Japan’s weak Q4 GDP rebound poses challenge for BOJ’s exit path
Japan Q4 GDP expands annualised 0.6% vs f’cast +2.0%Drop in capex, inventory behind weaker-than-expected reboundData underscore view Japan making delayed recovery from pandemicOutlook on growth, wages key to how soon BOJ exits easy policyTOKYO, Feb 14 (Reuters) – Japan’s economy averted recession but rebounded much less than expected in the fourth quarter as business investment […]
Morning Bid: Powell confesses ‘This time it’s different’
A look at the day ahead in U.S. and global markets from Mike Dolan.Jerome Powell calmed the horses, a bit.In attempting to parse last week’s blockbuster January jobs report, the Federal Reserve Chair on Tuesday reprised his take from last Wednesday’s policy meeting – essentially that another couple of Fed rate hikes were probably needed […]
Global factory activity contracted again in January, highlighting fragile recovery
U.S. manufacturing sinks further in Jan, but few layoffs – ISMEuro zone factories have passed their trough in activity – PMIChina’s Jan factory activity shrinks – Caixin PMI surveyWASHINGTON/LONDON, Feb 1 (Reuters) – Manufacturing activity across the United States, Europe and Asia contracted again last month, underscoring the fragility of the global economic recovery, although […]
Veterans of 2011 U.S. debt-ceiling fight see tougher battle ahead
WASHINGTON, Jan 31 (Reuters) – A Democratic president. A new Republican majority in the U.S. House of Representatives pushing for sharp spending cuts. A rapidly growing pile of debt – and a showdown that threatens to throw the global economy into turmoil.Sound familiar?Those elements driving the debate over raising the federal government’s $31.4 trillion debt […]
China central bank to roll over lending tools to spur growth
BEIJING, Jan 29 (Reuters) – China’s central bank said on Sunday it will roll over three lending tools to increase support for targeted sectors of the economy.The People’s Bank of China will roll over a lending tool for supporting carbon emission reduction to the end of 2024, and extend a relending tool for promoting the […]
Hong Kong home prices drop 15.6% in 2022, snap 13 years of gain
Jan 27 (Reuters) – Private home prices in Hong Kong, one of the most unaffordable territories in the world, fell 15.6% in 2022 in the first annual drop since 2008, official data showed on Friday.Prices in the Asian financial hub were weighed down by a weak economic outlook and rising mortgage costs, following a COVID-19 […]
Japan warns of dire finances as BOJ struggles to contain yields
Japan’s finances intensified severity to unprecedented pointRounds of extra budget, stimulus measures aggravate financesPublic finance is the cornerstone of a country’s trust – finminEconomic revival comes first before fiscal reform in long runParliament debate begins, all eyes on new BOJ governor nomineeTOKYO, Jan 23 (Reuters) – Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi […]
China’s 2022 economic growth one of the worst on record, post-pandemic policy faces test
China Q4 GDP growth slows; 2022 growth one of worst on record2022 GDP grows 3.0%, far below official targetDec factory output, retail sales weak but beat expectationsPopulation shrinks for the first time since 1961Policymakers vow to step up support for economy in 2023BEIJING, Jan 17 (Reuters) – China’s economic growth in 2022 slumped to one […]
Household wealth optimism collapses, global survey shows
Jan 16 (Reuters) – Barely two in five people believe their families will be better off in the future, according to a regular global survey that also identified growing levels of distrust in institutions among low-income households.The Edelman Trust Barometer, which for over two decades has polled the attitudes of thousands of people, found that […]
IMF says fragmentation could cost global economy up to 7% of GDP
WASHINGTON, Jan 15 (Reuters) – A severe fragmentation of the global economy after decades of increasing economic integration could reduce global economic output by up to 7%, but the losses could reach 8-12% in some countries, if technology is also decoupled, the International Monetary Fund said in a new staff report.Tne IMF said even limited […]