MACRO ECONOMIC NEWS

HAPPINESS IS THE WAY, THE WAY TO CONTENTMENT; THIS WEEKEND. WISHING A JOYOUS WEEKEND AHEAD.

Macro Economic News 01 Feb 2020

 

Government forecast a pick up in economic growth to 6.0-6.5% in the next fiscal beginning April 1, in its annual economic statement presented on Friday, but warned of a widening fiscal deficit. Consumer spending and wage gains eased at the end of last year, signs the U.S. economy is returning to a more moderate pace of growth. The eurozone’s economy slowed sharply in 2019 as factories faltered amid weak overseas demand and its key automobile industry struggled to get to grips with a cooling market and the costs of developing a new generation of electric cars. OECD says that talks over global digital tax are back on track. Britain bows out of EU as Bank of England downgrades outlook while Colombia holds key rate as IMF sees growth outpacing peers. Economic survey of India highlights Government intention of aggressive disinvestment of CPSEs while expects growth to rebound to 6-6.5% in next fiscal, however, mentions funding $1.4-trillion NIP as a challenge.

 

FINANCIAL TIMES

[I]  Coronavirus cases in China exceed Sars as public anger rises 

[I]  US warns citizens not to travel to China after WHO declares global emergency 

[I]  Talks over global digital tax are back on track, says OECD

[I]  Tariffs dispute between US and France is ‘pushing countries to compromise’

[I]  Eurozone grows just 0.1 per cent as France and Italy shrink

[I]  Dilemma over stimulus for ECB after bloc falls below expectations at end of 2019

[I]  Britain bows out of EU as Bank of England downgrades outlook

 

REUTERS

[I]  India forecasts economic growth of 6-6.5% in 2020/21

[I]  U.S. ramps up anti-coronavirus measures at border as impact spreads

[I]  India's budget likely to increase spending to spur growth

[I]  Brexit at last: Britain leaves the EU as champagne corks fly

[I]  Asia gold demand slumps as coronavirus grips top consumer

[I]  Euro zone growth below expectations, inflation slows

[I]  U.S.-UK trade deal needs labour, climate protections, enforcement - U.S. lawmaker

[I]  Mexico aims to boost business with Brazil's 'very closed' economy

[I]  Venezuela to impose tax up to 25% on purchases in foreign currency

 

BLOOMBERG 

[I]  Charting the Economy: Global Growth Was Sputtering Before Virus

[I]  Record Losing Streaks, 99% Plunges Are Part of the Virus Market Fallout

[I]  Earnings Became an Afterthought in Stock Market Ruled by Fear

[I]  U.S. Manufacturing Titans Portend Gloom for Global Economy

[I]  ‘Black Swan’ Virus Outbreak Fears Send Oil Short-Selling Soaring

[I]  The Velocity of Risk Goes Viral in Financial Markets

[I]  Colombia Holds Key Rate as IMF Sees Growth Outpacing Peers

[I]  Sentiment Among U.S. Consumers Rises to an Eight-Month High

 

WALL STREET JOURNAL

[I]  U.S. Consumer Spending, Wage Gains Eased in Late 2019

[I]  Fed’s 2020 Rate Outlook Clouded by Framework Review

[I]  U.S. Removes Cosco Shipping Units From Blacklist

[I]  Tech Sector Fears Supply Delays as Effects of Virus Ripple Through China

[I]  Eurozone Growth Hits 6-Year Low as Key Automobile Industry Struggles

 

BUSINESS LINE

[I]  Survey trusts free markets to create wealth

[I]  Drug Price Control Order led medicines to become costlier: Economic Survey

[I]  Raising funds for infrastructure will be "challenge": Economic Survey

[I]  Economic Survey sets the tone for Budget 2020

[I]  Economic survey: Government eyes aggressive disinvestment of CPSEs

[I]  Economic Survey 2020: Growth to rebound to 6-6.5% in next fiscal

[I]  Funding $1.4-trillion NIP is a challenge: Economic Survey

 

ECONOMIC TIMES

[I]  Eco Survey finds what ails banks, suggests cure

[I]  The key that may unlock fiscal room for FM

[I]  Forex reserve hits fresh lifetime high of $466.69 billion

[I]  Thailand's sugar production to fall by 4 million tonnes

[I]  Push for micro-irrigation says Economic Survey

[I]  Economic Survey's GDP growth forecast for FY20 wide off projection

[I]  Blue economy comprises 4.1% of GDP, says Secretary of Earth Sciences

[I]  Highways sector needs Rs 19.63 lakh crore investment by 2024-25: Economic Survey

 

BUSINESS STANDARD

[I]  President Kovind makes pitch for swadeshi to build 'a better tomorrow'

[I]  Economic Survey: 'Counter-cyclical fiscal policy' to boost demand justified

[I]  Economic Survey links infrastructure with social reforms to boost growth

[I]  How long will it take to create trust that the Economic Survey argues for

[I]  Economic Survey makes a case for economic freedom; less govt interventions

[I]  Common man bears the cost of wilful default as promoters destroy wealth

 

Best Regards, ARBIND
01 Feb 2020