Economic Data Snapshot
- RBI hiked repo rate by 25 bps in its June 2018 policy meeting on the back of Domestic and Global Growth Optimism.
- CPI for May 2018 came in at 4.87% compared with 4.58% in April 2018.
- CAD widened to 1.9% of GDP in Fiscal 2017-18, on the back of higher Oil and Merchandise imports
- IIP for April 2018 came in at 4.9% compared with 4.4% in March 2018.
- Manufacturing sector grew 5.2% in April 2018 compared with a 4.4%% rise in March 2018.
- Bank credit growth rose 13.1% in May 2018, credit growth has risen sharply after falling to 3.01% in March 2017.
Global Economic Data Snapshot
- Federal Reserve on 13th June 2018; hiked the fed funds rate by 25 bps to the range of 1.75%-2%. Fed signalled strong optimism on the US economy.
- US unemployment rate in May 2018 dropped to an 18-year low, at a level of 3.8%.
- Inflation in eurozone came in at 1.9% in May 2018, slightly below the ECB target of 2% inflation.
- China PMI came in at 51.9 in May 2018, China manufacturing sector grew at the fastest pace in eight months in May.
- Japan economy contracted for the first time in two years, Japan GDP contracted by 0.6% in Q1 2018