Friday, May 31, 2013

Economic growth at 5%

India registered its worst GDP growth in a decade with the economy registering a growth rate of 5% during 2012-13. The growth rate during January-March 2013 was just 4.8% compared to 5.1% in January-March 2012.

According to Japanese government data, country's industrial production increased by 1.7% in April compared to previous month, rising for the fifth consecutive month.

Due weak world economy and exports the world's second largest economy – China is losing momentum, hence, the International Monetary Fund has cut its growth forecast for China this year to 7.75% from 8%.

Today, the price of RSS3 closed at `.171.26 at Bangkok, while Malaysian SMR20 closed at `.132.90 a kg. On the Tokyo Commodity Exchange, June futures series closed at ¥248, July at ¥249.9, August at ¥252.6, September at ¥254.5, October at ¥256.2 and the contract for delivery in November closed at ¥258.4 a kg. While on the National Multi Commodity Exchange June futures were trading at `.166.13, July at `.165.05, August at `.163.01, September at `.161.50 and October at `.161.32 a kg., at 1.30 pm IST.

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