The COVID-19 pandemic has had a significant impact on the Indian economy, as detailed by the Financial Times in an article covering the country’s response to the challenges posed by the pandemic. Want MetalMiner directly in your inbox? Sign up for weekly, monthly or quarterly updates now. Q2 contractions for India, other large economies India’s […]
Category: Macroeconomics
China may be doing the heavy lifting for metals price support — but the legs are looking shaky
True to form, if not to scale, Beijing resorted to infrastructure spending this quarter to support the economy as it sought to pull the country out of government-imposed lockdowns in the first quarter.
‘A crisis like no other’: IMF revises 2020 global growth forecast down to -4.9%
The International Monetary Fund’s (IMF) most recently updated global growth forecast is gloomier than the last. The IMF forecast global growth of -4.9% for 2020, down from the -3.0% forecast previously released in April.
Fed: U.S. industrial production rises 1.4% in May as automakers restart production
While positive coronavirus cases are on the rise in several parts of the country, industrial production bounced back in May after posting the largest monthly drop in the history of the Federal Reserve’s industrial production index in April.
OECD forecasts dismal times ahead for the U.K. economy
Having topped the European league tables with the highest number of infections and deaths due to the coronavirus pandemic, the U.K. looks set to top the recession league table, according to a recent report by the Organization for Economic Cooperation and Development (OECD).
This Morning in Metals: Federal Reserve maintains federal funds rate at 0-0.25%
This morning in metals news, the Federal Reserve on Wednesday opted to maintain the federal fund interest rate at 0-0.25%, the Producer Price Index for final demand rose 0.4% in May and Chinese rebar futures fell Thursday.
Greater than 6% growth could prove difficult for China to achieve ever again
Can China ever record economic growth greater than 6%? We don’t know, but if I were a betting man I’d say not. After contracting some 6.8% in the first quarter of this year, estimates vary with respect to what China’s GDP growth will be for 2020 in total. CRU expects between 2-3%, according to a […]
Economists debate whether inflation will follow the pandemic
Economists and parts of the media are openly debating whether the massive financial support that is being injected into the economy and the resulting unprecedented levels of debt governments are taking on will fuel inflation down the line.
Europe is beating the virus … now it faces the economy
France, heartbeat of the European social ideal, is facing an existential crisis caused by the impact of the lockdown of its economy. Nowhere is that more evident than in the Grand Est region of northeastern France, termed the heart of the country’s auto industry, according to the Financial Times.
This Morning in Metals: EIA estimates fuel inventory to build by 11.5M b/d in Q2
This morning in metals news, the Energy Information Administration (EIA) released fuel inventory build projections for Q2, Mexico is preparing to ease its coronavirus restrictions and the U.S. recently announced a move targeting China’s Huawei’s.