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Forex Forum to Share, Discuss, Communicate and Trade Forex • Company News by ForexMart
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Economic News

PostPosted: Wed Sep 27, 2017 5:37 am
by Andrea ForexMart
NZ Business Confidence Index Plunged After General Election

After the general election in New Zealand, the business confidence in the country has declined to its two-year low which is caused by the fears of manufacturers for a downturn.

Before the voting on September 23, the confidence index fell to zero against 18.3 last month as mentioned by ANZ Bank New Zealand on Tuesday.

More than three months passed after the survey of manufacturing companies issued a pessimistic forecast for business conditions within next year, higher by 2 percent in the earlier poll.

Moreover, the sector has the tendency to cut down hiring while respondents are expecting for a lower salary.

Economic News

PostPosted: Thu Sep 28, 2017 9:05 am
by Andrea ForexMart
Qatar’s Imports Surged in August Despite of Sanctions

Imports of Qatar rose in value as it bounced off abruptly during the month of August compared to the earlier month as stated in the government data on Wednesday. This could mean that the economic impact of sanctions enforced by neighboring Arab nations is ebbing.

Previously imports dropped over a third in value after several countries including the United Arab Emirates, Saudi Arabia, Bahrain and Egypt which severed their diplomatic ties with Doha on June 5. However, this affected the shipping routes to Qatar as it closed the border of its country with Saudi Arabia where food and construction materials are being imported.

However, figures showed a sudden increase of 39.1 percent to 8.68 billion riyals or $2.38 billion last month as reported by the planning and statistics ministry. Although in contrast to the statistics from a year earlier, the imports were 7.8 percent lower exhibiting a big recovery compared to the levels for the month of June and July when it plunged greater than 35 percent last year.

Re: Company News by ForexMart

PostPosted: Mon Oct 02, 2017 7:54 am
by Andrea ForexMart
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Economic News

PostPosted: Tue Oct 03, 2017 9:03 am
by Andrea ForexMart
Asian Factories Improved Activity Before Shopping Season Begins

Large factories in Asia has been more active in September along with the rise in global growth with signs if a strong demand for manufactured goods which end the shopping season very well. Yet, some regional economies who are experiencing economic struggles keep the direction slightly bent as they need to implement softer monetary policy despite western countries have pushed back their stimulus.

The central bank of China has reduced the number of cash reserves for the first time since February 2016 which aims to make it more appealing for smaller lending companies and boost the stagnant private sector. The slowdown of their economy did not meet expectations even if they started the first half strongly. Although, they have plans of easing as they prepare ahead of the shopping season. This was supported by the official Purchasing Managers’ Index from China’s vast manufacturing sector whereby data shows a high demand in the previous month which have been the fastest rate since 2012.

However, the higher cost of raw materials has affected the performance of smaller companies which was exemplified in the separate private survey of factories indicating slowed growth for the month of September.

In Japan, the factory performance also accelerated at a quicker rate in four months because of strong demand in exports that affects the economic momentum despite the unchanged inflation rate. Moreover, the Bank of Japan reported that large manufacturers have gained more confidence in business situation over a decade, driven by the low value of yen and a strong global demand. Nevertheless, the BOJ plans to maintain their rates low.

Also, the Manufacturing business in South Korea grew at the fastest rate in less than two years.

Indonesia also demonstrated a rise in factory growth although at a slower rate and the production also declined. The country eased their interest rate twice this year hoping to improve the weak domestic consumption.

Yet, India cut its rates in August to stimulate growth and inflation.

Overall, it seems that these easing of the Asian nations is not really a major move but rather mere adjustments in policies compared to the Western countries as described by Rob Carnell, Asia’s head of research of ING.

Re: Company News by ForexMart

PostPosted: Wed Oct 04, 2017 4:52 am
by Andrea ForexMart
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Economic News

PostPosted: Thu Oct 05, 2017 9:31 am
by Andrea ForexMart
Russian Services Sector PMI Reached a Three-month High in Q3

The services sector in Russia rose at the fastest rate in three months to September amid higher demand in new orders and hiring according to the survey on Wednesday.

The Markit purchasing managers index (PMI) for the said sector increased to 55.2 in September from 54.2 in August. The figure stayed higher than the 50 mark which set apart increase from contraction since the second month of 2016. The survey showed a stronger output, new orders and high export demand boosted the manufacturing activity for the first time since August 2013.

Experts that derived the conclusion that both foreign and domestic clients pushed the high demand for new orders. At the same time, a good business environment contributed in improving the business confidence and adjust the anticipated output higher to an eight-month high.

The expansion of business since the end month of 2012 has been at the fastest rate that backed up the rise of employment growth. Moreover, the workforce has significantly increased at the swiftest rate since May 2013 as mentioned by an IHS Markit economist Sian Jones.