MACRO ECONOMIC NEWS

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Macro Economic News 29 Nov 2019

 

China is leaving the door open for a trade deal with the U.S., even as it noisily complains about President Trump’s signing of a bill supporting Hong Kong’s anti-Beijing protesters. The U.S. economy headed into the holiday-shopping season on solid ground with a pickup in household spending and orders for long-lasting factory goods. Canada’s Economy Faces a Prolonged Period of Sluggish Growth. The Bank of Mexico lowered its economic growth estimates for 2019 and 2020, saying weakness had been more pronounced and prolonged than it previously expected whereas Mexican central bank signals rate cuts will only come gradually. UK consumer confidence stuck at six-year low in November. Fitch warns Eurozone is at risk of Japan-style stagnation, while Global trade slowdown hits EU the hardest; Lebanon urged to restructure debt as crisis deepens. Germany falls out of love with economic orthodoxy. India's economy is seen growing at 4.7% in September quarter however India remains king of overseas remittances and Credit card spend is expected to grow to Rs 15 trillion by FY24. Stats panel has recommended 2020-21 as GDP base year.

 

FINANCIAL TIMES

[I]  Eurozone at risk of Japan-style stagnation, Fitch warns

[I]  Macron warns Turkey on Nato allies’ solidarity

[I]  Brussels ramps up emissions goals amid ‘climate emergency’

[I]  Trump signs Hong Kong pro-democracy bills

[I]  Hong Kong act complicates US-China relationship

[I]  Europe’s joint space programme gets rise in spending

[I]  Global trade slowdown hits EU the hardest, figures show

[I]  Lebanon urged to restructure debt as crisis deepens

[I]  Germany falls out of love with economic orthodoxy

 

REUTERS

[I]  India's economy seen growing at 4.7% in September quarter

[I]  Jordan says began negotiations over new IMF program

[I]  Japan's factory output posts biggest fall in almost two years

[I]  UK consumer confidence stuck at six-year low in November: GfK

[I]  Chile central bank says to sell up to $20 billion in interventions

[I]  Japan's jobless rate stays at 2.4% in October: government

[I]  Peru signs measure to speed up $29 billion infrastructure spending

[I]  Japan's retail sales slump the most since 2015 as tax hike hits demand

[I]  Serbia hails end of austerity as parliament passes 2020 budget

[I]  China reiterates its pledge to lower trade barriers, widen market access: Xinhua

 

BLOOMBERG 

[I]  The Big Question on Hong Kong: How Will China Hit Back at Trump?

[I]  Euro-Area Sentiment Brightens in Sign Economy Reached Trough

[I]  Saudi Arabia Signals It’s Had Enough of OPEC+ Cheating on Quotas

[I]  Japanese Factory Output Drops More Than Expected In October

[I]  Central Banks’ Climate, Big in Japan, India Shock Looms: Eco Day

[I]  Mexican Central Bank Signals Rate Cuts Will Only Come Gradually

[I]  Canada’s Economy Faces a Prolonged Period of Sluggish Growth

 

WALL STREET JOURNAL

[I]  A Tight Job Market Insulates a Slowing Economy—and Perhaps Trump, Too

[I]  China Criticizes U.S. Support for Protests, Signals Trade Hope

[I]  U.S. Growth Enters Fourth Quarter on More Solid Footing

[I]  U.S. Consumer Spending Rose 0.3% in October

[I]  Transcript: WSJ Interview With Dallas Fed President Robert Kaplan

[I]  Bank of Mexico Cuts Economic Growth Forecasts

 

BUSINESS LINE

[I]  More worries for govt as Q2 GDP growth likely to be below 5%

[I]  E-invoicing mandatory for businesses having turnover of Rs 100 cr or more from April 1

[I]  Companies’ credit profiles unlikely to improve in 2020, warns Moody’s

[I]  Govt seeks ₹21,000 crore as supplementary grant

[I]  Warm Indo-Pacific pool altering global rainfall patterns, reveals study

[I]  Customs Department set to roll out faceless assessment

[I]  Flexi-staffing gains popularity in India

 

ECONOMIC TIMES

[I]  India braces for lowest GDP growth in years

[I]  India remains king of overseas remittances

[I]  Stats panel has recommended 2020-21 as GDP base year: Rao Inderjit Singh

[I]  Highways ministry lines up projects worth Rs 50,000 crore to be awarded in next 3 months

[I]  Typo in tax bill? Bill says lower MAT not this year

[I]  Govt introduces Labour Code on Industrial Relations bill in Lok Sabha

 

BUSINESS STANDARD

[I]  Companies will soon be required to pay for re-skilling retrenched workers

[I]  For states, balancing fiscal maths and capex will be challenging: CRISIL

[I]  Credit card spend expected to grow to Rs 15 trillion by FY24: Report

[I]  From onions in India to Pork in China, rising food prices worry economists

 

MARKETS (06:30 am)

[I]  SGX NIFTY Fut: 12188;  USDINR DGCX: 71.7725;  DJIA Mini: 28103;  FTSE 100 Fut: 7410;  NIKKEI 225 Fut: 23460;  EUR-USD: 1.1011; Crude Oil (WTI): 58.12;  Gold (Spot): 1456

 

Best Regards, ARBIND
29 Nov 2019