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Analysis: In India, muddled leadership leaves economy adrift
"Dear God," wrote economist Rajeev Malik as he called on the Almighty to help India's "rudderless" government in a biting critique that underscored a growing frustration at home and abroad with the stewardship of Asia's third-largest economy.
Writing in India's Business Standard newspaper, the well-respected Malik echoed the exasperation of Indian and foreign business groups pressing for the government to swiftly implement major economic reforms and formulate a coherent strategy to deal with its mounting problems.
Another newspaper said India could be heading to a Greek-style crisis.
Prime Minister Manmohan Singh's Congress Party blames unreliable allies in his coalition government for blocking major reforms aimed at opening up the economy to much-needed foreign investment and tackling ...
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Today`s FOMC Meeting Minutes outline…
Throughout the FOMC minutes meeting, participants have attested once again that the overall recovery tempo of the superpower is on a right gradual and constant pace with better labor conditions along with a stable enhanced demand while that prices pressures remain subdued, yet once more rates will stay exceptionally low at least through late 2014 to support the ongoing recovery.
In fact the world`s leading economy is gaining strength steadily, which was witnessed clearly since last year second half and mainly fourth quarter till this day and accordingly the FOMC members attested and proclaimed once again that the economy is "expanding moderately" with overall sectors activities gaining momentum including the labor market.
However the FOMC members confirmed today that in case that some ...
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Pound`s focus on United Kingdom Labor Sector, Inflation Report
The focus shifts from Greece and the political tension to the United Kingdom today, where the royal economy will provide markets will data regarding the performance of the labor sector amid the current economic situation and the spending cuts adopted by the British government, which attempts to trim the huge deficit the nation handles.
The performance of the labor sector is not expected to improve in April, where the claimant count rate, which measures the number of people claiming unemployment benefits in the royal economy, could have expanded in the month to 5.0% from the previous of 4.9%, as additional five thousand Britons could have applied for benefits in the related month.
Other bearish signs will be provided by the ILO unemployment report, where the joblessness in the United ...
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Mixed U.S business conditions…
Several key data were reported today on the U.S soil; watching on one hand retail sales rising in April at the slowest pace of the year while on the other hand manufacturing expanded cheerfully further in the New York region above the market projections and the country`s cost of living came in unchanged and as already projected in April.
In fact starting with the retail sales of the superpower of April we see the advanced retail sales for that period coming in at 0.1 percent as expected; lower than the prior revised reading of 0.7 percent from 0.8 percent, while that the retail sales less autos also plummeted gloomily to 0.1 percent from 0.8 percent; this time slightly below the market forecasts of 0.2 percent.
This phenomenon is caused mainly by the warm weather witnessed that period ...
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Another mixed week for the superpower…
Ahead of the U.S elections we watch another mixed week be drown regarding the current economical conjuncture of the world`s leading economy with a worsened and widened trade deficit along with better labor and confidence data, yet the recovery is on a slow gradual pace and accordingly a full efficient healing is still far from being witnessed.
In fact throughout the week we watched mixed sentiments getting spread as on one hand the superpower`s trade gap widened more than forecasted on higher imports and on the other hand the country`s jobless claims cheerfully and unexpectedly declined faintly to confirm once again that the labor conditions are improving gradually but remain far from a full recovery and that the gap between imports and exports continue on being immense.
Actually the U.S ...
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U.S producer price plunge in April and Canada`s jobless levels rose faintly…
For the first time in four month we watch the superpower`s wholesale prices fall in April, which is mainly resulted by the recent slight plunge of fuel costs, yet as an overall portrait price pressures remain around stable levels and continue on being well subdued while that the country`s territorial neighbor; Canada, reports a slight higher jobless level.
In fact the U.S Labor Department showed today that the country`s producer price index fell 0.2 percent from a prior neutral reading of 0.0 percent; lower than the projected reading of 0.0 percent as a result mainly of the recent decline in fuel prices, while that the Core PPI came in lower as forecasted at 0.2 percent from 0.3 percent for the same period.
And accordingly this suggests lower final products being offered to the American ...
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The Sterling Pound Drops against the U.S. Dollar ahead of the BoE Rate Decision
With the Bank of England rate decision is just around the corner, the British Royal Currency declined against the low yielding U.S. dollar, on mixed sentiment and thoughts regarding what the Bank of England might do now as the royal economy officially slipped into recession and as inflation is still skyrocketing as well.
The Monetary Policy Committee is projected to leave rates unchanged at 0.5% and the asset purchases program steady at 325 billion pound as the bank still attempts to balance between rising inflation and weakening growth, noting that further cut in the rates is highly unexpected this meeting or this year in general as price pressures prevents policy makers from taking further actions in favor of growth.
The sterling pound declines on slight possibility some of the nine ...
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Euro dips but market positioning may lend support
(Reuters) - The euro eased on Tuesday but stayed above the previous day's three-month low, with market positioning seen offering the currency some support even as worries over political uncertainty in Greece clouded its outlook.
The single currency dipped 0.1 percent from late U.S. trade on Monday to $1.3043, but stayed well above Monday's trough near $1.2955, its lowest level since late January.
The euro had initially come under pressure on Monday after the outcome of elections in Greece and France cast doubt on the ability to push through austerity plans regarded as key to tackling the euro zone debt crisis.
"This seems to me like a pretty serious situation," said Satoshi Okagawa, senior global markets analyst at Sumitomo Mitsui Banking Corp. in Singapore, referring to the election ...
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A busy mixed week for the superpower
Multiple key data and reports from the key sectors and activities were released this week in the superpower all in all confirming one clear scheme; the world's leading economy is expanding only moderately, watching a gradual recovery taking place successfully but remains insufficient to suppress the jobless levels to boost growth.
It is no surprise that the Federal Open Market Committee decided as accustomed and as already forecasted to keep the federal funds target rate intact at its historical low of 0.00 percent to 0.25 percent, and attesting once again that the country's economic momentum during this past period was "expanding moderately".
Having in mind that several times before we have watched the FOMC members pledge to keep exceptionally low rates through at least late 2014; the ...
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