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Charting The Global Economy India May Ban Rice Exports, China Economy Struggle

The US inflation rate fell to a more than two-year low, providing relief to American consumers and bringing the Federal Reserve one step closer to ending its historic cycle of interest-rate hikes. China's economy is still having trouble, as evidenced by the largest decline in exports since early 2020, according to recent trade figures.

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Charting The Global Economy India May Ban Rice Exports, China Economy Struggle

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  1. Charting The Global Economy: India May Ban Rice Exports, China Charting The Global Economy: India May Ban Rice Exports, China Economy Struggle Economy Struggle India is considering prohibiting the export of several rice varieties, which could drive up already rising global prices. Global Scenario Global Scenario The US inflation rate fell to a more than two-year low, providing relief to American consumers and bringing the Federal Reserve one step closer to ending its historic cycle of interest-rate hikes. China's economy is still having trouble, as evidenced by the largest decline in exports since early 2020, according to recent trade figures. Europe's industrial output is still below average, and the UK's rapid wage growth raises the risk of further inflationary pressures. Global Charts Global Charts Here are some of the graphs showing the most recent changes in the world economy that were posted this week on Bloomberg:

  2. United States and Canada United States and Canada US inflation dropped significantly last month, giving rise to new optimism that the Fed can end the most aggressive tightening in decades soon after the anticipated hike at their meeting on July 25–26. The Bank of Canada delayed the return of inflation to its target of 2% by increasing interest rates for the second consecutive meeting, leaving the door open for additional increases. The overnight lending rate is at 5%, which is the highest level in 22 years. Asia Asia China is experiencing trade pressure as foreign shipments decrease and domestic demand remains low. A temporary respite is unlikely to materialize anytime soon given the dismal outlook for global growth and the current geopolitical unrest. India, the largest exporter of rice in the world, is considering a ban on most varieties, which could push up already-high global prices as the disruptive El Ninõ weather pattern recurs. Australia's business conditions remained resilient in June, defying the Reserve Bank's more than a year’s tightening cycle and warnings of slower economic growth, while consumer confidence remained “deeply pessimistic.” Europe Europe UK wages increased more than anticipated to a level that Bank of England Governor Andrew Bailey claimed is driving inflation and keeping pressure on the government to raise interest rates. In the three months leading up to May, average weekly earnings, excluding bonuses, increased 7.3% from a year earlier. May's increase in industrial production in the Eurozone was less than expected, which is another indication that manufacturing is still struggling to pick up steam after the 20-nation bloc experienced a wintertime recession. Growing Markets Growing Markets Southeast Asian countries that anticipated Chinese tourists to boost their economies and tourism after COVID are finding that the visitor flow is not at all what they had expected. According to visitor data, this year's economic recovery in the Southeast Asian country is likely to be low. Saudi Arabia's decision to extend its oil production cuts, which are part of a largely unsuccessful attempt to raise prices, may result in an economic contraction in the Group of 20's previous year’s fastest- growing country. Brazil's inflation rate dropped below target in June and reached a slow point witnessed since September 2020, paving the way for the central bank to start lowering interest rates at its upcoming meeting.

  3. World World Israel held interest rates steady for the first time in more than a year, while New Zealand's central bank held rates steady for the first time since August 2021. Peru maintained borrowing costs at a 22-year high, while South Korea maintained rates at their current levels. If you are a rice importer wishing to Buy Rice In Bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie is a Software as a Service platform that facilitates bulk agro-trade across the globe. Through Tradologie’s interface, buyers can avail the best qualities of agro-commodities at negotiable rates. The transaction-oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.

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