Economy

Weakest eurozone economies on long road to recovery

Prime minister Mariano Rajoy has made it easier for Spanish firms to sack employees. Photograph: Albert Gea/Reuters Jean-Claude Juncker’s hailing of Europe’s economic recovery came in terms that would have been unimaginable at the height of the eurozone debt crisis in 2010. Back then, the focus of concern was on a handful of countries that ultimately required bailouts – Greece, Portugal and Ireland ... Read More »

China looks to be slowing again as domestic economy runs out of puff

China’s economy looks to pulling back into the slow lane after a range of data has shown a broad loss of momentum in domestic demand. Key points: Electricity, steel and cement production slowed in August Front-loaded infrastructure spending from earlier in the year slows rapidly Cooling retail sales centre on sectors linked to the property cycle The key monthly readings ... Read More »

Zombie companies haunt the Canadian economy

e Toronto Stock Exchange and TSX Venture Exchange that he said collectively had negative working capital of $2-billion. Mr. Simon followed up by identifying an additional 512 non-mining companies that together were in the hole – having negative working capital – of an additional $2.1-billion. Zombies haunt the Canadian economy because they drain resources from productive firms, says Glen Hodgson, ... Read More »

The economy is not strong, wages remain weak, and rates will stay on hold

The annual growth rate is still well below par, despite what Scott Morrison says. If Treasurer Scott Morrison really thinks the latest report on the health of the Australian economy represents a “strong set of numbers”, it will be interesting to see what sort of adjectives he comes up with to describe them when they really are strong. The economy is not ... Read More »

UK economy loses momentum as fears mount about cost of Brexit, find latest surveys

The weaker growth trend in services was most evident in consumer-facing sectors such as restaurants, cinemas, gyms and hairdressers The UK economy is losing momentum as fears mount about Brexit, according to the latest round of industrial surveys. The Purchasing Managers’ Index for services in August came in at 53.2, down from 53.8 in July. Any figure above 50 signals expansion, but the ... Read More »

5.7% GDP growth in Q1 matter of concern, says Arun Jaitley

Finance minster Arun Jaitley on Thursday attributed the lower GDP numbers to pre-GST destocking of goods and expressed hope that the economy will grow at 7 per cent, saying manufacturing has bottomed out. He further said that improvement in the global economy and good monsoon will aid GDP growth in the coming quarters which ought to be better if the country is ... Read More »

Indian mindset for ownership of Air India, in theory all open, says aviation minister

Civil aviation minister Ashok Gajapathi Raju on Thursday said the “Indian mindset” is to keep the ownership of Air India within the country but “theoretically everything is open”, including allowing foreign bidders. His comments assume significance as it indicates that the government might tweak the Foreign Direct Investment (FDI) norms with respect to Air India — the loss- making national ... Read More »

Experts Views On GDP Numbers In June Quarter

Mumbai: India’s economy grew a much slower-than-expected 5.7 percent in the three months through June from a year earlier, down from a provisional 6.1 percent in the previous quarter, government data showed on Thursday. Analysts polled by Reuters had forecast annual growth of 6.6 percent in the quarter. COMMENTS: ABHISHEK UPADHYAY, ECONOMIST, ICICI SECURITIES PRIMARY DEALERSHIP LTD, MUMBAI “The outturn ... Read More »

99% Of Banned 1000, 500 Rupee Notes Returned, Says RBI

The Reserve Bank of India (RBI) in its annual report released today revealed that about 99 per cent of the banned 500- and 1,000-rupee currency notes returned. According to RBI estimates, a total of Rs. 15.28 lakh crore in banned 500- and 1,000-rupee currency notes were returned by June 30, 2017, out of the estimated Rs. 15.44 lakh crore in ... Read More »

India’s June Quarter GDP Growth Seen At 6%: HSBC

New Delhi: India’s economic growth is likely to remain “soft” and the GDP is expected to grow by 6 per cent in April-June, down from 6.1 per cent in the preceding quarter, according to a report by global financial services major HSBC. Higher private consumption and government spending is likely to be “dulled” by weak investment and exports growth over ... Read More »