Russian Business Confidence Remains Steady in June 2017
Business confidence in Russia (ERUS) in June 2017 continued to be stable month-over-month and higher than it was last year during this time.
Business activity in Russia’s (ERUS) service sector continued to increase in June but at a slower pace than the previous month.
Manufacturing activity in Russia fell to 50.3 in June 2017 from 52.4 in May 2017.
Many macroeconomic indicators in Russia (ERUS) are showing signs of improvement in 2017.
The Russian ruble (ERUS) tends to move in line with crude oil prices (USO) (UCO).
Russia’s (ERUS) current account recorded a $0.3 billion gap in 2Q17 as compared to a $23.3 billion surplus in the previous quarter and a $2 billion surplus in the same period.
The consumer prices in Russia (ERUS) rose 4.4% on a year-over-year basis in June 2017 following a 4.1% rise in the previous month.
Improved industrial production and exports in Russia (RSX) have helped to lift the country’s economic activity in 2017.
Although Asian markets have outperformed most of the other regions this year, their performance over the past few years has remained sluggish overall.
Since Donald Trump took office, there has been a surge in business confidence on the hope that his new administration will cut corporate taxes.
Asian nations (AAXJ) are experiencing a continuation of the economic recovery that has been going on for a couple of quarters now.
Retail sales in China (FXI) rose 11% year-over-year (or YoY) in June 2017, compared to a 10.7% rise in May.
Slower overall economic activity in China (FXI) in June 2017 was mainly due to the weak performance of the country’s services sector.
Manufacturing activity in China expanded in June 2017 compared to its fall in May. Chinese manufacturing activity is showing a mixed outlook for economic growth in 2017.
The Chinese yuan (FXI) has surged to its highest level against the US dollar (SPY) in 2017 amid the mixed performances of its macroeconomic factors.
China’s (FXI) imports rose to $153.8 billion in June 2017, a 17.2% rise year-over-year (or YoY) and a 2% rise month-over-month.
Chinese (FXI) exports stood at $196.6 billion in June 2017, a rise of 11.3% year-over-year basis and a rise of 8.7% month-over-month.
Improved global (ACWI) economic growth has resulted in improved global trade, helping export-dependent economies’ (EWZ) (EWW) performances in 2017.
Inflation in China was on a steady rise in June 2017, in line with the market’s expectation. China’s (MCHI) consumer prices rose 1.5% year-over-year in June 2017.
China’s economy surprised the markets when it rose 6.9% year-over-year (or YoY) in 2Q17. This rise was the economy’s biggest in the last six consecutive quarters.