World Economies Recover: China, India, Canada
1. Dec. 12 (Bloomberg) -- China’s industrial production jumped, exports fell the least in 13 months and imports surged in November as rebounding trade with Asian nations underscored the region’s role in leading the world recovery. Factory output climbed 19.2 percent from a year earlier, the statistics bureau said in Beijing yesterday. Exports slid 1.2 percent, the smallest drop in 13 months, and imports surged 26.7 percent, a separate report showed.
2. MUMBAI: India has overcome the worst of economic slowdown and may clock 6.5 per cent growth this fiscal on the back of robust industrial performance and positive macroeconomic indicators, the Economic Intelligence Unit said.
"We expect real GDP growth in 2009-10 to average 6.5 per cent from the earlier 5.8 per cent, with an upside risk," EIU Director (Research) Manoj Vohra told reporters here. The strong performance of industrial production and other macroeconomic indicators in recent months lead us to believe that the worst of the economic slowdown in India is now over, Vohra said, adding that there would now be a gradual upward movement.
3. TORONTO -- Canada posted its first trade surplus in 4 months, courtesy of higher gold sales, strong energy exports, and demand from an unlikely source: McDonald's. Stronger gold and energy prices accounted for much of the swing into a $428-million surplus in October from a month-earlier deficit of $850-million.
Other contributors, though, came from unexpected quarters. Canola exports rocketed 48 per cent in the month.Why the sudden demand for canola?
“We're seeing a large increase from the food service industry, at some of the big chains like McDonalds … which are moving away from trans fats,” said JoAnne Buth, Winnipeg-based president of the Canola Council of Canada.