Wednesday, January 21, 2015

Brokerage Report: Macro-Economic and Other Domestic / International News
(i) India may see current account surplus after 7 years: Nomura
India may see achhe din on the capital account front with analysts predicting a surplus for the first time in more than seven years as falling crude oil prices and lesser gold imports would ease the pressure on the country's trade balances.
Photo: PTI
"Based on the current trends, we expect India's current account balance to turn positive for the fourth quarter of FY15,"  CAD was 2.1% of GDP in the quarter ended September 30, a fivequarter high, on slow exports growth and rise in imports owing to a rise in demand for gold. India had last seen a current account surplus of $4.2 billion (1.6% of GDP) in the fourth quarter of 2006-07.

(ii) India's growth to reach 6.3% in 2016 
UN report India will see a gradual growth acceleration with its GDP expected to reach 5.9% this year and 6.3%t in 2016, the UN said today while partly crediting the recovery to improved market sentiment after the new government took office and announced key reforms. "India's economy expanded by an estimated 5.4% in 2014, an improvement from growth of 5.0% recorded in 2013, but still significantly below the 8.0% pace of the pre-crisis period," said the United Nations World Economic Situation and Prospects 2015 (WESP).

(iii) China GDP Growth Stable In Q4
The Chinese economy expanded at a stable rate in the fourth quarter, defying expectations for a slowdown. GDP grew 7.3% in the fourth quarter from a year ago, same as in the third quarter. This was the weakest growth since the first quarter of 2009. However, the increase was stronger than the 7.2% rise forecast by
economists. QoQ, GDP rose by a seasonally adjusted 1.5%, slower than the 1.7% increase expected by economists. 
(iv) Japan Consumer Confidence Rises More Than Expected In December
Consumer confidence in Japan increased more than expected in December, figures from the Cabinet Office showed. The consumer confidence index rose to 38.8 in December from 37.7 in the previous month. Economists had forecast the index
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