Eco Analysis - China's recovery is more gradual than expected (W. Yao)
■ China's food-fuelled inflation and housing-driven growth
China's February CPI increased more than expected by 3.2%yoy, but will most likely fall back again in March. Money and credit growth moderated in February but remained accommodative. Meanwhile, growth data for January and February combined were mixed. Industrial production disappointed, while fixed asset investment powered ahead, thanks to the incredibly buoyant property market. Retail sales weakened considerably, but the main cause was probably the laudable anti-corruption campaign waged by the new leaders. Overall, the data still suggest that the recovery is on track, albeit more gradual than initially anticipated.
Wei YAO
Sunday, March 10, 2013
China's ragtag shale army a long way from revolution
China's ragtag shale army a long way from revolution
By Chen Aizhu
BEIJING | Sun Mar 10, 2013 6:36pm EDT
(Reuters) - China's plans to unlock what could be the world's biggest shale gas reserves risk running further off track after 16 firms awarded exploration rights in the latest auction lacked one core skill - not one has drilled a gas well before.
http://www.reuters.com/article/2013/03/10/us-china-shale-idUSBRE9290GR20130310
By Chen Aizhu
BEIJING | Sun Mar 10, 2013 6:36pm EDT
(Reuters) - China's plans to unlock what could be the world's biggest shale gas reserves risk running further off track after 16 firms awarded exploration rights in the latest auction lacked one core skill - not one has drilled a gas well before.
http://www.reuters.com/article/2013/03/10/us-china-shale-idUSBRE9290GR20130310
Friday, March 8, 2013
Turkey: Signs of Life in IP
Turkey: Signs of Life in IP
January's industrial production was 2.1% y/y, slightly below the market and our expectations of 2.5%. On a seasonally and calendar adjusted basis, IP increased by 2.3% m/m, following a decline of 3.5% m/m in December. January industrial production index shows that CBRT's monetary easing has started to reflect on manufacturing activity. Strong January IP figure combined with robust credit growth, confidence indices and PMI, points that the pickup in the economic activity will continue in Q1.
January's industrial production was 2.1% y/y, slightly below the market and our expectations of 2.5%. On a seasonally and calendar adjusted basis, IP increased by 2.3% m/m, following a decline of 3.5% m/m in December. January industrial production index shows that CBRT's monetary easing has started to reflect on manufacturing activity. Strong January IP figure combined with robust credit growth, confidence indices and PMI, points that the pickup in the economic activity will continue in Q1.
Chile: All quite on the inflation front
Chile: All quite on the inflation front
Nader Nazmi - Market Economics
Latam Macro Snapshot | 08 Mar 2013 13:37 |
Consumer prices rose only 0.1% m/m in February, less than the consensus 0.3% m/m call and our own 0.2% m/m projection. Annual inflation dropped to 1.3% y/y, sinking further below the 2% floor of BCCh's target band (Chart 1).
Nader Nazmi - Market Economics
Latam Macro Snapshot | 08 Mar 2013 13:37 |
Consumer prices rose only 0.1% m/m in February, less than the consensus 0.3% m/m call and our own 0.2% m/m projection. Annual inflation dropped to 1.3% y/y, sinking further below the 2% floor of BCCh's target band (Chart 1).
Unemployment rate falls to lowest level since 2008
AMERICA'S COMEBACK
Unemployment rate falls to lowest level since 2008
By Annalyn Kurtz @CNNMoney March 8, 2013: 12:33 PM ET
NEW YORK (CNNMoney)
Hiring picked up in February, helping to bring the unemployment rate down to its lowest level since December 2008.
The U.S. economy added 236,000 jobs in February, according to a Labor Department report released Friday. That's much stronger growth than in January, when employers hired a revised 119,000 workers.
http://money.cnn.com/2013/03/08/news/economy/february-jobs-report/index.html
Unemployment rate falls to lowest level since 2008
By Annalyn Kurtz @CNNMoney March 8, 2013: 12:33 PM ET
NEW YORK (CNNMoney)
Hiring picked up in February, helping to bring the unemployment rate down to its lowest level since December 2008.
The U.S. economy added 236,000 jobs in February, according to a Labor Department report released Friday. That's much stronger growth than in January, when employers hired a revised 119,000 workers.
http://money.cnn.com/2013/03/08/news/economy/february-jobs-report/index.html
Can Natural Gas Become the New Gasoline?
Can Natural Gas Become the New Gasoline?
Published: Friday, 8 Mar 2013 | 11:27 AM ET
By: Javier E. David
Special to CNBC.com
Natural gas is abundant, clean and far cheaper than diesel. That has the U.S. transportation and auto industries looking for ways to kick their dependence on dirtier fossil fuels.
http://www.cnbc.com/id/100537924
Published: Friday, 8 Mar 2013 | 11:27 AM ET
By: Javier E. David
Special to CNBC.com
Natural gas is abundant, clean and far cheaper than diesel. That has the U.S. transportation and auto industries looking for ways to kick their dependence on dirtier fossil fuels.
http://www.cnbc.com/id/100537924
Analysis: Renewables turn utilities into dinosaurs of the energy world
Analysis: Renewables turn utilities into dinosaurs of the energy world
By Geert De Clercq
PARIS | Fri Mar 8, 2013 4:13am EST
(Reuters) - Every new solar panel installed on European rooftops chips away at power utilities' centralized production model. Unless they reinvent themselves soon, these giants risk becoming the dinosaurs of the energy market.
http://www.reuters.com/article/2013/03/08/us-utilities-threat-idUSBRE92709E20130308
By Geert De Clercq
PARIS | Fri Mar 8, 2013 4:13am EST
(Reuters) - Every new solar panel installed on European rooftops chips away at power utilities' centralized production model. Unless they reinvent themselves soon, these giants risk becoming the dinosaurs of the energy market.
http://www.reuters.com/article/2013/03/08/us-utilities-threat-idUSBRE92709E20130308
Thursday, March 7, 2013
Chile: Central Bank Governor Vergara flagged increased risks, due to faster-than-expected growth.
Chile
Central Bank Governor Vergara flagged increased risks, due to faster-than-expected growth.
Central Bank Governor Rodrigo Vergara said that domestic demand, driven by both strong consumer spending and large investments in the mining industry, has been the driver of Chile’s rapid growth. He noted that mining investments accounted for less than 15% of total investment in 2003, and now accounts for 25% of total investments. Mining output’s share of GDP is 15%, while copper accounts for 60.0% of exports.
Central Bank Governor Vergara flagged increased risks, due to faster-than-expected growth.
Central Bank Governor Rodrigo Vergara said that domestic demand, driven by both strong consumer spending and large investments in the mining industry, has been the driver of Chile’s rapid growth. He noted that mining investments accounted for less than 15% of total investment in 2003, and now accounts for 25% of total investments. Mining output’s share of GDP is 15%, while copper accounts for 60.0% of exports.
US Gas Exports Will Shake Up Global Market
US Gas Exports Will Shake Up Global Market
Published: Thursday, 7 Mar 2013 | 6:32 AM ET
By: Patti Domm
CNBC Executive News Editor
Despite objections, the U.S. is heading down the road to export natural gas, and that could ultimately help shake up world energy markets.
http://www.cnbc.com/id/100530615
Published: Thursday, 7 Mar 2013 | 6:32 AM ET
By: Patti Domm
CNBC Executive News Editor
Despite objections, the U.S. is heading down the road to export natural gas, and that could ultimately help shake up world energy markets.
http://www.cnbc.com/id/100530615
How the US Shale Gas Boom Could Derail China
How the US Shale Gas Boom Could Derail China
Published: Thursday, 7 Mar 2013 | 3:41 AM ET
By: Matt Clinch
News Assistant
With oil production at a twenty year high and predictions of a manufacturing renaissance for the U.S. economy, one of the world's largest investment banks has detailed how the "shale revolution" will negatively affect emerging markets such as China.
http://www.cnbc.com/id/100531212
Published: Thursday, 7 Mar 2013 | 3:41 AM ET
By: Matt Clinch
News Assistant
With oil production at a twenty year high and predictions of a manufacturing renaissance for the U.S. economy, one of the world's largest investment banks has detailed how the "shale revolution" will negatively affect emerging markets such as China.
http://www.cnbc.com/id/100531212
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