MACRO ECONOMIC NEWS

ए जिंदगी तुझसे मोहब्बत है, तो है. WISHING A BLISSFUL WEEKEND AHEAD.

Macro Economic News 08 Feb 2020

 

Indian tour operators estimate they could lose up to $500 million because of cancellations and it could rise four-fold if the virus fear persists through the year. The epidemic continued to stifle activity across economies, especially in Asia. Consumer sentiment in India worsened to an almost five-year low and manufacturing slack at companies widened. The US employers added 225,000 jobs in January and the jobless rate was 3.6%, signs the U.S. labor market is positioned to fuel economic growth in 2020. The solid January employment report should comfort Federal Reserve officials about the state of the U.S. economy before the recent threats to global growth surfaced from the virus outbreak. The Federal Reserve said that risks of weaker-than-expected U.S. growth had declined late last year but that the possible spillovers from the effects of the new coronavirus in China present a new risk to the outlook. The U.S. Consumer Credit tops forecast on surge in revolving debt while a survey finds Indian Consumers' mood is worsening to 5-year low and building slacks. Finance Minister said, “Working on FRDI Bill, but can’t commit to timeline” whereas 5L Indian credit cards on sale on the dark web. RBI in its inflation outlook flags price rise in food and other items.

 

FINANCIAL TIMES

[I]  German carmakers can fend off China, says Berlin

[I]  Coronavirus outbreak weighs heavily on global economy

[I]  China lockdown sends ripples worldwide as supply chains and consumer spending dry up

[I]  Early hype around adoption of IoT networks gives way to realities on the ground

[I]  Unemployment rate ticks up to 3.6% in an otherwise strong start to 2020

[I]  Australian dollar hits lowest level in nearly 11 years

[I]  Growth-sensitive currency drops as coronavirus jeopardises economic outlook

 

REUTERS

[I]  India tour operators face severe blow from coronavirus

[I]  Global defence firms line up as India goes shopping to update ageing fleet

[I]  Treasury's Mnuchin sees U.S. GDP growth less than 3% in 2020

[I]  Asia Gold: Virus continues to take toll on demand in China, Hong Kong

[I]  Consumer discretionary names could see bumpy ride

[I]  Mild weather boosts U.S. job growth; jobless rate ticks up

[I]  Fed says risks to economy easing, but calls out coronavirus in report to Congress

 

BLOOMBERG 

[I]  Brutal Month Has China Analysts Rethinking Everything Yet Again

[I]  U.S. Closes Antitrust Probe of Carmakers Over Emissions Pact

[I]  U.S. Consumer Credit Tops Forecast on Surge in Revolving Debt

[I]  U.S. Drones Scouring for Rare Earths to End Reliance on China

[I]  Commodity-Related Currencies Hammered as Risk-Off Returns

[I]  Turkey’s Defense Line Fails as Lira Slips Past 6 Per Dollar

 

WALL STREET JOURNAL

[I]  U.S. Economy Added 225,000 Jobs in January

[I]  Fed Officials Likely to Take Comfort From Jobs Report

[I]  Xi Assured Trump China Will Meet Obligations Under Deal, Kudlow Says

[I]  Fed: Possible Spillovers From Coronavirus Pose New Risk to Economic Outlook

[I]  Bill to Boost Unions Advances in U.S. House

[I]  U.S. to Seek Trade Pact With Kenya

[I]  Americans Joining Workforce at Record Rate

 

BUSINESS LINE

[I]  Working on FRDI Bill, but can’t commit to timeline: FM

[I]  Finance ministry expects at least 80% of taxpayers to move to new tax regime

[I]  Consumer sentiment in India is worsening to almost five-year

[I]  ‘$5-b defence exports by 2024’

 

ECONOMIC TIMES

[I]  Women CEOs make 45% less than male peers

[I]  5L Indian credit cards on sale on the dark web

[I]  Indian consumers’ mood is getting worse

[I]  Bonds to beat swaps as ECB-like move boosts debt charm

[I]  GST compensation fund likely to fall short by Rs 25,000 cr in current fiscal: ICRA

[I]  India not negotiating comprehensive FTA with US currently: Piyush Goyal

[I]  FPIs opting not to file tax returns in India may need to cough up more

 

BUSINESS STANDARD

[I]  FPIs may face challenges related to withholding tax on dividend income

[I]  Govt to reintroduce FRDI Bill, no timeline yet: FM Nirmala Sitharaman

[I]  Price rise in food and other items flagged by RBI in inflation outlook

[I]  Days ahead of trade talks, US unhappy with cess on medical devices

[I]  Consumers' mood is worsening to 5-year low, slack building: Surveys

[I]  RBI move to boost short duration funds, soften borrowing costs for firms

 

Best Regards, ARBIND
08 Feb 2020