Economic growth index

(File image) Narendra Modi bows down in respect at the steps of the Parliament house upon his arrival to attend the BJP parliamentary party meeting in New Delhi on May 20, 2014. Modi fought back tears in an emotional first address to his party in India's Parliament house. REUTERS/Adnan Abidi (INDIA - Tags: POLITICS ELECTIONS) - GM1EA5K1GOD01 Eight years ago, on May 26, 2014, Narendra Modi was sworn-in as India’s Prime Minister after the Bharatiya Janata Party (BJP) won a landslide victory in the general elections. A few days prior to this, Modi, as Prime Minister-designate, went to Parliament and entered the Central Hall for the first time. In a now popular photograph, Modi is seen bowing and touching the stairs with his forehead leading to the Parliament building as a mark of respect to the “ temple of democracy ”. Modi’s ascension was an apt example of the power of a democracy. For his journey from Vadnagar, in current day Gujarat, to 7, Lok Kalyan Marg, in New Delhi, is proof … [Read more...] about Modi Govt @ 8 | Indian democracy needs a recast to boost economic reforms

The trend of Malaysia’s economic recovery is in a better direction, according to the chief statistician. (Photo by Low Yen Yeing/The Edge) - A + A KUALA LUMPUR (June 23): Malaysia’s economic recovery is in a better direction as the performance of the Leading Index (LI) for April 2022 eased to a better negative of 0.5% from a negative 1.4% in March 2022, said the Department of Statistics Malaysia (DOSM). The LI is a predictive tool used to anticipate economic upturns and downturns in an average of four to six months ahead. In a statement, the DOSM said the decrease in the LI was influenced mainly by a drop in the number of housing units approved caused by a decline in applications from developers during the said month. Based on a month-on-month comparison, LI slipped to a negative 0.5%, dragged by the number of housing units approved (-1.4%), the number of new companies registered (-0.5%), and the Bursa Malaysia Industrial Index (-0.3%). "Despite the … [Read more...] about DOSM: Leading Index signifies better economic recovery ahead

- A + A SINGAPORE/TOKYO (June 24): Global stocks and bonds headed for their first weekly gain in a month on Friday (June 24), with growth concerns tempered by hopes that sliding commodity prices can help brake runaway inflation. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.4% on Friday, helped by short sellers bailing out of Alibaba — which rose nearly 7% — amid hints that China's technology crackdown is abating. Japan's Nikkei rose 1.2% for a 2% weekly gain, while S&P 500 futures extended overnight gains by 0.76%. EuroSTOXX 50 futures rose 1% and FTSE futures rose 0.6%. The week has been marked by steep declines for commodities on worries that the world economy is looking shaky and that interest rate hikes will hurt growth — which in turn is also prompting traders to pare back some bets on the size of rate hikes. Copper, a bellwether of economic output with its wide range of industrial and construction uses, is heading for its steepest … [Read more...] about Bruised stocks find support as growth fears dent commodities

Any assessment of a government's performance invariably ends up at the economic door. At the start of Narendra Modi's ninth year as prime minister (PM), it is then pertinent to ask: how has the Indian economy fared so far? Making any straight comparisons between now and May 2014 would be unfair given the impact of the coronavirus pandemic. And even before the pandemic's end, Russia’s invasion of Ukraine upended all calculations again. "No one country today can plan for its recovery...because of these kinds of disturbances. Our recovery, not just of India, but for countries everywhere, will be severely hampered," Finance Minister Nirmala Sitharaman had noted in late February a day after Russia attacked Ukraine. But it must not be forgotten that India has attempted to kick-start its economic recovery multiple times in the last eight years. The first of these was soon after Modi took charge as PM in May 2014. Working in tandem with Raghuram Rajan at the Reserve Bank of … [Read more...] about Modi govt @ 8 | Pandemic hides economy’s past troubles as restart button hit again

Share to Twitter Share to Linkedin Topline As a growing number of investment banks and company chiefs warn that the likelihood of a recession is increasing, analysts at Morgan Stanley are telling clients that the stock market—despite reeling from a steep selloff in recent weeks—has plenty of room to fall before hitting levels consistent with recession-era lows, which would be especially bad for cyclical industries like travel and hospitality. Key Facts Despite major stock indexes plunging more than 20% below recent highs, markets are still only down by about 60% of the average drawdown compared with previous recessions (which denote two consecutive quarters of negative GDP growth), Morgan Stanley analysts told clients in a Tuesday note. As the Federal Reserve works to combat decades-high inflation with interest rate hikes that will likely stunt economic growth, a recession “is no longer just a tail risk,” analysts led by Michael Wilson wrote, … [Read more...] about Stock Market Could Crash Another 20% If U.S. Plunges Into Recession—These Industries Are Most At Risk

- A + A BENGALURU (June 23): The Indonesian rupiah held steady on Thursday (June 23) after the country's central bank left interest rates at a record low, while the Philippine peso hovered near its lowest level in 16 and a half years following a 25-basis-point rate hike. The rupiah was 0.2% higher, clinging to its earlier levels after Bank Indonesia (BI) acted as widely expected, balancing the need to support economic growth while maintaining stability in the currency. The BI's decision will put further pressure on the currency, said Fakhrul Fulvian, an economist at Trimegah Securities. "Stability in IDR (the rupiah) can only be achieved once BI clearly states its intention to start the tightening cycle seriously," he said. "Commodity windfall, rupiah's relative outperformance as well as a higher subsidy budget have provided room for BI to bide time and not join regional peers, for instance the Philippines, in tightening policy reins," said Radhika Rao, a senior … [Read more...] about Philippine peso hovers near 16-1/2-year low, Indonesian rupiah steady

- A + A NEW YORK/WASHINGTON (June 23): The European Central Bank’s Isabel Schnabel started it. In February, she flashed a chart showing how much the euro had weakened against the US dollar. Two months later, the Bank of Canada’s Tiff Macklem bemoaned the decline of the Canadian dollar. Swiss National Bank President Thomas Jordan suggested he’d like to see a stronger franc. The US dollar had been soaring — now up 7% for the year — as the Federal Reserve prepared to aggressively combat inflation. And so one by one, central bankers elsewhere, just as desperate to tame the relentless march of inflation in their own backyards, began sending not-so-subtle signals that they would for once welcome a stronger currency — which helps reduce the cost of imports by boosting buying power abroad. It’s a form of intervention so rare that their jawboning alone moved markets. On June 16, two of them upped the ante: Switzerland surprised traders with the first rate increase since … [Read more...] about Currency war breaks out in a world short on fixes for inflation

- A + A NEW YORK/BENGALURU (June 23): US stocks indexes were mixed on Thursday, as gains in healthcare and megacap technology stocks offset losses in energy and other economically sensitive sectors amid growing recession fears. Trading has remained volatile after a bruising selloff last week sparked by concerns that aggressive interest rate hikes to tame stubborn inflation could hurt economic growth and corporate profits. As government bond yields fell to two-week lows, rate-sensitive growth and technology stocks gained, with Apple Inc adding 0.8% and Microsoft Corp 0.9%. Sectors considered as safer bets in equities such as healthcare, consumer staples, real estate and utilities gained more than 1%, while energy stocks slid 4.7% as crude prices fell US$1 a barrel. "You're in the bottoming process and you'll get these little bounces," said Aaron Clark, portfolio manager at GW&K Investment Management. The benchmark S&P 500 has struggled to make a headway … [Read more...] about Wall Street struggles for direction on growing recession fears

File photo of BSE building at Dalal Street Mumbai via Wikimedia Commons Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The calendar year 2021 was among the most unforgettable years for the Indian equity market. The average BSE-listed stock rose 22 percent suggesting that a random basket of stocks could make investors richer than in most years over the past decade. That said, much of the exuberance of 2021 has met with the gloom of 2022. Sentiment on Dalal Street this year has been one of pervasive bearishness as aggressive interest rate hikes, slowing economic growth and soaring inflation have taken a toll on investors’ risk appetite. A geopolitical crisis in Europe with the invasion of Ukraine by Russia in late February has further compounded the macroeconomic headaches for investors. The Nifty 500 index, the broadest gauge … [Read more...] about Bears rule 2022 but in some nooks of Dalal Street bulls are rejoicing like it’s 2021

- A + A NEW YORK/BENGALURU (June 24): US stock index futures rose on Friday, as signs of slowing economic growth and falling commodity prices eased expectations over how high the Federal Reserve will raise interest rates to rein in inflation. Fears that aggressive tightening by major central banks will cause a sharp economic downturn have roiled financial markets this month, pushing the benchmark S&P 500 to confirm a bear market or a 20% fall from its recent peak. Data on Thursday showed US business activity slowed considerably in June, driving investors to scale back bets on where interest rates may peak and bring forward their views on the timing of rate cuts. Money markets see US interest rates peaking at around 3.4% by next March, far below the just above 4% priced for June 2023 before last Wednesday's Fed meeting. Copper prices on Friday were set for their biggest weekly fall in a year and other industrial metals also tumbled, while crude oil was headed … [Read more...] about Futures rise as investors scale back rate hike expectations