MACRO ECONOMIC NEWS

FREAKY CRAZY DAYS ARE TAKING COLOURFUL SHADES. WISHING A VIBRANT WEEKEND AHEAD.

Macro Economic News 29 Feb 2020

African youth on life and work are confident of ‘my future is here’ as two-thirds of respondents to survey say this is the start of the “African Century”. Nigeria confirms first case of coronavirus in sub-Saharan Africa while health experts warn that the region is ill-equipped to deal with a potential pandemic. Federal Reserve Chairman Jerome Powell signalled the central bank was prepared to cut interest rates if needed to cushion the economy against the effects of a widening global slowdown. Official gauges of China’s factory and non-factory activity plunged in February as the nation’s economy struggled with the coronavirus epidemic although the outstanding amount of temporary money the Federal Reserve has added to the financial system fell by a notable amount this week. German inflation and jobless figures boost Eurozone despite companies, across globe, revealing stark initial effects. Indian economic growth slows, while Brazil is likely to cut 2020 GDP forecast and forecasters downgrading U.S. economic outlook, although Indian FinMin says that economy has bottomed out as 'steadiness' in economy, with Q3 GDP growth at 4.7%, is a good sign. US-India Business Council confirms about a larger trade deal between New Delhi and Washington to have better outcome.

 

FINANCIAL TIMES

[I]  Fed to ‘act as appropriate’ to support economy

[I]  Africa’s youth on life and work: ‘my future is here’

[I]  Nigeria confirms first case of coronavirus in sub-Saharan Africa

[I]  German inflation and jobless figures boost eurozone

[I]  Border red tape will mean 50,000 new form-fillers after Brexit

[I]  Saudis seek bigger oil cut as coronavirus slashes demand

[I]  EU seeks to tighten emission targets every 5 years

[I]  Companies reveal stark initial effects from coronavirus fallout

REUTERS

[I]  South Korea tells citizens to stay home at 'critical moment' in virus battle

[I]  Indian economic growth slows, with coronavirus impact to come

[I]  Global downturn looms as countries struggle to contain coronavirus outbreak

[I]  Vietnam February consumer price index rises 5.4% year-on-year: statistics office 

[I]  Switzerland bans all big events as virus fears mount

[I]  USTR vows to push for trade deals with Britain, EU; seeks reforms at WTO

[I]  Cooling consumer spending, inflation put spotlight on Fed amid coronavirus

BLOOMBERG 

[I]  U.S. Stocks Tumble 11% in Worst Week Since Crisis: Markets Wrap

[I]  Powell’s ‘Whatever It Takes’ Moment Is Here, But Will It Work?

[I]  China Posts Weakest Factory Activity on Record

[I]  Brazil Likely to Cut 2020 GDP Forecast Amid Coronavirus Weakness

[I]  Forecasters Downgrade U.S. Economic Outlook as Virus Spreads

[I]  SEC Quashes Dreams of Bitcoin ETF With Another Rejection

[I]  Charting the Global Economy: Virus Fears Rattle Sentiment

WALL STREET JOURNAL

[I]  Fed: Will ‘Act as Appropriate to Support the Economy’

[I]  China Purchasing Indexes Drop to Record Lows

[I]  Jitters About Market, Virus Followed January Bump in Income

[I]  Fed’s Bullard Open to Rate Cut, But Leans Against It

[I]  Fed’s Temporary Liquidity Sees Notable Declines This Week

BUSINESS LINE

[I]  Economy has bottomed out, says FinMin

[I]  One nation-one ration card in 20 States from June 1, says Paswan

[I]  ‘Better infrastructure must for farmers at markets’

[I]  What to watch: Auto sales: Will dull phase continue?

[I]  Corporate governance bar must be raised

[I]  The ‘personal’ angle to genetic data privacy

ECONOMIC TIMES

[I]  70:20:10 rule to counter a virus strike

[I]  What Sitharaman said about Q3 GDP numbers

[I]  GST: Method to claim Input Tax Credit answered

[I]  Forex reserve hits fresh record of $476.12 billion

[I]  Larger trade deal between New Delhi, Washington to have better outcome: US-India Business Council

[I]  With Q3 GDP growth at 4.7%, FM says 'steadiness' in economy is a good sign

[I]  Core sector grows by 2.2% in Jan as power generation picks up

BUSINESS STANDARD

[I]  GDP growth slows to nearly 7-year low of 4.7% in Q3 on weak manufacturing

[I]  Black Friday for markets: Sensex falls 1,448 points, Nifty drops 432 points

[I]  Indian aviation companies rejig routes as coronavirus scare shrinks the sky

[I]  India's construction sector witnesses sharper decline in third quarter

[I]  Economic tonic from Rajan: Fight virus first and worry about stimulus later

[I]  April-January fiscal deficit hits 128.5% of FY20 revised estimates

[I]  Global smartphone sales latest victim of Coronavirus outbreak: Report

Best Regards, ARBIND

29 Feb 2020