MACRO ECONOMIC NEWS

THE ENVIRONMENT IS IN CONTROL TO CARE FOR US, LET US BREATHE CALMNESS. WISHING A SERENE WEEKEND AHEAD.

Macro Economic News 02 Nov 2019

 

Germany and India signed wide-ranging agreements in New Delhi to deepen strategic cooperation and exchanged notes on ways to boost bilateral trade. US wants India to open up more sectors for its companies. GST collections remain subdued at Rs 95,380 cr in October. Govt unlikely to waive off Rs 1.33 trillion tax payout by telcos. As per CMIE, unemployment rate in India rose to a three-year high of 8.5% in Oct while manufacturing PMI drops to 2-year low in October on weak demand. Factory output continued to weaken in many parts of the world during October, according to surveys of purchasing managers, and there were signs the sector’s long slowdown is taking a rising toll on jobs. The U.S. economy has cooled but continues to expand with employers hiring, consumers spending and growth stabilizing. FED Chairman Jerome Powell signalled that the central bank was done cutting interest rates unless it sees a serious slowdown in economic activity. Friday’s US employment report justifies that pause for now. South Africa moves one step closer to junk rating as Moody’s cuts outlook.

 

FINANCIAL TIMES

[I]  US hiring stays firm as consumer hangs in

[I]  Saudi Arabia cuts spending and puts faith in reform

[I]  China cleared to impose $3.6bn in new tariffs on US

[I]  Delhi declares air pollution emergency

[I]  Brooklyn’s property market falters

 

REUTERS

[I]  India to deepen ties, boost bilateral trade with Germany

[I]  U.S.-China trade deal in sight after progress in high-level talks

[I]  Softening demand drags Indian factory growth to two-year low in October - PMI

[I]  On eve of China import fair, EU warns of 'promise fatigue'

[I]  'Deja vu': Argentina braced for new round of debt talks with markets stalled

[I]  U.S.-China trade accord will require three phases - White House adviser

[I]  Trump says trade deal with China coming along well

[I]  China may impose $3.58 billion in annual trade sanctions on U.S. - WTO panel

 

BLOOMBERG 

[I]  Charting the Global Economy: Payrolls and Fed Pause

[I]  How Yields Could Go Negative in the U.S.

[I]  IMF Completes Review of Sri Lanka, Enabling Fund Disbursement

[I]  South Africa Eludes Third Junk Rating as Markets Beg to Differ

[I]  South Africa Moves One Step Closer to Junk Rating as Moody’s Cuts Outlook

[I]  France Inc. Racks Up $45 Billion of Deals in October Spree

[I]  BOE Poised to Unveil Gloomier Forecasts Amid Brexit Uncertainty

[I]  U.S. Shadow Lenders See Loan Volume Slow, Quality Decline

[I]  China Wins WTO Case to Sanction $3.6 Billion in U.S. Trade

[I]  Lebanese Banks Curtail Transfers Abroad Amid Unrest

 

WALL STREET JOURNAL

[I]  Job Gains Help Extend U.S. Economic Growth

[I]  Top Fed Officials Signal Comfort With Pause in Rate Cuts

[I]  Analysis: Jobs Report Supports Fed Case to Pause Rate Cuts

[I]  New York Fed’s Williams Says Economy Is Strong

[I]  Warren Would Tax the Wealthy and Companies to Pay for Medicare for All

[I]  Global Factory Slowdown Takes Toll on Jobs

[I]  Warren’s Medicare for All Would Leave Mark on U.S. Economy

 

BUSINESS LINE

[I]  US wants India to open up more sectors for its companies

[I]  New Delhi asks for Chabahar Port to be insulated from economic sanctions

[I]  Time ripe to launch weather derivatives in India

[I]  PMI-Manufacturing at two year low of 50.6 in October

[I]  India to appeal against WTO dispute panel’s ruling on export promotion schemes

 

ECONOMIC TIMES

[I]  Turkish import seeds a poppy war in India

[I]  Government fixes sugar sale quota of 20.5 lakh tonne for November

[I]  US seeks more relaxation in India FDI policy

[I]  GST collections remain subdued at Rs 95,380 cr in October

[I]  First export preparedness index to rank states, UTs likely in January 2020

[I]  Germany's Merkel likely to press for FTA in talks with Indian PM Modi

[I]  No GST on adoption fees, kids not goods: AAR

[I]  GST collections remain subdued at Rs 95,380 cr in October

 

BUSINESS STANDARD

[I]  Govt unlikely to waive off Rs 1.33 trillion tax payout by telcos

[I]  Corporate debtors set to get IBC immunity against attachment of assets

[I]  Unemployment rate in India rose to a three-year high of 8.5% in Oct: CMIE

[I]  India reiterates its stand to US on strategic relations with Iran

[I]  Manufacturing PMI drops to 2-year low in October on weak demand

 

Best Regards, ARBIND
02 Nov 2019