex and impending pay hikes for state government employees."  Making a mention of the after-effects of demonetisation, Nomura said that the soft industrial activity that was seen in February was due to the ...

The Dollar Business Bureau The core sector has boasted a growth rate of 4.9% in the month of November 2016 over November 2015. Of the eight industries that account for 38% of the Indian industrial production, power (which also holds the highest weightage) seems to have saved the day with a 10.2% growth, April 2016 being the last time it achieved a higher growth rate (14.7%). Crude oil and natural gas have shrunk by 5.4% and 1.7% respectively, continuing the downward trend observed during the past few months. Cement (0.5%), steel (5.6%) and refinery products (2.0%) have performed dismally in comparison to October month’s growth numbers of 6.2%, 16.9% and 15.1% respectively. Coal takes the bright spot by sporting a growth of 6.4% after three ...