Latest News: Page 63

Oil prices rise amid expectations of OPEC production cuts

28

Dec

Oil prices rise amid expectations of OPEC production cuts

Oil prices hovered near their highest since mid-2015, underpinned by a deal between the Organization of the Petroleum Exporting Countries (OPEC) and [...]

Stable economic growth due to investment-consumption factors

28

Dec

Stable economic growth due to investment-consumption factors

"One thing that we cannot deny is that the stable growth is attributed to the biggest contribution from the consumption sector of 53.8 percent and [...]

Stable economic growth due to investment-consumption factors. `One thing that we cannot deny is that the stable growth is attributed to the biggest contribution from the consumption sector of 53.8 percent and investment at 31.6 percent,` said MPR Deputy Chairman Taufik Kurniawan in Jakarta on Tuesday.According to the politician from the National Mandate Party, these two things were the biggest contributors to growth in 2016.However, he continued, at the same time the tightening and reduction in government spending this year will have an impact on the 2017 growth target.He also reminded that looking at the global economic trend, China and the United States are both considered to be in the process of revising their respective economic policies. `China and the US are also experiencing a movement to revise economic policies that at any time can affect the domestic economy, particularly the rupiah exchange rate,` he said.Previously, Bank Mandiri Chief Economist Anton Gunawan judged that the Standard and Poors (S&P) rating agency should already have rewarded Indonesia with an investment grade rating, but it was hampered by internal mechanisms at that New York-based agency. `S&P is always trying to add assessment factors that sometimes appear, such as political problems, that ultimately prevent them from being increased. So the problem is more with S&P,` he said in Jakarta on Thursday (Dec. 22).Another important thing is a guarantee of the security and order of a country.
Editor: Ade Marboen
http://www.antaranews.com/berita/603784/pertumbuhan-ekonomi-stabil-karena-faktor-investasi-konsumsi

23

Dec

2016 Tea Closing Auction

The event was quite lively, since it was a closing auction for the 2016 tea season. The auction room was decorated properly and even featured [...]

U.S. third-quarter economic growth revised up to 3.5%

23

Dec

U.S. third-quarter economic growth revised up to 3.5%

Real gross domestic product (GDP) advanced at an annual rate of 3.5 percent in the third quarter of this year, the fastest quarterly growth since [...]

U.S. third-quarter economic growth revised up to 3.5%. Real gross domestic product (GDP) advanced at an annual rate of 3.5 percent in the third quarter of this year, the fastest quarterly growth since 2014. The growth rate was revised up from the second estimate of 3.2 percent. In the second quarter, the economy grew by 1.4 percent.`In this third estimate for the third quarter, nonresidential fixed investment, personal consumption expenditures (PCE), and state and local government spending were revised up from their previous estimates,` Xinhua reported the Commerce Department as saying.Consumer spending, which accounts for about 70 percent of the U.S. economy, increased 3.0 percent in the third quarter, stronger than the previously reported 2.8 percent increase, but moderated from a 4.3 percent surge in the second quarter.Nonresidential fixed investment rose 1.4 percent in the third quarter, faster than a 1.0 percent increase in the second quarter. It contributed 0.18 percentage point to economic growth in the third quarter.The solid economic expansion, coupled with improvement in labor market and inflation conditions, encouraged the U.S. Federal Reserve to raise interest rates this month after a near one-year pause.Fed officials projected that the U.S. economy will grow 1.9 percent this year and 2.1 percent next year, both up by 0.1 percentage point from their September forecast.With the election of Donald Trump, U.S. economic policies are likely to see significant changes, which could have substantial impact on the U.S. and global economies.Despite the uncertainty over the president-elect's policies, markets now expect tax cuts and increased government spending from the new administration, which could push up inflation and longer-term interest rates in the United States.Fed officials are now seen hiking interest rates three times next year, compared with only twice in 2017 in their September projection.   (A026)
Editor: Unggul Tri Ratomo
http://www.antaranews.com/berita/603071/pertumbuhan-ekonomi-as-kuartal-ketiga-dirivisi-naik-jadi-35-persen

23

Dec

Oil Rises on Strong Economic Data

Gross domestic product (GDP) grew at an annual rate of 3.5 percent in the third quarter of this year, the fastest quarterly growth since 2014, [...]

Oil Rises on Strong Economic Data. Gross domestic product (GDP) grew at an annual rate of 3.5 percent in the third quarter of this year, the fastest quarterly growth since 2014, according to the third estimate released by the Commerce Department on Thursday. The growth pace was revised up from the second estimate of 3.2 percent, and also beat market consensus. In a separate report, the department announced Thursday that new orders for manufactured durable goods in November decreased by 11 billion U.S. dollars or 4.6 percent to 228.2 billion dollars, exceeding market expectations. Analysts said the better-than-expected durable goods orders indicated that some of the oil-related headwinds for manufacturers were starting to wane. The U.S. benchmark West Texas Intermediate (WTI) crude futures for February delivery rose 0.46 dollars to settle at 52.95 dollars a barrel on the New York Mercantile Exchange.  Meanwhile, the global benchmark Brent crude for February delivery increased by 0.59 dollars to close at 55.05 dollars a barrel on the London ICE Futures Exchange, Xinhua reported.  (A026)
Editor: Suryanto
http://www.antaranews.com/berita/603073/harga-minyak-naik-disokong-data-ekonomi

US dollar slips despite upbeat economic data

22

Dec

US dollar slips despite upbeat economic data

U.S. existing-home sales climbed 0.7 percent to a seasonally adjusted annual rate of 5.61 million units in November, from a downwardly revised 5.57 [...]

US dollar slips despite upbeat economic data. U.S. existing-home sales climbed 0.7 percent to a seasonally adjusted annual rate of 5.61 million units in November, from a downwardly revised 5.57 million in October, beating market consensus of 5.535 million units.  The dollar index, which measures the greenback against six major peers, was down on Wednesday after posting gains in the past two sessions. The index was down 0.26 percent at 103.020 in late trading.  In late New York trading, the euro rose to 1.0428 dollars from 1.0392 dollars, and the British pound decreased to 1.2343 dollars from 1.2361 dollars. The Australian dollar increased to 0.7304 dollar from 0.7255 dollar.  The U.S. dollar bought 117.55 Japanese yen, lower than 117.71 yen of the previous session. The U.S. dollar was down to 1.0261 Swiss francs from 1.0286 francs, and it decreased to 1.3336 Canadian dollars from 1.3379 Canadian dollars.  (A026) 
Editor: Unggul Tri Ratomo
http://www.antaranews.com/berita/602877/dolar-as-melemah-meski-data-ekonomi-positif

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