The Lastest Macroeconomic News
28.12.2017 15:51 World`s Richest Accumulated US$1 Trillion in 2017
World`s richest people nearly quadrupled their wealth reaching US$1 trillion in 2017, as the soaring stock markets aided the process, a new report indicates. Per the Bloomberg Billionaires Index, Amazon`s founder, Jeff Bezos added the most, US$34.2 billion this year replacing the richest person, Microsoft Corp. co-founder Bill Gates as world`s richest person in October, raising his "net worth" to US$99.6bn. Facebook Inc. co-founder Mark Zuckerberg gained US$22.6 billion, a 45 percent hike. He also announced plans to sell 18 percent of his stake in the giant, as part of his philanthropy project, as he intends to give away a majority of nearly US$72.6 billion fortune. Together, the world`s five richest people – Bezos, Gates, Buffett, Amancio Ortega, the owner of Zara, and Facebook`s Zuckerberg – hold US$425bn of assets, an amount equal to one-sixth of the UK`s GDP.
25.12.2017 19:04 India GDP to Grow 7.5% in 2018
Indian economy is expected to witness sharp recovery in the January-March quarter and its GDP growth likely to be around 7.5% for 2018, a report said. According to Japanese financial services major Nomura`s Composite Leading Index, some growth consolidation is likely in the Q4 (October-December), followed by a sharp recovery in Q1 (January-March) 2018 due to ongoing remonetization and improving global demand, PTI reported. "We remain bullish on the growth outlook. We expect GDP growth to rise to 6.7% year-on-year in Q4 from 6.3% in Q3, followed by a stronger rebound to 7.5% in 2018," Nomura said in a research note. The report further noted that a tightening of monetary policy is likely owing to inflationary pressures and higher oil prices. Moreover, the minutes of the December 6 monetary policy committee meeting suggest that even as most members saw upside risks to inflation, weak growth concerns have held them back.
22.12.2017 14:29 The World Economy in 2018
All major macroeconomic indicators – growth, unemployment, and inflation – suggest that 2017 will be the American economy`s best year in a decade. And the global economy is enjoying broad, synchronized growth beyond what anyone expected. The question now is whether this strong performance will continue in 2018. The answer, of course, will depend on monetary, fiscal, trade, and related policies in the United States and around the world. And yet it is hard to predict what policy proposals will emerge in 2018. There are relatively new heads of state in the US, France, and the United Kingdom; German leaders still have not formed a governing coalition since the general election in September; and the US Federal Reserve has a new chair awaiting confirmation. Moreover, major changes in important developing economies such as Argentina, Saudi Arabia, and Brazil have made the future outlook even murkier. Still, we should hope for the best.
18.12.2017 22:27 Global Growth to Soften in 2018
Global growth next year is expected to be 3.5%, just above the average for the post-financial crisis era but slightly down from 3.6% in 2017. The three main factors that drove the acceleration in growth in 2017 are now expected to fade, according to Qatar National Bank report. In 2017, accommodative global monetary policy, sustained high growth in China and lower oil prices kept the wind in the sails of the global economy. In 2018, the positive effects of all of these drivers are likely to soften, QNB noted in its weekly `economic commentary`, Saturday, ThePeninsula.com reported. First, accommodative global monetary policy is likely to be scaled back in 2018, even if inflation does not pick up as expected. Unemployment in a number of major economies is expected to fall below the targeted levels of their central banks. The unemployment rate in advanced economies in 2018 is expected to fall to its lowest rate since 1980. This has already prompted the world`s largest central banks to announce plans to reduce the level of monetary accommodation.
14.12.2017 21:34 Global Economy Set to Grow 3.2 Percent in 2018, IHS Markit Says
The global economy will expand 3.2 percent in 2018, matching the rate of growth achieved in 2017 and marking the first time since 2011 that global growth topped 3 percent, according to an annual forecast released today by business information provider IHS Markit. “The global economy finally broke through the doldrums in 2017 and the stage is set for continued solid growth in 2018,” said Nariman Behravesh, chief economist at IHS Markit. “We expect continuing expansion in the U.S. and emerging markets to offset plateauing in the Eurozone and Japan. While economic risks remain, most are low-level threats to the overall picture for 2018.” The global growth forecast is part of Behravesh`s annual Top 10 Economic Predictions, which were announced today.
11.12.2017 23:56 Weapons sales in 2016 exceeded the total GDP of all but 26 of the world`s nations
In 2016 the world`s 100 largest arms manufacturers sold $374.8bn of weapons and military services, according to the latest report by the Stockholm International Peace Research Institute (SIPRI). The 2016 figure represents a 1.9 percent increase compared with 2015, and is the first year of growth in Top 100 arms sales after five consecutive years of decline. According to the report, sales from US firms rose four percent in 2016 to $217.2bn, accounting for 57.9% of the overall total. Lockheed Martin, the world`s largest arms producer, increased its arms sales by 10.7% to $40.8bn, driven largely by deliveries of its F-35 fighter jet.
08.12.2017 13:16 China`s debt levels pose stability risk, says IMF
Fears that China risks being the cause of a fresh global financial crisis have been highlighted by the International Monetary Fund in a hard-hitting warning about the growing debt-dependency of the world`s second biggest economy. The IMF`s health check of China`s financial system found that credit was high by international levels, that personal debt had increased in the past five years, and that the pressure to maintain the country`s rapid growth had bred an unwillingness to let struggling firms fail. While praising China`s president, Xi Jinping, for his commitment to improving financial security, the IMF said reforms by Beijing in recent years had not gone far enough.
07.12.2017 14:26 IATA: 1% of world GDP to be spent on air transport next year
With rising air passenger numbers, as much as 1 percent of the global GDP - translating into USD 861 billion - is projected to be spent on air transport in 2018, according to IATA. The global airlines grouping also said that economic development worldwide is getting a significant boost from air transport. "New destinations are forecast to rise next year, with frequencies up too; both boosting consumer benefits. We expect 1 percent of world GDP to be spent on air transport in 2018, totalling USD 861 billion," IATA said. The International Air Transport Association (IATA) represents around 275 airlines comprising 83 percent of global air traffic.
04.12.2017 15:12 U.S. helps drive global economy higher
Believe it or not, the U.S. is in its ninth consecutive year of economic expansion. In a healthy economy, gross domestic product, or GDP, growth rate is around 3-3.5 percent. GDP is the total dollar value of goods and services produced by a country and is the key indicator of its economic health. But therein lies the rub. Though the current expansion is the third longest since World War II, it is also the slowest, with an annual rate of growth averaging a paltry 2.1 percent. In 2016, economic growth was 1.5 percent. In the first quarter of this year, the growth rate was even lower at just 1.2 percent. But in the past eight months, the U.S. economy has finally gained traction. Led by improvements in consumer spending and a surge in business investment of factories, machinery and equipment, economic growth has averaged 3.05 percent. The national unemployment rate is at 4.1 percent, a 17-year low. The Consumer Confidence Index, a key measure of optimism on the state of the U.S. economy, was just reported at 129.5, reflecting a recent level of consumer optimism not seen since November 2000. The index has a benchmark of 100. Anything above 100 indicates optimism on jobs and income by consumers, who ultimately will spend money and stimulate economic growth.
30.11.2017 22:54 U.S. third-quarter economic growth fastest in three years
The U.S. economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, buoyed by robust business spending on equipment and an accumulation of inventories. Gross domestic product expanded at a 3.3 percent annual rate last quarter also boosted by a rebound in government investment, the Commerce Department said in its second GDP estimate on Wednesday. That was the fastest pace since the third quarter of 2014 and a pickup from the second quarter`s 3.1 percent rate. The economy was previously reported to have grown at a 3.0 percent pace in the July-September period. It was the first time since 2014 that the economy experienced growth of 3 percent or more for two straight quarters. The growth pace, however, likely exaggerates the health of the economy as inventories, goods yet to be sold, accounted for nearly a quarter of GDP growth. Excluding inventory investment, the economy grew at a 2.5 percent rate. When measured from the income side, output also expanded at a 2.5 percent rate.
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