2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
Indian economic surge is set to end five-quarter decline
In the July-September quarter Indian economic surge managed to rebound from the slowest growth for three years. Apparently, demand picked up moderately because the effects from a shocking ban on high-value currency notes relieved, as a Reuters survey disclosed.
If it’s true, the data is going to be the fresh evidence of a broad-based world’s economic upturn throughout Asia.
India happened to be the world's fastest-ascending major economy of last year. However, already-slowing surge was suppressed by the sudden cash clampdown of 2016 imposed by Prime Minister Narendra Modi's government. The radical measure affected consumer spending.
In July, the Indian authorities rolled out a goods and services tax, which made sweeping changes to the way businesses across Asia's number three economy charge taxes. It delivered another blow to the Indian economy.
However, the Reuters survey of 52 financial experts over the last week revealed that GDP growth probably added to 6.4% from 2016 during the July-September quarter versus 5.7% in the previous period.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.