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U.S. third-quarter economic growth revised up to 3.5%

23

Dec

U.S. third-quarter economic growth revised up to 3.5%

Real gross domestic product (GDP) advanced at an annual rate of 3.5 percent in the third quarter of this year, the fastest quarterly growth since [...]

U.S. third-quarter economic growth revised up to 3.5%. Real gross domestic product (GDP) advanced at an annual rate of 3.5 percent in the third quarter of this year, the fastest quarterly growth since 2014. The growth rate was revised up from the second estimate of 3.2 percent. In the second quarter, the economy grew by 1.4 percent.`In this third estimate for the third quarter, nonresidential fixed investment, personal consumption expenditures (PCE), and state and local government spending were revised up from their previous estimates,` Xinhua reported the Commerce Department as saying.Consumer spending, which accounts for about 70 percent of the U.S. economy, increased 3.0 percent in the third quarter, stronger than the previously reported 2.8 percent increase, but moderated from a 4.3 percent surge in the second quarter.Nonresidential fixed investment rose 1.4 percent in the third quarter, faster than a 1.0 percent increase in the second quarter. It contributed 0.18 percentage point to economic growth in the third quarter.The solid economic expansion, coupled with improvement in labor market and inflation conditions, encouraged the U.S. Federal Reserve to raise interest rates this month after a near one-year pause.Fed officials projected that the U.S. economy will grow 1.9 percent this year and 2.1 percent next year, both up by 0.1 percentage point from their September forecast.With the election of Donald Trump, U.S. economic policies are likely to see significant changes, which could have substantial impact on the U.S. and global economies.Despite the uncertainty over the president-elect's policies, markets now expect tax cuts and increased government spending from the new administration, which could push up inflation and longer-term interest rates in the United States.Fed officials are now seen hiking interest rates three times next year, compared with only twice in 2017 in their September projection.   (A026)
Editor: Unggul Tri Ratomo
http://www.antaranews.com/berita/603071/pertumbuhan-ekonomi-as-kuartal-ketiga-dirivisi-naik-jadi-35-persen

23

Dec

Oil Rises on Strong Economic Data

Gross domestic product (GDP) grew at an annual rate of 3.5 percent in the third quarter of this year, the fastest quarterly growth since 2014, [...]

Oil Rises on Strong Economic Data. Gross domestic product (GDP) grew at an annual rate of 3.5 percent in the third quarter of this year, the fastest quarterly growth since 2014, according to the third estimate released by the Commerce Department on Thursday. The growth pace was revised up from the second estimate of 3.2 percent, and also beat market consensus. In a separate report, the department announced Thursday that new orders for manufactured durable goods in November decreased by 11 billion U.S. dollars or 4.6 percent to 228.2 billion dollars, exceeding market expectations. Analysts said the better-than-expected durable goods orders indicated that some of the oil-related headwinds for manufacturers were starting to wane. The U.S. benchmark West Texas Intermediate (WTI) crude futures for February delivery rose 0.46 dollars to settle at 52.95 dollars a barrel on the New York Mercantile Exchange.  Meanwhile, the global benchmark Brent crude for February delivery increased by 0.59 dollars to close at 55.05 dollars a barrel on the London ICE Futures Exchange, Xinhua reported.  (A026)
Editor: Suryanto
http://www.antaranews.com/berita/603073/harga-minyak-naik-disokong-data-ekonomi

US dollar slips despite upbeat economic data

22

Dec

US dollar slips despite upbeat economic data

U.S. existing-home sales climbed 0.7 percent to a seasonally adjusted annual rate of 5.61 million units in November, from a downwardly revised 5.57 [...]

US dollar slips despite upbeat economic data. U.S. existing-home sales climbed 0.7 percent to a seasonally adjusted annual rate of 5.61 million units in November, from a downwardly revised 5.57 million in October, beating market consensus of 5.535 million units.  The dollar index, which measures the greenback against six major peers, was down on Wednesday after posting gains in the past two sessions. The index was down 0.26 percent at 103.020 in late trading.  In late New York trading, the euro rose to 1.0428 dollars from 1.0392 dollars, and the British pound decreased to 1.2343 dollars from 1.2361 dollars. The Australian dollar increased to 0.7304 dollar from 0.7255 dollar.  The U.S. dollar bought 117.55 Japanese yen, lower than 117.71 yen of the previous session. The U.S. dollar was down to 1.0261 Swiss francs from 1.0286 francs, and it decreased to 1.3336 Canadian dollars from 1.3379 Canadian dollars.  (A026) 
Editor: Unggul Tri Ratomo
http://www.antaranews.com/berita/602877/dolar-as-melemah-meski-data-ekonomi-positif

22

Dec

Oil prices plunge

U.S. crude oil inventories rose by 2.3 million barrels last week to 485.4 million barrels, lifting the year-on-year increase by 1.9 percentage points [...]

Indonesian Promotion Through Delectable Coffee Tour in Prague

21

Dec

Indonesian Promotion Through Delectable Coffee Tour in Prague

In a release from the Indonesian Embassy in Prague to DetikTravel on Wednesday (12/21/2016), they invited the West Java Plantation Agency to hold a [...]

Indonesian Promotion Through Delectable Coffee Tour in Prague. In a release from the Indonesian Embassy in Prague to DetikTravel on Wednesday (12/21/2016), they invited the West Java Plantation Agency to hold a Coffee Tour. This event was to promote and find potential buyers for Indonesian coffee products.The Paris van Java Coffee brought from Indonesia has been met with the Almed company from the Czech Republic and an MoU has been signed to open a coffee house, as stated by Punjul Nugraha, Head of the Economics Division at the Indonesian Embassy in Prague. The Indonesian Ambassador to the Czech Republic, Aulia Rahman, said that coffee could be a means of conducting Indonesian diplomacy.It is hoped that in the near future a coffee shop will be standing in a strategic location in the Czech Republic representing the sale of Indonesian coffee in the future. Indonesian coffee has an increasing number of fans thanks to its delicious flavor.With the potential for tourism in the city of Prague and other tourist cities, this coffee shop is believed to be able to achieve great success in promoting Indonesian coffee in the Czech Republic.`In fact, with the taste of Indonesian coffee, full of aroma that is so beloved by the people of the Czech Republic, it is hoped that it can be used as the right gateway for introducing other excellent products,` said Ambassador Aulia Rahman. (bnl/bnl)
https://travel.detik.com/read/2016/12/21/102230/3376821/1382/promosi-indonesia-lewat-tur-kopi-yang-sedap-di-praha

20

Dec

Supply outlook uncertain, oil rises

Benchmark Brent crude futures settled 28 cents lower at US54.93 a barrel. US West Texas Intermediate (WTI) crude rose 22 cents to settle at US52.12 a [...]

Supply outlook uncertain, oil rises. Benchmark Brent crude futures settled 28 cents lower at US54.93 a barrel. US West Texas Intermediate (WTI) crude rose 22 cents to settle at US52.12 a barrel.
`US output looks likely to rise, which will offset a significant chunk of the planned OPEC production cuts, particularly since there is no anticipation of strong compliance,` Jim Ritterbusch, president of Chicago-based energy consultancy Ritterbusch & Associates, was quoted as saying by Reuters on Tuesday (20/12/2016).
Ritterbusch said the market would likely be surprised by 60 percent OPEC compliance in the first quarter, as a response to US shale. Traders noted that delayed Libyan crude loadings also supported prices earlier in the session.
On Saturday, a group of guards protecting oil infrastructure in Libya said they had lifted a blockade on a key pipeline leading from the Sharara and El feel oilfields. But a separate group has blocked the restart of production at the El Feel oilfield.
Meanwhile, the US dollar firmed nearly 0.1 percent on Monday, making oil more expensive for holders of other currencies. Still, some analysts expected prices to rise early in 2017 due to a deal by OPEC and other producers to cut output by almost 1.8 million barrels per day

Author
: Estu Suryowati

Editor
: Bambang Priyo Jatmiko

Source
: Reuters,

http://bisniskeuangan.kompas.com/read/2016/12/20/094500426/prospek.pasokan.masih.belum.jelas.harga.minyak.naik

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