Markets & Industries
ADB worsens GDP growth forecast for developing Asia in 2023 to 4.7% - 09/20/2023
The Asian Development Bank (ADB) has downgraded its prediction for 2023 economic growth in rising Asia-Pacific nations from 4.8% to 4.7%. In a statement, the ADB stated that its forecast for GDP growth in the next year remained at 4.8%. In these states, consumer prices are anticipated to rise by 3.6% this year compared to the prior prediction of 4.2%, mainly caused by China's low inflation rate...
Venture capital investments in China lose over 30% - 09/19/2023
In the first half of this year, venture capital investment firms in China closed 3072 agreements worth $26.7 billion, according to research firm PitchBook, which was quoted by CNBC. This is a reduction of 31.4% from the same time previous year. Analysts predict that if these trends persist until the end of the year, venture capital investment in China might reach a record low not seen since 2016....
Societe Generale raises its year-end forecast for S&P 500 - 09/18/2023
The S&P 500 will be the "last one left standing" when the U.S. economy enters a recession in the middle of 2024, according to analysts. In light of sustained short-term optimism, Societe Generale analysts increased their forecast for the value of the S&P 500 at the end of the year from the previously anticipated 4,300 points to 4,750 points, MarketWatch reports. According to experts, market...
US mortgage demand at 27-year low due to high rates - 09/18/2023
According to MarketWatch, which cites data from the government-owned mortgage firm Freddie Mac, mortgage demand in the United States has reached a 27-year low amid ongoing rises in loan rates. Last week, the average annual interest rate for 30-year loans increased to 7.18% from 7.12% the previous week. In the prior year, it was 6.02%. 15-year loans currently have an average AIR of 6.51%...
Fitch raises gold price forecast for 2023 - 09/15/2023
Fitch raised its forecast for the price of gold to $1900 per troy ounce in 2023. According to a survey by the international rating agency Fitch Ratings, the price of gold will increase this year, while forecasts for the price of aluminum and zinc will decline and those for copper and nickel will remain the same. Fitch predicts that one troy ounce of gold will cost $ 1,900 in 2023 as opposed to...
Rystad: Total capacity of solar power plants in China will exceed 1 TW by 2027 - 09/13/2023
Rystad Energy forecasts that China's solar power plants (SPPs) would have an installed capacity of more than 500 GW by the end of 2023 and 1 TW by the end of 2026. In 2023, new capacity is anticipated to surpass 150 GW, up from the 87 GW installed in 2022. The estimate is 165 GW in 2024 and 170 GW in 2025. The overall solar energy capacity in China will so surpass 700 GW by 2024 and increase to...
JPMorgan Chase: Gold's share in investments hits 11-year high - 09/11/2023
Due to central banks actively buying precious metals, investments in gold attained their highest proportion in the total volume of investments made by market participants in 11 years, reads a report by JPMorgan Chase analysts. According to MarketWatch, analysts arrived at this statistic by dividing the price of gold coins and bars, as well as investments in exchange-traded funds that trade on the...
World food prices start declining after rising in July - 09/11/2023
Following a modest increase in July, global food prices dropped in August, according to the UN Food and Agriculture Organization (FAO). Last month, the FFPI food price index dropped to 121.4 points. The index was down 2.1% as compared to July. In August 2023, the FAO Food Price Index averaged 121.4 points, down 2.1% from July and up to 24% from the highs recorded in March 2022. The index's rise...
Analysts: Latin America will slow down GDP growth - 09/08/2023
According to an estimate by researchers in a Focus Economics regional analysis, the average economic growth rate for Latin American countries will be just 1.6% this year, which is half the pace expected in 2022. The economy of Latin America will grow at the slowest rates among all other developing nations. Focus Economics poll show that ineffective institutions, political unpredictability,...
U.S. economic activity shows growth in the second half of summer - 09/07/2023
According to the Beige Book, a summary of the Federal Reserve's (Fed) remarks on the nation's economic situation, the economic activity in the US increased moderately in July and August compared to the prior report, which covered the time period from May through July. The report states that "according to contacts from most districts, economic growth was moderate in July and August." The survey...
