Finance & Economy | News & Insights

Economic Pathway – September 2023

Published: September 20, 2023
Author: TEXTILE VALUE CHAIN

Key Highlights

Global

  • With growth and core inflation cooling, US Fed expected to be broadly done with rate hikes.
  • Dollar strength however resurfaced following healthy US macro data.
  • ECB’s revision to GDP growth and inflation signals a possible end to rate hikes.
  • Japan’s Q2 GDP growth revised lower; Inflation stays above BOJ target.
  • JPY depreciates sharply; JGB yields test BOJ’s new upper yield cap.

Domestic

  • Urban demand remains encouraging, rural demand shows recovery signs.
  • Core inflation eased to a 39-month low in August; Retail inflation stayed above the 6% mark.
  • Though food inflation moderated, prices of cereals and pulses continued to be elevated.
  • Corporate profitability improved in Q1 FY24 amid easing raw material costs.
  • Net sales saw muted growth owing to weak overseas demand and lower commodity prices.
  • Merchandise exports remained under pressure; Services exports held up well.

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