Financial Communique » production

The growth of industrial production in Russia reached 7%

Viliyana Filipova — Sat, 15 May 2010 11:11:13 +0000

The growth of industrial production in Russia for the period January to April reached 6.9% yoy, Russian media reported on data from the Rosstat (Russian Statistical Service). Only in April from a year earlier growth in industry was 10.4 percent. On the other hand, for April to March, a drop in industrial production by 3,4%. The growth of industrial production in Russia for the first quarter amounted to 5.8% yoy in March but the figure was 5.7 percent. Gross Domestic Product (GDP) of Russia for the first quarter rose 4.5 percent on an annual basis. Among the leaders in growth industries is now the extraction of natural gas for April from a year earlier marks an increase of 27.5%. Significantly increased annually and the production of meat, fabrics, bags, plastics, furniture and some others. But gold production, metallurgy, machinery, trolley, sunflower oil, fell sharply. The financial crisis in Russia was less felt than ever and the Russian government did not got strong restrictions in the public expenses as the other countries.
For 2009, the decline in industrial production in Russia was 10.8 percent, a decline in GDP – 7.9 percent.

Production in the eurozone rose more than expected

Viliyana Filipova — Thu, 14 Jan 2010 17:05:14 +0000

Eurozone industrial production in November rose by 1.0% on a monthly basis and decreased by 7.1% yoy, with expectations for a rise of 0.7%, respectively, and decreased by 8.5%. Production for October was down by 0.3 percent revised on a monthly basis and by 10.9% per year compared to previous data for -0.1% respectively. and -11.1%. Faster rise to expectations due to growth in manufacturing in all sub-sectors without energy. Annual decrease was even the least since October, but still negative for the 19th consecutive month. Thus improving the progression index coincides with the studies on the activity of the industrial sector, which is significant in recent months.
However, maintaining levels of negative annual highlights the slow steps of recovery and because of its economists are firm that the ECB will keep its key interest rate unchanged today. We recall that it is 1%. Data showed that manufacturing in the industrial sector decreased by 2.2%, while the remaining 4 sub-sector growth is between 0.6% and 1.8% on a monthly basis in November with the strongest is the production of intermediate and capital goods.
Across the EU, industrial production rose by 0.9% on a monthly basis and decreased by 6.4% yoy.

New 15-month high on oil futures at the beginning of the week

Viliyana Filipova — Mon, 11 Jan 2010 15:10:15 +0000

The price of oil conquer new 15-month high during today’s e-commerce in Asia, supported by the recent good economic data for the third largest economy in the world – China, which renewed expectations for the recovery of global economy this year. Depreciation of the dollar to a three-week low against the euro, and extremely low temperatures in most of the northern hemisphere, also raised the price of energy input at the beginning of the week to the highest level since October 2008. Economic optimism contributed data on exports to China, which increased by 17.7% yoy in December. This is the first annual export growth for the past 14 months. China is expected to be engine of global economic growth this year. Moreover, today it became clear that oil imports in the country rose to a record 203.8 million metric tons last year. China is the second largest energy consumer in the world after the United States. U.S. light crude for delivery in February to 0.1 percent more expensive to 82.75 dollars a barrel during electronic trading today on the stock exchange in New York. This is the highest price level since October 14, 2008.
Friday’s volatile session ended with an increase in the February futures price of 9 cents to 82.75 dollars per barrel. Oil price increases during 11 of the last 12 sessions, and last week surged by 4.3 percent on a weekly basis. International petroleum exchange in London Brent with delivery in February to 0.2% cheaper to 81.37 dollars per barrel.

Crude Oil price recovered after yesterday’s losses quickly

Viliyana Filipova — Tue, 08 Dec 2009 11:47:59 +0000

The prices of light crude oil rose for the first time in five days after it fell below $ 75 a barrel for the first time since October 13. This raw material prices made attractive as an alternative investment, said Bloomberg. Today’s move offers a wide range between $ 75 and $ 81 per barrel. “For some time the markets began to get used to the volatility of prices between $ 75 and $ 80 a barrel, but when a quote is closer to the lower limit, the players react immediately, buy items and the price returns to higher levels,” commented the market situation David Moore, commodity markets analyst at Commonwealth Bank of Australia. Lightest crude oil for delivery in January rose by 46 cents, or 0.6 percent, reaching $ 74.39 a barrel in electronic trading on the New York Mercantile Exchange. Yesterday marked the raw material to its lowest level since $ 73.93 a barrel, having dropped very quickly with $ 1.54, or 2% per cent, compared to the price at which stock exchanges closed at the end of last week. One of the reasons oil is cheaper to the statement of the President of the U.S. Federal Reserve Ben Bernanke, who said that the U.S. economy will have problems in three directions – the labor market, tight arrangements for lending and the availability of huge quantities of stocks of fuel in reduced demand.
According to Bloomberg first reaction of markets after the statement was to wait because of this raw material is dropped, but then investors rethink the message and redirected the money to spare oil. “The market today proves it. Low rates quickly sold out, “said an analyst from National Australia Bank Uestmor Ben. Variety “Brent with delivery in January also fell $ 1.09, or 1.4 percent, to $ 76.43 a barrel. Today, however, rapidly recover some of the loss and added 57 cents, or 0.8 percent, to $ 77 for barrel. In this situation it is normal for a dollar cheaper, said Bloomberg. The U.S. currency traded in Singapore at the level of $ 1.4841 per euro at $ 1.4827 per euro yesterday.