January 8, 2024
United States:
Fed Pivot Will Dominate Year of Rate Cuts
The coming 12 months are shaping up as the year of the interest-rate cut.
After racing ahead with the most aggressive tightening campaign in decades during 2022 and 2023, central banks around the world are poised to begin easing monetary policy as inflation continues to retreat.
Europe:
German Factory Orders Rose Less Than Expected in November
German factory orders rose much less than anticipated in November, a discouraging sign for Europe’s largest economy that is relying on its outsized manufacturing base to regain growth.
Monday’s data showed a 0.3% increase in demand — falling short of analysts’ expectations of a 1.1% gain. The uptick from October — which saw a 3.8% drop — was due to large orders, the statistics office said.
Asia:
India’s Exports May Take a $30 Billion Hit on Red Sea Threats
India may see around $30 billion shaved off its total exports in the current fiscal year, as threats to cargo vessels in the Red Sea lead to a surge in container shipping rates and prompt exporters to hold back on shipments.
The initial assessment, conducted by the Research and Information System for Developing Countries, a New Delhi-based thinktank, would mean a 6.7% drop in Indian exports, based on last fiscal year’s $451 billion total.
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