European markets eke gains after Spain’s Socialists win snap election

European stocks closed a touch higher on Monday, after weak euro zone data exacerbated fears over the outlook for the global economy. The pan-European Stoxx 600 ended .06 percent just above the flatline on Monday with sectors pointing in opposite directions. Official data published Monday showed euro zone economic sentiment slipped for the 10th consecutive month to its lowest level in more than two years in April. The agency is giving more time for Rome’s populist government to implement policie


European stocks closed a touch higher on Monday, after weak euro zone data exacerbated fears over the outlook for the global economy. The pan-European Stoxx 600 ended .06 percent just above the flatline on Monday with sectors pointing in opposite directions. Official data published Monday showed euro zone economic sentiment slipped for the 10th consecutive month to its lowest level in more than two years in April. The agency is giving more time for Rome’s populist government to implement policie
European markets eke gains after Spain’s Socialists win snap election Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: chloe taylor sam meredith, chloe taylor, sam meredith
Keywords: news, cnbc, companies, socialists, markets, output, snap, global, spains, gains, stocks, slipped, european, fell, eke, shares, election, win, euro, sentiment, zone


European markets eke gains after Spain's Socialists win snap election

European stocks closed a touch higher on Monday, after weak euro zone data exacerbated fears over the outlook for the global economy.

The pan-European Stoxx 600 ended .06 percent just above the flatline on Monday with sectors pointing in opposite directions.

Official data published Monday showed euro zone economic sentiment slipped for the 10th consecutive month to its lowest level in more than two years in April. Sentiment in the bloc fell to 104.0 points in April, down from 105.6 in March, as managers in the industry and retail sector became more downbeat.

Oil and gas stocks struggled, down more than 1% shortlya fter 4p.m. London time. This comes after the oil price continued a slump after President Donald Trump claimed that he demanded OPEC raise output to soften the impact of U.S. sanctions against Iran.

Meanwhile, Europe’s banking index was one of the few sectoral gainers, up around 0.5% after S&P Global affirmed Italy’s credit rating at BBB on Friday. The agency is giving more time for Rome’s populist government to implement policies to address the country’s economic woes. Banco BPM and UBI Banca both finished up around 3.5 % on the news.

Looking at individual stocks, Germany’s Bayer slumped toward the bottom of the European benchmark. On Saturday, the firm’s supervisory board said it stands behind the management after a majority of shareholders refused to ratify management’s actions in 2018. Shares of Bayer slipped over 3.5%.

Sticking with Germany, chemicals maker Covestro said Monday core profit tumbled 58% over the first three months of 2019, with product prices under pressure as rivals bolster their output. Shares of the company fell more than 1.2%.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: chloe taylor sam meredith, chloe taylor, sam meredith
Keywords: news, cnbc, companies, socialists, markets, output, snap, global, spains, gains, stocks, slipped, european, fell, eke, shares, election, win, euro, sentiment, zone


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Saudi’s Falih sees no need for swift output action after Iran oil waivers end

“Inventories are actually continuing to rise despite what is happening in Venezuela and despite the tightening of sanctions on Iran. I don’t see the need to do anything immediately,” Falih said in Riyadh. “Our intent is to remain within our voluntary (OPEC) production limit,” Falih said, adding that Riyadh would “be responsive to our customers, especially those who have been under waivers and those whose waivers have been withdrawn.” He said Saudi Arabia’s oil production in May was pretty much s


“Inventories are actually continuing to rise despite what is happening in Venezuela and despite the tightening of sanctions on Iran. I don’t see the need to do anything immediately,” Falih said in Riyadh. “Our intent is to remain within our voluntary (OPEC) production limit,” Falih said, adding that Riyadh would “be responsive to our customers, especially those who have been under waivers and those whose waivers have been withdrawn.” He said Saudi Arabia’s oil production in May was pretty much s
Saudi’s Falih sees no need for swift output action after Iran oil waivers end Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: mladen antonov
Keywords: news, cnbc, companies, oil, falih, opec, saudis, iran, months, sanctions, output, need, production, saudi, level, sees, end, waivers, swift, million, tightening


Saudi's Falih sees no need for swift output action after Iran oil waivers end

“Inventories are actually continuing to rise despite what is happening in Venezuela and despite the tightening of sanctions on Iran. I don’t see the need to do anything immediately,” Falih said in Riyadh.

The United States has decided not to renew exemptions from sanctions against Iran granted last year to buyers of Iranian oil, taking a tougher line than expected.

“Our intent is to remain within our voluntary (OPEC) production limit,” Falih said, adding that Riyadh would “be responsive to our customers, especially those who have been under waivers and those whose waivers have been withdrawn.”

“We think there will be an uptick in real demand but certainly we are not going to be pre-emptive and increase production,” the minister said.

He said Saudi Arabia’s oil production in May was pretty much set with very little variation from the last couple of months. June crude allocations would be decided early next month, he said.

The kingdom’s exports in April will be below 7 million barrels per day (bpd), while production is around 9.8 million bpd, Saudi officials have said.

Under the OPEC-led deal on supply cuts, Saudi Arabia can pump up to 10.3 million bpd.

Falih said there would most likely be “some level of production management beyond June” by OPEC and its allies, but it was too early to predict the output targets now.

Oil prices rallied to their highest level since November after Washington announced all waivers on imports of sanctions-hit Iranian oil would end next week, pressuring importers to stop buying from Tehran and further tightening global supply.

Eight countries, including China and India, were granted waivers for six months, and several had expected those exemptions to be renewed.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: mladen antonov
Keywords: news, cnbc, companies, oil, falih, opec, saudis, iran, months, sanctions, output, need, production, saudi, level, sees, end, waivers, swift, million, tightening


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Trump’s crackdown on Iran leaves the oil market vulnerable to price spikes

In the Trump administration’s telling, its decision to cut off Iran’s oil exports in just over a week will have little impact on crude prices. This could nudge the oil market dangerously close to a negative supply shock,” Montreal-based macro research firm BCA Research said Monday. Oil prices surged to nearly six-month highs after the Trump administration said it will not extend sanctions waivers for several of Iran’s biggest oil customers. The move aims to shrink Iran’s oil shipments from rough


In the Trump administration’s telling, its decision to cut off Iran’s oil exports in just over a week will have little impact on crude prices. This could nudge the oil market dangerously close to a negative supply shock,” Montreal-based macro research firm BCA Research said Monday. Oil prices surged to nearly six-month highs after the Trump administration said it will not extend sanctions waivers for several of Iran’s biggest oil customers. The move aims to shrink Iran’s oil shipments from rough
Trump’s crackdown on Iran leaves the oil market vulnerable to price spikes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: tom dichristopher, pete marovich, bloomberg, getty images
Keywords: news, cnbc, companies, spikes, sanctions, iran, trump, opec, prices, vulnerable, say, market, shipments, irans, oil, output, crackdown, price, trumps, leaves


Trump's crackdown on Iran leaves the oil market vulnerable to price spikes

In the Trump administration’s telling, its decision to cut off Iran’s oil exports in just over a week will have little impact on crude prices. There’s enough supply to meet global demand, officials say, and the administration’s Middle East allies will ride to the rescue if the world finds itself short of fuel.

But outside the Oval Office, the outlook is not so rosy.

Analysts say President Donald Trump’s hardline approach injects new risks into a fragile market besieged by instability in key oil-producing nations. They say global crude supplies are already getting tight, and Trump’s surprise crackdown will leave the market with little cushion to address future disruptions.

“Oil production is being curtailed at a time when Venezuelan output is rapidly falling, conflict in Libya is reviving, and OPEC spare capacity remains tight. This could nudge the oil market dangerously close to a negative supply shock,” Montreal-based macro research firm BCA Research said Monday.

Oil prices surged to nearly six-month highs after the Trump administration said it will not extend sanctions waivers for several of Iran’s biggest oil customers. The exemptions allowed a handful of countries — including China and India — to import limited shipments of Iranian crude without triggering U.S. sanctions on Iran.

The move aims to shrink Iran’s oil shipments from roughly 1 million barrels per day to zero, though analysts expect some countries to defy the ultimatum.

Still, investment banks now expect Iranian shipments to fall by another several hundred thousand barrels per day, further tightening the market. This comes as Venezuela’s output craters under the weight of economic crisis and U.S. sanctions and a fresh round of deadly civil conflict rocks Libya.

The Trump administration says Saudi Arabia and the United Arab Emirates have agreed to fill the gap left by the Iranian barrels.

That suggests those OPEC members will soon hike production, reversing output cuts they implemented in January. OPEC and its oil market allies, including Russia, have been keeping about 1.2 million bpd off the market following a collapse in oil prices last year.

Saudi Arabia is already pumping about 500,000 bpd below its quota, giving the kingdom leeway to put more barrels on the market as shipments from Iran sink.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: tom dichristopher, pete marovich, bloomberg, getty images
Keywords: news, cnbc, companies, spikes, sanctions, iran, trump, opec, prices, vulnerable, say, market, shipments, irans, oil, output, crackdown, price, trumps, leaves


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US oil output slips in January, hits monthly record in December, new data show

U.S. oil production slipped in January, but fresh data from the Department of Energy show the nation’s output was much higher than originally reported at the end of last year. That was down from 11.961 million bpd in December, a new monthly record. November output was also revised higher, from 11.905 million bpd to 11.926 million bpd. The latest weekly figures show U.S. production holding steady around 12.1 million bpd — an all-time high if confirmed by EIA’s monthly reading. Production from Tex


U.S. oil production slipped in January, but fresh data from the Department of Energy show the nation’s output was much higher than originally reported at the end of last year. That was down from 11.961 million bpd in December, a new monthly record. November output was also revised higher, from 11.905 million bpd to 11.926 million bpd. The latest weekly figures show U.S. production holding steady around 12.1 million bpd — an all-time high if confirmed by EIA’s monthly reading. Production from Tex
US oil output slips in January, hits monthly record in December, new data show Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: tom dichristopher, john w schoen, nick oxford
Keywords: news, cnbc, companies, reading, slips, record, data, oil, million, bpd, hits, roughly, production, energy, texas, reported, output, monthly


US oil output slips in January, hits monthly record in December, new data show

U.S. oil production slipped in January, but fresh data from the Department of Energy show the nation’s output was much higher than originally reported at the end of last year.

American energy companies pumped 11.871 million barrels per day in January, according to the Energy Information Administration, the department’s statistics bureau. That was down from 11.961 million bpd in December, a new monthly record.

Last month, EIA reported that December’s production averaged 11.849 million bpd — a difference of 112,000 bpd from its second reading released on Friday. November output was also revised higher, from 11.905 million bpd to 11.926 million bpd.

EIA’s first reading for January was roughly in line with preliminary figures, which the administration releases weekly.

The latest weekly figures show U.S. production holding steady around 12.1 million bpd — an all-time high if confirmed by EIA’s monthly reading.

Bottlenecks in the biggest U.S. shale oil field, the Permian basin, are expected to keep a lid on growth through the first half of the year. There are not enough pipelines and other infrastructure in western Texas and southeastern New Mexico to accommodate the surge in crude oil from Permian fields.

Production from Texas dipped 1.3 percent in January to 4.832 million bpd, the EIA data show. New Mexico’s output was roughly flat at 815,000 bpd.

Compared with January 2018, production was up 24 percent in Texas and 50 percent in New Mexico.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: tom dichristopher, john w schoen, nick oxford
Keywords: news, cnbc, companies, reading, slips, record, data, oil, million, bpd, hits, roughly, production, energy, texas, reported, output, monthly


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Oil price rally will continue into the next two quarters despite dip, experts say

Oil prices slipped Wednesday morning, interrupting a recent rally with news of sharply increased U.S. crude stockpiles released by the American Petroleum Institute Tuesday night. But it’s a temporary blip in the broader outlook for the next two quarters of price growth, commodities experts told CNBC. “We expect the rally in Brent prices will continue over Q2-Q3 this year as the market tightens further on the back of OPEC production cuts and deteriorating output in Venezuela,” Edward Bell, direct


Oil prices slipped Wednesday morning, interrupting a recent rally with news of sharply increased U.S. crude stockpiles released by the American Petroleum Institute Tuesday night. But it’s a temporary blip in the broader outlook for the next two quarters of price growth, commodities experts told CNBC. “We expect the rally in Brent prices will continue over Q2-Q3 this year as the market tightens further on the back of OPEC production cuts and deteriorating output in Venezuela,” Edward Bell, direct
Oil price rally will continue into the next two quarters despite dip, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: natasha turak, benjamin lowy, getty images
Keywords: news, cnbc, companies, opec, rally, say, price, venezuela, deteriorating, energy, high, experts, production, output, prices, told, dip, continue, quarters, despite, oil


Oil price rally will continue into the next two quarters despite dip, experts say

Oil prices slipped Wednesday morning, interrupting a recent rally with news of sharply increased U.S. crude stockpiles released by the American Petroleum Institute Tuesday night.

But it’s a temporary blip in the broader outlook for the next two quarters of price growth, commodities experts told CNBC.

“We expect the rally in Brent prices will continue over Q2-Q3 this year as the market tightens further on the back of OPEC production cuts and deteriorating output in Venezuela,” Edward Bell, director of commodities research at Dubai-based Emirates NBD, told CNBC in an email Wednesday.

Robin Mills, CEO of Qamar Energy and a nonresident fellow at Columbia’s Center for Global Energy Policy, similarly sees prices remaining strong in the second quarter.

“Demand continues to be fairly good, OPEC+ compliance is high, the production cuts deal is planned to continue, output in Venezuela will keep deteriorating and Iranian exports are still under pressure,” he told CNBC, noting that Russian compliance with the output cut deal is also increasing.

“If prices go ‘too high’, likely the U.S. will grant more Iran waivers, and if they don’t then, with a lag, the Saudis will respond by increasing production within their overall cap.”


Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: natasha turak, benjamin lowy, getty images
Keywords: news, cnbc, companies, opec, rally, say, price, venezuela, deteriorating, energy, high, experts, production, output, prices, told, dip, continue, quarters, despite, oil


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OPEC cancels April meeting, leaving price-boosting oil output cuts in place through June

When they agreed to the new production cuts in December, the so-called OPEC+ alliance said it would assess the oil market in April, two months ahead of OPEC’s usual meeting in June. The latest round of cuts have helped boost oil prices from 18-month lows this year. Falih said Monday he does not expect OPEC to leave the oil market “unguided in the second half,” Dow Jones reported. Last month, the Saudi oil minister told CNBC he was leaning toward extending the production cuts through the end of t


When they agreed to the new production cuts in December, the so-called OPEC+ alliance said it would assess the oil market in April, two months ahead of OPEC’s usual meeting in June. The latest round of cuts have helped boost oil prices from 18-month lows this year. Falih said Monday he does not expect OPEC to leave the oil market “unguided in the second half,” Dow Jones reported. Last month, the Saudi oil minister told CNBC he was leaning toward extending the production cuts through the end of t
OPEC cancels April meeting, leaving price-boosting oil output cuts in place through June Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: tom dichristopher, faisal al nasser
Keywords: news, cnbc, companies, told, output, opec, priceboosting, saudi, place, group, meeting, oil, russia, production, leaving, cancels, cuts, prices, market


OPEC cancels April meeting, leaving price-boosting oil output cuts in place through June

When they agreed to the new production cuts in December, the so-called OPEC+ alliance said it would assess the oil market in April, two months ahead of OPEC’s usual meeting in June. But on Monday, a committee tasked with monitoring the deal said “market fundamentals are unlikely to materially change in the next two months.”

The Joint Ministerial Monitoring Committee said it will next meet in May, with the full group convening on June 25 to decide whether to extend the output cuts through the end of 2019.

The latest round of cuts have helped boost oil prices from 18-month lows this year. U.S. West Texas Intermediate crude has rallied 29 percent to more than $58 a barrel, while international benchmark Brent crude is up 25 percent to about $67 a barrel.

OPEC and its allies are aiming to keep 1.2 million barrels per day off the market, but some producers are still pumping above their quotas, including Russia, the world’s second biggest oil producer.

Russian Energy Minister Alexander Novak told CNBC on Sunday that Russia will hit its target in coming weeks. He said it is premature to to discuss whether the group should continue capping output beyond June.

Falih said Monday he does not expect OPEC to leave the oil market “unguided in the second half,” Dow Jones reported. Last month, the Saudi oil minister told CNBC he was leaning toward extending the production cuts through the end of the year.

Helima Croft, global head of commodity strategy at RBC Capital Markets, says the group is likely to continue cutting production throughout 2019. However, extending the cuts will highlight divisions between Russia, where partly private companies produce oil, and OPEC members like Saudi Arabia, where state-owned energy companies underwrite the nation’s budget.

“The Russian corporates hate shutting in production. They benefit from volume. The state takes the upside of higher prices, so for them, they don’t like the agreement,” she told CNBC’s “Worldwide Exchange” on Monday.

“But for Saudi Arabia and for the rest of the OPEC producers, current prices still remain below their fiscal breakevens, so they would like to see prices a bit higher from here.”


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: tom dichristopher, faisal al nasser
Keywords: news, cnbc, companies, told, output, opec, priceboosting, saudi, place, group, meeting, oil, russia, production, leaving, cancels, cuts, prices, market


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Russia will be fully compliant with OPEC-led supply cuts by April, energy minister says

Russian Energy Minister Alexander Novak said on Sunday that Moscow will be fully compliant with OPEC-led supply cuts over the coming weeks. “As for the target output level that forms part of the signed agreement, we plan to reach those figures by the end of March (or) beginning of April. The producers meet in mid-April to review their oil supply cut agreement, which is scheduled to last through the first-half of 2019. OPEC’s share is 800,000 b/d, to be delivered by 11 members — with Iran, Venezu


Russian Energy Minister Alexander Novak said on Sunday that Moscow will be fully compliant with OPEC-led supply cuts over the coming weeks. “As for the target output level that forms part of the signed agreement, we plan to reach those figures by the end of March (or) beginning of April. The producers meet in mid-April to review their oil supply cut agreement, which is scheduled to last through the first-half of 2019. OPEC’s share is 800,000 b/d, to be delivered by 11 members — with Iran, Venezu
Russia will be fully compliant with OPEC-led supply cuts by April, energy minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-17  Authors: sam meredith
Keywords: news, cnbc, companies, cuts, russia, opecled, months, supply, minister, compliant, extension, fully, agreement, target, discussed, output, novak, energy


Russia will be fully compliant with OPEC-led supply cuts by April, energy minister says

Russian Energy Minister Alexander Novak said on Sunday that Moscow will be fully compliant with OPEC-led supply cuts over the coming weeks.

“As far as the meeting is concerned we, of course, discussed the situation with the execution of the agreement (and) we stressed once again that Russia is discharging its obligations in accordance with the agreement to smoothly achieve the target output,” Novak told CNBC’s Dan Murphy in Baku, Azerbaijan, according to a translation.

“As for the target output level that forms part of the signed agreement, we plan to reach those figures by the end of March (or) beginning of April. This is earlier than in the same period two years ago by about one month.”

His comments come three months into a fresh round of production cuts from the so-called OPEC+ alliance. The producers meet in mid-April to review their oil supply cut agreement, which is scheduled to last through the first-half of 2019.

The Middle East-dominated group, alongside non-OPEC allies such as Russia, agreed to reduce output by 1.2 million barrels per day (b/d) for six months.

OPEC’s share is 800,000 b/d, to be delivered by 11 members — with Iran, Venezuela and Libya exempt from cuts.

When asked whether Russia would support an extension to the cuts, Novak replied: “It is a little premature to talk about this. The deal after all covers the first six months of the year so any extension will be discussed in May or June this year.”


Company: cnbc, Activity: cnbc, Date: 2019-03-17  Authors: sam meredith
Keywords: news, cnbc, companies, cuts, russia, opecled, months, supply, minister, compliant, extension, fully, agreement, target, discussed, output, novak, energy


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Japan’s central bank is now less optimistic about the economy

Factories across the globe slammed on the brakes last month as demand was hit by the U.S.-China trade war, slowing global growth and political uncertainty in Europe ahead of Britain’s departure from the European Union. The central bank also stuck to its view Japan’s economy is expanding moderately, but added a phrase that “exports and output have been affected by slowing overseas growth.” Factory output also posted the biggest decline in a year in that month, a sign slowing global demand was tak


Factories across the globe slammed on the brakes last month as demand was hit by the U.S.-China trade war, slowing global growth and political uncertainty in Europe ahead of Britain’s departure from the European Union. The central bank also stuck to its view Japan’s economy is expanding moderately, but added a phrase that “exports and output have been affected by slowing overseas growth.” Factory output also posted the biggest decline in a year in that month, a sign slowing global demand was tak
Japan’s central bank is now less optimistic about the economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: kim kyung-hoon
Keywords: news, cnbc, companies, output, slowing, boj, demand, bank, economy, central, japans, growth, overseas, view, exports, optimistic, global


Japan's central bank is now less optimistic about the economy

The Bank of Japan kept monetary policy steady on Friday but tempered its optimism that robust exports and factory output will underpin growth, a nod to heightened overseas risks that threaten to derail a fragile economic recovery.

Factories across the globe slammed on the brakes last month as demand was hit by the U.S.-China trade war, slowing global growth and political uncertainty in Europe ahead of Britain’s departure from the European Union.

In a nod to the increased risks, the BOJ cut its assessment on overseas economies to say they are showing signs of slowdown. It also revised down its view on exports and output.

“Exports have shown some weaknesses recently,” the central bank said in a statement on its policy decision, offering a bleaker view than in January when it said they were increasing as a trend.

At a two-day rate review ending on Friday, the BOJ maintained a pledge to guide short-term interest rates at minus 0.1 percent and 10-year government bond yields around zero percent. The widely expected decision was made by a 7-2 vote.

The central bank also stuck to its view Japan’s economy is expanding moderately, but added a phrase that “exports and output have been affected by slowing overseas growth.” In January, it said only that the economy was expanding moderately.

“The sharp deterioration in exports and industrial production should be a serious source of concern for the BOJ. I think the BOJ is doing some thought experiments about what they can do,” said Masayuki Kichikawa, chief macro strategist at Sumitomo Mitsui Asset Management.

“For now you can still make the argument that current economic weakness is temporary, but this is becoming an increasingly closer call. The next three months are critical.”

Japan’s exports posted their biggest decline in more than two years in January as China-bound shipments tumbled. Factory output also posted the biggest decline in a year in that month, a sign slowing global demand was taking a toll on Japan Inc.

Many in the BOJ expect Japan’s economy to emerge from the current soft patch in the second half of this year, when Beijing’s stimulus plans could lift Chinese demand and underpin global growth, sources have told Reuters.

But there is uncertainty on how quickly global demand could rebound, adding to woes for Japanese companies already feeling the pinch from slowing Chinese demand, analysts say.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: kim kyung-hoon
Keywords: news, cnbc, companies, output, slowing, boj, demand, bank, economy, central, japans, growth, overseas, view, exports, optimistic, global


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China’s industrial output grew at the slowest rate in 17 years

China’s industrial output grew 5.3 percent in the first two months of this year, the slowest pace of expansion in 17 years, official data showed on Thursday. But fixed-asset investment rose 6.1 percent, while retail sales rose 8.2 percent, both more than expected. Analysts polled by Reuters had predicted industrial output growth would slow to 5.5 percent in January-February from December’s 5.7 percent gain. Investment growth had been expected to edge up slightly to 6.0 percent, from 5.9 percent


China’s industrial output grew 5.3 percent in the first two months of this year, the slowest pace of expansion in 17 years, official data showed on Thursday. But fixed-asset investment rose 6.1 percent, while retail sales rose 8.2 percent, both more than expected. Analysts polled by Reuters had predicted industrial output growth would slow to 5.5 percent in January-February from December’s 5.7 percent gain. Investment growth had been expected to edge up slightly to 6.0 percent, from 5.9 percent
China’s industrial output grew at the slowest rate in 17 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: afp, getty images
Keywords: news, cnbc, companies, grew, investment, slowest, rose, expected, rate, sales, data, growth, rise, output, industrial, chinas, 17


China's industrial output grew at the slowest rate in 17 years

China’s industrial output grew 5.3 percent in the first two months of this year, the slowest pace of expansion in 17 years, official data showed on Thursday.

But fixed-asset investment rose 6.1 percent, while retail sales rose 8.2 percent, both more than expected.

Analysts polled by Reuters had predicted industrial output growth would slow to 5.5 percent in January-February from December’s 5.7 percent gain.

Investment growth had been expected to edge up slightly to 6.0 percent, from 5.9 percent in 2018.

Private-sector fixed-asset investment, which accounts for about 60 percent of overall investment in China, rose 7.5 percent in the same period, compared with an 8.7 percent rise in 2018, data from the National Bureau of Statistics showed.

Retail sales had been expected to rise 8.1 percent, easing marginally from December’s 8.2 percent pace.

China combines January and February activity data in an attempt to smooth distortions created by the long Lunar New Year holidays early each year, but some analysts say a clearer picture of the economy may not emerge first-quarter data is released in April.

China’s economic growth cooled to 6.6 percent last year, the slowest in nearly three decades, and it is expected to lose more momentum in the next few months.

Beijing is rolling out more support measures to avert a sharper slowdown, but many analysts do not expect activity to convincingly bottom out until summer.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: afp, getty images
Keywords: news, cnbc, companies, grew, investment, slowest, rose, expected, rate, sales, data, growth, rise, output, industrial, chinas, 17


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Asia markets: Brexit deal, pound and China economic data in focus

Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place. The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29. Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. The on-shore yuan traded


Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place. The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29. Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. The on-shore yuan traded
Asia markets: Brexit deal, pound and China economic data in focus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saheli roy choudhury, toshifumi kitamura, afp, getty images
Keywords: news, cnbc, companies, markets, fell, economic, china, asia, showed, midpoint, data, growth, brexit, focus, deal, traded, pound, output, industrial, chinas, index, yuan


Asia markets: Brexit deal, pound and China economic data in focus

Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place.

The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29.

In South Korea, the Kospi wavered between gains and losses to close up 0.34 percent at 2,155.68. Hong Kong’s Hang Seng Index was down 0.22 percent in afternoon trade.

Chinese mainland shares withdrew as the Shanghai composite fell 1.2 percent to 2,990.68 while the Shenzhen composite tumbled 2.311 percent.

Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. That further pointed to an economic slowdown in the world’s second-largest economy. But investments picked up pace as the government fast-tracked more road and rail projects, the news agency added.

Beijing has already pledged hundreds of billions of dollars in tax cuts and infrastructure spending to support the flagging economy.

The on-shore yuan traded at 6.7134 to the dollar at 2:44 p.m. HK/SIN after the People’s Bank of China set the day’s yuan midpoint at 6.7009. China’s central bank allows the currency exchange rate to rise or fall 2 percent from the midpoint rate.

Australia’s benchmark ASX 200 closed up 0.3 percent at 6,179.60.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saheli roy choudhury, toshifumi kitamura, afp, getty images
Keywords: news, cnbc, companies, markets, fell, economic, china, asia, showed, midpoint, data, growth, brexit, focus, deal, traded, pound, output, industrial, chinas, index, yuan


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