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IFF Newsletter Issue 122
TIME：2024-05-11
From the Editor
China’s factory activity grew for a second month in April, official data showed. The official manufacturing purchasing managers’ index (PMI) came in at 50.4 in April, down from 50.8 in March. China’s consumer prices rose 0.3% in April from a year earlier, official data showed on Saturday. China’s imports grew 8.4% in April from a year ago, customs data showed.
Turkish consumer price inflation surged 69.8% in April from a year earlier, official data showed on Friday. Japan’s consumer spending fell 1.2% in March, official data showed on Friday. Peru’s poverty rate rose again in 2023, official data showed on Thursday. Britain’s economy grew 0.6% in the first quarter of 2024, the fastest growth in nearly three years, official data showed.
IFF’s dialogue on Brazil’s G20 presidency emphasizes the importance of climate action
The International Finance Forum (IFF) invited the former Finance Minister of Brazil Joaquim Levy to give an in-depth analysis of Brazil’s presidency of the Group of 20 (G20), where he emphasized the importance of climate action and climate adaptation.
Levy, who is the director for economic strategy and market relations at Banco Safra S.A., discussed a wide range of issues concerning the history of G20 and its global impact as well as Brazil’s presidency and its three priorities with IFF Vice President Siddharth Tiwari, former Head of the Asian Office of the Bank for International Settlements in Hong Kong.
Levy, who has also been the president of the Brazilian Development Bank and managing director and CFO of the World Bank Group, said the connection between climate and development has become increasingly important as the world faces unprecedented climate crisis.
“Brazil is a leader in energy transition. Now pretty much 90% of our energy is produced through renewables. Fossil fuels generate 8% of electricity in Brazil and over half of fleet of cars in Brazil run on ethanol, ” said Levy.
China’s factory activity expands for second month
China’s factory activity grew for a second month in April, official data showed.
The official manufacturing purchasing managers’ index (PMI) came in at 50.4 in April, down from 50.8 in March.
The 50-mark separates growth from contraction.
The services PMI dropped to 50.3 in April, down from 52.4 in March.
China’s April consumer prices rise 0.3%; factory gate deflation persists
China’s consumer prices rose 0.3% in April from a year earlier, official data showed on Saturday.
The consumer prices index (CPI) increased 0.1% in April from March, according to the data.
The producer price index (PPI) FELL 2.5% in April from a year earlier, easing from a drop of 2.8% in March.
China’s April imports jump 8.4%; exports rise 1.5%
China’s imports grew 8.4% in April from a year ago, customs data showed.
Exports rose 1.5% year on year last month.
China’s NEVs sales surge 34% in April
Sales of new energy vehicles (NEVs) in China surged 34% in April from a year ago, data from the China Passenger Car Association showed.
Sales of NEVs in the first four months of the year jumped 35% year on year.
Passenger cars sales fell 2% year on year, according to the data.
Sales of passengers cars in the first four months of the year rose 9% to 6.42 million units, according to the data.
China saw more than 1.3 billion passenger trips during the May Day holiday, up 2.1% from a year ago, official data showed.
Highway traffic rose 2.1% while railway trips rose 1.4% during five day holiday.
Air trips surged 8.1% compared to the same holiday last year.
Sales of lottery tickets grew 11.7% in March from a year earlier, data from the Ministry of Finance showed.
Sales totaled 55.6 billion yuan. In March, the data said.
Lottery sales to support the welfare system surged 22.4% to 18.88 billion yuan in March.
Sports lottery rose 6.9% year on year to 36.72 billion yuan.
Lottery ticket sales jumped 19.7% in the quarter from a year earlier.
Newsletter
International News
Turkish consumer price inflation surged 69.8% in April from a year earlier, official data showed on Friday.
April’s month on month inflation was 3.18%.
The biggest contributor to prices rise was education, which rose 103.86%, followed by restaurants and hotels which saw prices increase 95.82%.
Japan’s consumer spending fell 1.2% in March, official data showed on Friday.
It’s the 13th month straight fall.
Spending, however, rose 1.2% on a monthly basis.
Peru’s poverty rate rose again in 2023, official data showed on Thursday.
The country’s statistics institute showed that 29% of the population is classified as impoverished and disproportionately represented in rural villages and towns.
The data represents a 1.5% increase from the previous year. Peru’s population is about 35 million.
Britain’s economy grew 0.6% in the first quarter of 2024, the fastest growth in nearly three years, official data showed.
On a monthly basis, the economy grew by 0.4% in March.
GDP per head rose 0.4% in the first quarter, the first increase in two years.
Canada added about 90,000 jobs in April, official data showed on Friday.
It was the strongest month of job creation since January 2023.
The unemployment rate, however, held steady at 6.1% due to the country’s fast population growth.
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