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  #41  
Old 13-01-2020, 13:05
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13.01. UK industrial production drops 1.2% in November

According to the UK Office for National Statistics, industrial production in the country in November fell by 1.2% compared to October. In annual terms, industrial production decreased by 1.6%.

Fresh data were worse than analysts' forecasts. In particular, experts predicted that industrial production in the reporting month decreased by 0.1% on a monthly basis, and on an annual basis – decreased by 1.4%.
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  #42  
Old 14-01-2020, 15:49
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14.01. US consumer prices increase by 2.3% in December

According to the US Labor Department, consumer prices in December rose 2.3% year-on-year; on a monthly basis, inflation was 0.2%. The annual indicator coincided with the analysts’ forecast, and the monthly indicator was expected at the November level of 0.3%. In November, consumer price growth accelerated by 2.1%.

Core inflation (excluding food and energy prices) in December year on year amounted to 2.3%, which coincided with analysts' forecasts. On monthly terms, a deflation of 0.1% was recorded.

This data may allow the Federal Reserve to keep interest rates unchanged for at least this year.
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  #43  
Old 15-01-2020, 16:01
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15.01. Eurozone industrial production rose 0.2% in November

According to Eurostat data, Eurozone industrial production rose in November for the first time in three months.

Industrial production rose 0.2% in November on a monthly basis, while the October figure fell -0.9%. Nevertheless, the current indicator was still worse than analysts' forecasts, expecting growth of 0.3%.

Production of capital goods rose by 1.2% and energy by 0.8%, while production of intermediate goods fell by 0.5%, non-durable consumer goods by 0.7% and durable consumer goods by 0.8%.

On an annualized basis, industrial production fell by -1.5% in November against a fall of -2.6% in October. Experts forecasted a decline of -1%.

In all 28 countries of the European Union, industrial production dropped -0.1% in monthly terms and by -1.3% in annual terms.
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  #44  
Old 16-01-2020, 15:13
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16.01. U.S. and China sign phase one of trade deal

The ceremony of signing the agreement on the first phase of the trade dispute between the US and China took place last night. US President Donald Trump and Vice Premier of the State Council of China Liu He met at the White House in Washington.

The heads of states noted that trade negotiations were tough, but honest. At the meeting, a letter by Chinese President Xi Jinping was presented, in which it was noted that this agreement «is useful for China, the United States and the whole world».

The first phase of the deal suggests that China will increase US imports of at least $200 billion during two years. In exchange for this, the States will slightly reduce some duties and will not introduce additional measures in relation to China. However, the full range of duties on Chinese goods will not be canceled in the first phase, and the further fate of the tariffs will be discussed at the negotiations on the second stage of the trade deal.

Despite the fact that this agreement did not solve the key problems in trade relations between the US and China, it significantly reduced the degree of tension in world markets.
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  #45  
Old 17-01-2020, 14:31
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17.01. China’s GDP grows at slowest pace in 29 years

According to the official forecast of the National Bureau of Statistics of China, GDP growth in the IV quarter of 2019 amounted to 6.0% in annual terms, which coincided with analysts' expectations and the previous value of the indicator for the III quarter. The gross domestic product of China in 2019 amounted to 99,086 trillion yuan ($14.4 trillion).

Experts note that the growth rate of the second largest economy in the world continues to be kept near a minimum for almost 30 years while the country’s birth rate fell to a record low. The reason for this was sluggish demand at home and abroad, as well as pressure in the trade from the United States.

For the whole of 2019, the Chinese economy grew by 6.1%, a minimum of 29 years. A year earlier, GDP growth was 6.6%. However, the current indicator is still within the range set by the government at 6-6.5%.
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  #46  
Old 20-01-2020, 15:43
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20.01. Oil jumped to a maximum in more than a week amid closure of fields in Libya

The price of oil today rose to more than a weekly maximum after the shutdown in two large fields in Libya, which could drastically reduce supplies from an OPEC member country.

Brent futures rose 1.23% to $65.65, previously reaching $66.00 per barrel, the peak since January 9. Futures for WTI crude oil rose 1.11% to $59.50 a barrel.

Before, the Libyan National Oil Corporation (NOC) reported that two large oil fields in the south-west of the country began to suspend operations after the forces of the Libyan National Army blocked the pipeline. If export from Libya is suspended for a long period, oil production may slow down to 0.8 million barrels per day. Recently, Libyan production was at 1.2 million barrels per day.
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  #47  
Old 21-01-2020, 15:08
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21.01. Global stocks fall amid fears of new virus in China

Chinese and European stocks show a decline amid concerns about the spread of a new coronavirus in China. The virus, which broke out at the beginning of the year in the Chinese city of Wuhan, has already spread to many cities of the country and claimed the lives of several people.

The Shanghai Composite index fell 1.4%, hitting its lowest level for the year, while the blue-chip CSI300 index fell 1.7% to a two-week low. Both benchmarks lost all the growth caused earlier by the signing of the first phase trade agreement between the US and China. In particular, shares of airlines, movie theater operators and casinos fell. At the same time, the quotes of drug manufacturers increased.

European stocks are also getting cheaper. The Stoxx Europe 600 Index fell 0.75%. Shares of LVMH Moet Hennessy Louis Vuitton SE fell 2.7%, Burberry Group – 3.43%, and Compagnie Financiere Richemont shares fell 3.4%.
Chinese President XI Jinping said that the authorities intend to make containment of the epidemic a top priority, which drew the attention of investors to the seriousness of the crisis situation.
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  #48  
Old 22-01-2020, 15:52
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22.01. US intends to cut a middle-class tax

During an interview with The Wall Street Journal at the World Economic Forum in Davos, U.S. President Donald Trump said his administration is working on a middle-class tax cut proposal that will come into effect if he is reelected and Republicans gain full control of Congress.

Thus the president declined to provide any details but said that the plan will be announced in 90 days. “We are going to lower taxes for the middle class, very much,” Trump said in his speech.

In 2018, Trump had already promised to lower taxes for the middle class by 10% shortly before the midterm elections in 2018, but this plan was never implemented. Last year, similar promises also took place.
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  #49  
Old 23-01-2020, 16:11
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23.01. ECB holds rates unchanged

Today, the European Central Bank (ECB) held a meeting, following which the regulator left key interest rates at the same levels, and began reviewing its strategy for the first time since 2003.

The ECB kept the interest rate on loans at zero, the deposit rate was left at -0.5% per annum, and the margin rate – at 0.25% per annum. Central Bank officials noted that the ECB's key interest rates will remain at their current or lower levels until inflation approaches the regulator's target level (just below 2%).

The ECB also announced the continuation of net asset purchases under the QE program, resumed from November 1. The asset purchase volume is € 20 billion per month.

At a press conference held by ECB President C. Lagarde after the meeting, the first revision of the European regulator’s strategy since 2003 was announced. The review will continue throughout most of the year and will cover a wide range of issues, from inflation targets to digital money and combating climate change.
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  #50  
Old 24-01-2020, 15:36
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24.01. Eurozone business activity index unchanged in January

According to preliminary data from the Markit Economics Research Organization, the composite index of business activity in industry and services (PMI) of 19 Eurozone countries in January remained at the mark 50.9 points. The indicator coincided with the data for December and turned out to be worse than analysts' forecasts (growth to 51.2 points).

Despite the decline, the indicator remains slightly above level 50, which separates the expansion from the reduction.

IHS Markit Associate Director Andrew Harker said that recent data suggests that the eurozone economy again failed to capture an increase in growth. The manufacturing PMI was 47.8 and has remained below 50 for the 12-th consecutive month, although it has grown compared with 46.3 in December and well above the 46.8 forecast.
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  #51  
Old 27-01-2020, 15:51
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27.01. Experts: China's GDP growth in I quarter may slow down below 6% due to the outbreak of pneumonia

Experts note that due to the outbreak of pneumonia in China, the growth rate of the Chinese economy may slow down below 6% in the first quarter of 2020. The risk of a slowdown in GDP growth is observed amid the expected fall in consumer spending due to the current situation in the country.

The Chinese authorities in the past couple of years have relied on the development of the consumer sector, hoping that it will become the main engine of economic recovery. However, in the context of the rapidly spreading epidemic of the deadly virus, Chinese people refrain from visiting shops and public places.

Many key segments of the service sector, such as theaters, museums, and exhibitions that can attract many customers during the New Year's Eve on the Lunar calendar, have almost stopped working. In addition, in many cities, local authorities decided to suspend the operation of urban and suburban transport.

«The PRC’s economy had difficulties even before the outbreak of pneumonia, and such a large-scale crisis in the healthcare sector poses a threat of a more significant weakening of growth,» said economist Chen Gong. The expert believes that the current epidemic may cost China more than 40 billion yuan ($5.77 billion), which will take away about 1 percentage point from the country's GDP growth in 2020.
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  #52  
Old Yesterday, 15:50
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28.01. OPEC wants to extend production cuts until June due to virus in China

OPEC representatives said the organization is ready to extend the current decline in oil production until June, if the spread of the new coronavirus significantly affects the demand for oil in China. At the same time, the possibility of increasing the volume of production reduction is considered.

The sharp drop in oil prices observed recently worries OPEC officials. Representatives of many participating countries have already begun to consider their own options for resolving the situation and have intensified their internal discussion of how best to respond to falling prices.

At the same time, experts predict a longer extension of measures to reduce global oil production. The possibility of extending the agreement until the end of 2020 is not excluded.
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  #53  
Old Today, 16:07
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29.01. Germany raises 2020 growth forecast slightly to 1.1%

The German government raised its forecast for GDP growth for 2020 and promised to create all conditions for the influx of investments into the country in order to maintain the competitiveness of Europe’s largest economy.

According to the forecast, this year German GDP growth will amount to 1.1%. Such expectations coincided with forecasts of the International Monetary Fund, presented last week.

It is noted that last year, the German economy grew by only 0.6%, at the lowest rate since 2013. Experts note a significant slowdown in the country's economic development compared to a 1.5% rise in 2018. The reason for this was a slowdown in the global economy, trade tensions and uncertainty regarding Brexit.

Germany predicts high consumer spending and export growth, while trade is still a serious risk due to the potential imposition of U.S. duties on European cars. The German government also outlined a spending plan that would allocate more than €160 billion by 2023 in the areas of digital infrastructure and transport.
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