Word: gdp
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...good part of this liquidity is coming from foreign institutional investors that are keen to diversify into a fast-growing economy that still has relatively few big listed companies. With a healthy GDP growth rate of 6.7% in the last fiscal year, India remains an attractive destination for investment capital that was sidelined by the recession. Bankers are hoping the market will get a boost later this year from the anticipated IPOs of companies such as cable-TV service provider Digital Entertainment Network, which has exposure to increasingly wealthy Indian consumers. "We're waiting for consumption-oriented companies to list...
...blames India and other developing countries for being obstructionist and not doing their bit. In recent weeks, there has been a steady stream of Indian-generated reports bolstering India's assertions that it is unilaterally greening its act. A report released last week says India has consistently greened its GDP since the 1980s, with the energy intensity of India's GDP falling from 0.3 kgoe (kilogram-of-oil equivalent) per dollar of GDP in 1980 to 0.16 kgoe in 2004. This, it adds, is an achievement on par with über-green Germany and is bettered only by Japan...
...challenge, but there's mounting evidence that the controversial $787 billion stimulus bill is achieving one of its major goals: shortening the recession. Economists at Goldman Sachs say the bill, officially called the American Recovery and Reconstruction Act, has resulted in a 2% to 3% boost to annual GDP in the second and third quarters of this year, turning what could have been a worsening recession into potential growth. For President Barack Obama, whose poll numbers have dropped precipitously from around 65% to around 50% as Americans have become worried about government spending and health-care reform, that should...
...question on investors' minds is whether the recovery is for real. While China's GDP growth was better than expected, at 7.1% year on year in the six months to June, part of that expansion was fueled by an astounding 201% increase in bank lending. The central bank started tightening in July, when new loans totaled just $52 billion - down sharply from $224 billion in June. The August number may come in at an even lower $36 billion...
...Praising China's use of moral suasion to persuade the banks to cut back on lending instead of resorting to the blunt instrument of raising interest rates, ING sees GDP returning to its trend growth of 10% next year. The Shanghai index now "rests two standard deviations below the trend line that starts in early November 2008, which we consider strong support," says ING chief economist Tim Condon. "We do not expect the support to be broken...