Friday, May 26 2017 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
Updated: 10 hours 16 min ago
The Spanish economy is growing and creating employment. During the next two years it is likely that just over 900,000 jobs will be created and that the unemployment rate will fall to around 15% by the end of 2018. However, certain risks have arisen.
Annualised growth of 2% last quarter, levels of confidence close to all-time highs, industrial production and exports on the rise, consumer indicators strong, unemployment rate falling for more than three years…
Weekly economic update focusing on the major economic indicators to be released the week of February 13, 2017
The global economy is gradually accelerating on the back of United States growth. Colombia GDP growth will rise from 1.9% in 2016 to 2.4% and 3.3% in 2017 and 2018. Investment will be decisive for reaching theses figures. The progressive reduction of inflation will allow BanRep to slash rates during 2017 and 2018.
OPEC output deal may have a limited impact on prices. Going forward, inventory correction and the lagged effect of CAPEX cuts should lead to higher prices. The recovery of U.S. shale production is expected to prevent a steep upturn in prices. Little to no upside from demand. Slow recovery and convergence to $60/bbl.
On February 7th, Mike Rogers, Republican congressman for Alabama, said he would submit a proposal for financing the wall between the United States and Mexico. Rogers said his bill would seek to pay for the wall by various means, one of which would be the application of a 2% tax on remittances to Latin America
Banxico is likely to retain a pre-emptive approach to anchor inflation expectations
In December 2016, the current credit balance of commercial banks to the private sector grew at a nominal annual rate of 15.3% (11.5% real), lower than the rate observed in November 2016 (17.1%)
After having fallen by more than 7% over the past two years, we expect GDP to grow by 0.9% in 2017 and 1.2% in 2018. The approval of a fiscal reform, lower inflation, declining interest rates, among other reasons, should pave the way for a gradual recovery. However, political tensions and failing to approve the needed social security reform could derail growth.
The economic recovery continues to be modest with the recent data leading our monthly GDP indicator to grow at 1.9% YoY in 4Q16. IP grew by 1.3% YoY in December in calendar adjusted terms, lower than the consensus of 2.3%.
Pro-regime forces took full control of Aleppo, while ISIS retook Palmyra. Russian military operations intensified during the month. Escalation between Russia and Ukraine. Iraqi security forces recaptured eastern Mosul. Escalation between Russia and Ukraine
Emerging Market (EMs) bank lending conditions worsened in 2016Q4. Funding conditions in EM deteriorated in 2016Q4 as a consequence of a tighter liquidity environment. International funding conditions deteriorated mostly in Turkey. The average funding rate of the CBRT increased sharply during the month (more than 200 bp).
The sale of housing maintains the moderation of growth of the last months. However, the determinants of demand remained robust, and so it seems that they will continue, after knowing the employment data and consumer confidence for the month of January. At the moment, the behavior of sales does not affect the construction activity that continues exhibiting a robust growth
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