MACRO ECONOMIC NEWS

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Macro Economic News 15 Jun 2019

 

India's trade deficit widened to $15.36 billion in May from a year ago. Central banks in emerging markets around the world are cutting interest rates; with Russia the latest example, as expectations of easier money in the U.S. gives developing markets the room to stimulate their economies. American shoppers ramped up their spending in May, providing critical fuel for the U.S. economy’s continued expansion despite trade tensions and slowing global growth while U.S. household sentiment fell at the beginning of June as renewed trade tensions tapered optimism and smaller gains in employment suggested slower economic growth. Political support for taming federal debt has melted away, and the U.S. is testing just how much it can borrow as few see evidence of dire economic consequences today. Chinese economic data on industrial output and investment added to evidence of a slowdown that some economists said risks breaching the government’s 6% bottom line for growth.

 

FINANCIAL TIMES

[I]  Trump blames Iran for oil tanker attacks

[I]  US universities reconsider links with Chinese AI company

[I]  US economy: the Fed tries to predict politics

[I]  Strong economic data eases fears of US slowdown

[I]  EU ministers split over eurozone budget financing

[I]  China’s industrial output growth falls to record low

[I]  Betting companies double down on deregulated markets

 

REUTERS

[I]  India set to levy higher tariffs on some U.S. goods next week: sources

[I]  Brazil asks for WTO investigation of Indonesia on poultry trade

[I]  U.S. to launch public hearings on additional China tariffs next week

[I]  India's May trade deficit widens to $15.36 billion

[I]  Trump presses Lockheed to keep open a Pennsylvania plant slated for closure

[I]  U.S. to launch public hearings on additional China tariffs next week

[I]  Strong U.S. retail sales improve economy's fortunes

 

BLOOMBERG 

[I]  Oil Short-Selling Surges as Global Demand Outlook Deteriorates

[I]  Argentina’s Rally Is ‘Too Far, Too Fast’ After a Blockbuster Week

[I]  It’s Not Just Corn, U.S. Farmers May Forgo Near-Record Soy Acres

[I]  Bank of England to Keep Key Rate Unchanged as Outlook Darkens

[I]  U.S. Consumer Sentiment Falls in June Amid Tariff Concerns

[I]  India Trade Gap Widens Marginally as Exports Stay Under Pressure

[I]  U.S. Factory Output Rose in May Amid Trade War Uncertainty

[I]  BOE’s Carney Calls for Diversity to Stop Groupthink in Banking

[I]  Emerging-Market Investors Prepare for Fresh Wave of Rate Cuts

 

WALL STREET JOURNAL

[I]  U.S. Consumers Boost Spending Despite Trade Tensions

[I]  The GOP Senator Who Challenges Trump on Trade Policies

[I]  How Washington Learned to Love Debt and Deficits

[I]  China’s Economy Shows Fresh Signs of Weakness

[I]  Emerging Markets Cut Rates Amid Expectations of Looser Fed Policy

[I]  Trump Could Retaliate if Xi Balks at Trade Meeting, Kudlow Says

[I]  U.S. Consumer Sentiment Falls in Early June, Driven by Tariff Concerns

[I]  U.S. Industrial Production Rebounded in May

 

BUSINESS LINE

[I]  India readies retaliatory duties on 29 US goods

[I]  Exports grow 3.9% in May; trade deficit widens to $15.3 billion

[I]  Economists seek Budget push to boost growth

[I]  UP, Maharashtra, Tamil Nadu had highest vehicle registration in May, says FADA

[I]  Take over all outstanding loans, farmers tell Govt

 

ECONOMIC TIMES

[I]  In pre-Budget meet, economists come up with a fix for NBFCs

[I]  RBI has a plan to enhance ATMs' security

[I]  WPI inflation eases to 22-month low of 2.45 per cent in May

[I]  CBDT issues new guidelines for compounding

[I]  India approves multilateral instrument to curb tax treaty abuse

[I]  Make in India to get a fresh impetus

 

BUSINESS STANDARD

[I]  How a 3-km-wide shipping lane is threatening the global oil market

[I]  Job losses mount in NBFC sector, a major recruiter, as lending plummets

[I]  Pharma sales growth hit 19-month low in May as product launches slowed down

[I]  Automobile sales drop 7.5% YoY in May 2019, two-wheeler worst hit: FADA

[I]  Weak monsoon delays kharif sowing, raises fear of widespread drought

[I]  Traders want a major role in policy matters, representation in committees

[I]  Trade deficit at 6-month high of $15.4 bn over increasing oil, gold imports

 

Best Regards, ARBIND

15 Jun 2019