US ECONOMICS
FED. November 02, 2017. Statement by Federal Reserve Board Governor Powell on his nomination by President Trump
Statement by Federal Reserve Board Governor Jerome H. Powell:
Thank you, Mr. President, for the faith you have shown in me through this nomination. I am both honored and humbled by this opportunity to serve our great country. If I am confirmed by the Senate, I will do everything within my power to achieve the goals assigned to the Federal Reserve by the Congress: stable prices and maximum employment.
I want to thank my wife, Elissa, for her love, support, and wise counsel. Without her, I would not be standing here. We are thinking today of our three children, and of the world they are inheriting. My five siblings and I are also thinking today of our parents, who gave us so many gifts, most of all a loving home.
In the years since the global financial crisis ended, our economy has made substantial progress toward full recovery. By many measures we are close to full employment, and inflation has gradually moved up toward our target.
Our financial system is without doubt far stronger and more resilient than it was before the crisis. Our banks have much higher capital and liquidity, are more aware of the risks they run, and are better able to manage those risks. While post-crisis improvements in regulation and supervision have helped us to achieve these gains, I will continue to work with my colleagues to ensure that the Federal Reserve remains vigilant and prepared to respond to changes in markets and evolving risks.
Finally, I have had the great privilege of serving under Chairman Bernanke and Chair Yellen, who guided the economy with insight and courage through difficult times while moving monetary policy toward greater transparency and predictability. Each of them embodies the highest ideals of public service--unquestioned integrity and unflinching commitment to fulfilling our mandate. Inside the Federal Reserve, we understand that monetary policy decisions matter for American families and communities. I strongly share that sense of mission and am committed to making decisions with objectivity and based on the best available evidence, in the longstanding tradition of monetary policy independence.
Mr. President, thank you again for this extraordinary opportunity to serve the American people.
FED. November 02, 2017. Statement by Federal Reserve Board Chair Yellen on the nomination of Governor Powell by President Trump
Statement by Federal Reserve Board Chair Janet L. Yellen:
I congratulate my colleague Jay Powell on his nomination to be Chairman of the Federal Reserve Board. Jay's long and distinguished career has been marked by dedicated public service and seriousness of purpose. I am confident in his deep commitment to carrying out the vital public mission of the Federal Reserve. I am committed to working with him to ensure a smooth transition.
FED. November 01, 2017. Federal Reserve issues FOMC statement
Information received since the Federal Open Market Committee met in September indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions. Although the hurricanes caused a drop in payroll employment in September, the unemployment rate declined further. Household spending has been expanding at a moderate rate, and growth in business fixed investment has picked up in recent quarters. Gasoline prices rose in the aftermath of the hurricanes, boosting overall inflation in September; however, inflation for items other than food and energy remained soft. On a 12-month basis, both inflation measures have declined this year and are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. Hurricane-related disruptions and rebuilding will continue to affect economic activity, employment, and inflation in the near term, but past experience suggests that the storms are unlikely to materially alter the course of the national economy over the medium term. Consequently, the Committee continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, and labor market conditions will strengthen somewhat further. Inflation on a 12-month basis is expected to remain somewhat below 2 percent in the near term but to stabilize around the Committee's 2 percent objective over the medium term. Near-term risks to the economic outlook appear roughly balanced, but the Committee is monitoring inflation developments closely.
In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1 to 1-1/4 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation.
In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee will carefully monitor actual and expected inflation developments relative to its symmetric inflation goal. The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.
The balance sheet normalization program initiated in October 2017 is proceeding.
Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Charles L. Evans; Patrick Harker; Robert S. Kaplan; Neel Kashkari; Jerome H. Powell; and Randal K. Quarles.
Implementation Note issued November 1, 2017
Decisions Regarding Monetary Policy Implementation
The Federal Reserve has made the following decisions to implement the monetary policy stance announced by the Federal Open Market Committee in its statement on November 1, 2017:
- The Board of Governors of the Federal Reserve System voted unanimously to maintain the interest rate paid on required and excess reserve balances at 1.25 percent.
- As part of its policy decision, the Federal Open Market Committee voted to authorize and direct the Open Market Desk at the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions in the System Open Market Account in accordance with the following domestic policy directive:
The Committee directs the Desk to continue rolling over at auction the amount of principal payments from the Federal Reserve's holdings of Treasury securities maturing during each calendar month that exceeds $6 billion, and to continue reinvesting in agency mortgage-backed securities the amount of principal payments from the Federal Reserve's holdings of agency debt and agency mortgage-backed securities received during each calendar month that exceeds $4 billion. Small deviations from these amounts for operational reasons are acceptable.
The Committee also directs the Desk to engage in dollar roll and coupon swap transactions as necessary to facilitate settlement of the Federal Reserve's agency mortgage-backed securities transactions."
- In a related action, the Board of Governors of the Federal Reserve System voted unanimously to approve the establishment of the primary credit rate at the existing level of 1.75 percent.
Federal Reserve Board announces appointment of James A. Clouse as secretary of the Federal Open Market Committee
The Federal Reserve Board on Wednesday announced that James A. Clouse has been appointed secretary of the Federal Open Market Committee (FOMC), succeeding Brian F. Madigan, effective November 26.
In addition to directing the work of the FOMC Secretariat, which produces minutes and transcripts of FOMC meetings, Clouse will continue as deputy director of the Board's Division of Monetary Affairs and will continue to report to Thomas Laubach, division director. Madigan will serve as senior adviser before retiring in 2018.
Clouse began his career at the Board in 1989, after service as an officer in the U.S. Army. He was on leave from the Board from December 2005 to November 2006, when he served as a deputy assistant secretary at the Treasury Department, overseeing Treasury debt financing. He has been a deputy director of the Monetary Affairs division since 2007. He holds a B.A. in economics from Princeton University and a Ph.D. in economics from Northwestern University.
"I'm very pleased that Jim is undertaking additional duties as FOMC secretary," said Chair Janet L. Yellen. "Over the past three decades, Jim has developed deep expertise in central banking broadly, the Federal Reserve in particular, and most especially in monetary policy implementation."
Madigan was appointed FOMC secretary in June 2015, when he returned to the Board staff after a five-year absence. He initially joined the Board staff in 1979 and served as director of the Division of Monetary Affairs and FOMC Secretary from 2007 to 2010.
"I'm very grateful for Brian's service through a long and distinguished career and, most particularly, for his leadership during the challenging years of the financial crisis." Chair Yellen said.
DoC. BEA. November 2, 2017. Gross Domestic Product by Industry: Second Quarter 2017. Annual Update: 2014 through First Quarter 2017. Mining Led Growth in the Second Quarter
Mining; professional, scientific, and technical services; and health care and social assistance were the leading contributors to the increase in U.S. economic growth in the second quarter of 2017. According to gross domestic product (GDP) by industry statistics released by the Bureau of Economic Analysis, 17 of 22 industry groups contributed to the overall 3.1 percent increase in real GDP in the second quarter.
- For the mining industry, real value added—a measure of an industry's contribution to GDP—increased 28.6 percent in the second quarter, after increasing 12.1 percent in the first quarter. This was the largest increase since the fourth quarter of 2014 and primarily reflected increases in both oil and gas extraction and support activities for mining.
- Professional, scientific, and technical services increased 5.1 percent, after increasing 0.1 percent. This was the largest increase since the third quarter of 2014.
- Health care and social assistance increased 4.7 percent, after increasing 3.7 percent. The second quarter growth primarily reflected an increase in ambulatory health care services.
Other highlights
- Real GDP growth increased to 3.1 percent in the second quarter, from 1.2 percent in the first quarter. Professional, scientific, and technical services was the leading contributor to the acceleration in real GDP in the second quarter. The larger increase was primarily attributed to miscellaneous professional, scientific, and technical services, which includes industries like specialized design services; architectural services; and translation and interpretation services.
- Retail trade increased 5.6 percent, after decreasing 0.3 percent, and was the second leading contributor to the acceleration.
- Information services increased 7.0 percent, after increasing 1.6 percent. The second quarter increase was primarily attributed to the broadcasting and telecommunications industry.
Gross output by industry
Economy-wide, real gross output—principally a measure of an industry's sales or receipts, which includes sales to final users in the economy (GDP) and sales to other industries (intermediate inputs)—increased 2.5 percent in the second quarter. This reflected an increase of 3.8 percent in real gross output for the private services-producing sector and 1.3 percent for the government sector, while the private goods-producing sector decreased 0.2 percent. Overall, 18 of 22 industry groups contributed to the increase in real gross output.
- Real gross output for mining increased 20.7 percent, after increasing 39.0 percent in the first quarter.
- Retail trade increased 2.0 percent, after increasing 0.6 percent. This primarily reflected increases in other retail, which includes nonstore retailers.
- Arts, entertainment, and recreation increased 12.5 percent, after decreasing 5.1 percent.
FULL DOCUMENT: https://www.bea.gov/newsreleases/industry/gdpindustry/2017/pdf/gdpind217.pdf
FED. REUTERS. 1 DE NOVEMBRO DE 2017. Fed mantém juros, mas sólido crescimento econômico indica alta da taxa em dezembro
WASHINGTON (Reuters) - O Federal Reserve, banco central dos Estados Unidos, manteve os juros na faixa de 1 a 1,25 por cento nesta quarta-feira e ressaltou o sólido crescimento econômico do país e o fortalecimento no mercado de trabalho, enquanto minimizou o impacto dos recentes furacões, sinal de que está no caminho para aumentar a taxa em dezembro.
O Fed reconheceu que a inflação continuava baixa, mas não reduziu sua avaliação sobre as expectativas sobre os preços, ao mesmo tempo em que notou que a taxa de desemprego do país havia caído ainda mais.
“O mercado de trabalho continuou a se fortalecer e... a atividade econômica tem crescido com ritmo sólido apesar de interrupções relacionadas aos furacões”, informou o Fed em comunicado.
O Fed aumentou os juros duas vezes este ano e atualmente prevê outra alta em dezembro como parte do ciclo de aperto que começou no final de 2015.
Os investidores estavam amplamente focados em quem será responsável pela política monetária no final do primeiro mandato da atual chair do Fed, Janet Yellen, em fevereiro de 2018.
O presidente dos Estados Unidos, Donald Trump, deverá anunciar na quinta-feira a indicação do atual diretor do Fed Jerome Powell, um centrista de fala mansa que apoiou a abordagem gradual de Yellen para elevar as taxas.
REDUÇÃO NO BALANÇO
O tom encorajador da decisão de agora ressaltou que o banco central está preparado para outro impulso em sua taxa de empréstimo de referência.
As autoridades do Fed foram influenciadas nos últimos meses por uma economia global e doméstica mais forte e maior aperto no mercado de trabalho dos EUA, embora estejam divididos quanto às causas e duração da atual fraqueza da inflação.
A medida de inflação preferida do Fed está em 1,3 por cento após recuar mais da meta de 2 por cento durante a maior parte do ano.
Ainda assim, Yellen e outras importantes autoridades disseram que o Fed espera continuar aumentando gradualmente as taxas, dada a força da economia no geral. Em sua declaração, o Fed reiterou que espera que a inflação volte a subir à meta no médio prazo.
As condições financeiras dos EUA permanecem amplas, fortalecendo o argumento de que outro aumento da taxa não retardaria o crescimento. O governo informou na semana passada que a economia cresceu à taxa anual de 3 por cento no terceiro trimestre.
Uma queda na contratação em setembro também foi descartada como uma explosão causada pelo deslocamento temporário de trabalhadores devido a furacões Harvey e Irma. O relatório de empregos mostra os salários crescendo em ritmo crescente e a taxa de desemprego caindo para a mínima de mais de 16 anos e meio, a 4,2 por cento.
O Fed informo ainda que a redução planejada de 4,5 trilhões de dólares no balanço patrimonial, que começou em outubro, prosseguia.
Não houve nenhuma dissidência na decisão do Fed. O banco central realizará sua última reunião do ano nos dias 12 e 13 de dezembro.
Por Lindsay Dunsmuir e Howard Schneider
FED. November 02, 2017. Speech. Introductory Remarks. Governor Jerome H. Powell. At the Roundtable of the Alternative Reference Rates Committee, The Federal Reserve Bank of New York, New York, New York
Good morning. I am sorry that I am not able to be with you today at the FRBNY for this important meeting. I thought that I would begin by discussing the LIBOR related events that have brought us here, and then talk about the way forward.
LIBOR gained negative public attention when reports began to surface during the financial crisis that employees at some banks had attempted to manipulate the rate by altering the quotes they submitted for use in the calculation of LIBOR. A number of agencies, including the Commodity Futures Trading Commission (CFTC), the Department of Justice, and the U.K. Financial Conduct Authority (FCA), took the lead in investigating and prosecuting the cases of LIBOR manipulation that were uncovered. The Federal Reserve also joined in international efforts to strengthen LIBOR. Among other things, we joined the ICE Benchmark Administration's (IBA's) LIBOR Oversight Committee as an observer, and we also worked intensively with international authorities and IBA in developing and encouraging the reforms set out in IBA's Roadmap for LIBOR.
But at the same time, as we and other authorities collected data on the transactions underlying banks' submissions to LIBOR, we began to see that those transactions were relatively few and far between. As a result, many began to question whether LIBOR could be truly and permanently fixed. To be sure, much has been done to address the cases of attempted manipulation, and LIBOR has much stronger governance in place than it did before the crisis. The question instead was whether there were enough actual LIBOR transactions to form a stable basis for this critical rate.
Since many of the pressures around LIBOR stem from the low level of underlying transactions, let me share some data regarding activity in U.S. dollar wholesale funding markets. Today, there are 17 banks that submit quotes in support of dollar LIBOR. Some have suggested requiring more banks to submit LIBOR data, but doing so would not materially improve the situation. The panels in Figure 1 show the distribution of daily aggregate wholesale dollar funding volumes for the 30 global systemically important banks (or GSIBs). The data here include all of the Eurodollar, federal funds, CD, and commercial paper transactions that the Federal Reserve has access to--the most complete picture of U.S. dollar unsecured funding that I am aware of. For one-month funding, shown in the top panel, the median daily volume of transactions by these banks since money-market reforms took effect last year was just over $1 billion. For three-month funding (the middle panel), the most heavily referenced LIBOR tenor, the median is less than $1 billion per day. On some days we see less than $100 million. If we compare this to the more than $100 trillion in outstanding volumes of U.S. dollar LIBOR contracts, it should be clear that the activity in this market is miniscule compared to the size of the contracts written on it.
In our view, it would not be feasible to produce a robust, transaction-based rate constructed from the activity in wholesale unsecured funding markets. A transactions-based rate from this market would be fairly easy to manipulate given such a thin level of activity, and the rate itself would likely be quite volatile. Thus, LIBOR seems consigned to rely primarily on some form of expert judgment rather than direct transactions.
As we discussed these issues with the officials in the United Kingdom who oversee and regulate LIBOR, we also became aware that they were receiving a steady stream of requests, and sometimes demands, from banks seeking to leave the LIBOR panels. The use of expert judgment in submissions allows LIBOR to be published every day, but many banks are now understandably uncomfortable with being asked to provide judgment about something that they do very little of. In his July speech, Andrew Bailey discussed the efforts of the FCA to keep these banks on the panels. Market participants should understand that the official sector has done everything it can to stabilize and strengthen LIBOR. Without the intervention of U.K. authorities, LIBOR would be in a weaker state today.
But that balancing act has grown increasingly difficult. As time has passed, some banks have grown more resistant to public-sector entreaties to remain on the panels. As you know, one bank left the U.S. dollar panel last year. At the same time, we have had to confront the fact that, if banks could not be persuaded to voluntarily remain on panels, then the legal powers to compel them to do so were limited. Under European Union benchmark regulations, which LIBOR will soon be subject to, authorities can only compel submissions to a critical benchmark for a period of two years. Given this time limit, brokering a voluntary agreement with the submitting banks to stay on for a longer period was the last, best choice that authorities had available to guarantee some further period of stability for LIBOR. CFTC Chairman Chris Giancarlo and I have publicly supported the FCA's efforts to secure an agreement with the submitting banks to stay on through the end of 2021, and we have encouraged the U.S. banks that submit to LIBOR to cooperate with FCA's effort.
Of course, LIBOR may remain viable well past 2021, but we do not think that market participants can safely assume that it will. Users of LIBOR must now take in to account the risk that it may not always be published. While the public's understanding of this risk has increased significantly since Andrew Bailey's speech, the official sector has been concerned about it for some years, as reflected for example in our public comments and in the annual reports of the Financial Stability Oversight Council. Given our understanding of the risks to LIBOR, the Federal Reserve convened the Alternative Reference Rates Committee (or ARRC) in 2014 in cooperation with the Treasury Department and CFTC. Consistent with recommendations from the Financial Stability Board (FSB), we charged the ARRC with identifying a robust alternative to U.S. dollar LIBOR and with developing a plan to encourage its use in some derivatives and other transactions as appropriate.
The ARRC has accomplished the things that we asked of it. I want to thank the members for their work and also to extend my special thanks to Sandie O'Connor as the chair of the ARRC. Sandie will discuss the ARRC's work shortly, but I'll make a few points.
First, I'd note that, like most market participants, the ARRC members initially had a difficult time conceiving of any kind of transition from LIBOR. As is the case for all of you, a transition will be a complicated task for the broker-dealers and other members of the ARRC, and will involve significant costs. Over time, however, I think the ARRC members have developed a greater understanding of the risks to LIBOR and now see that, despite those complications and costs, a transition may prove necessary. I also think that, having had time to consider the transition plans that Sandie will talk about, ARRC members have become more comfortable with the idea that a transition is feasible, even if the necessity of achieving it is regrettable.
Second, it is clear that any rate the ARRC selected as a potential alternative needed to be highly robust. There would be no point in selecting a rate that might find itself quickly in the same kinds of conditions that LIBOR is in now. In our view, the ARRC has chosen the most robust rate available. In general, only overnight unsecured or secured funding markets appeared to have enough underlying transactions to produce a robust rate. The overnight Treasury repo market is the largest and most active market in any tenor of U.S. rates markets. Figure 2 illustrates the point: the transactions underlying the Secured Overnight Financing Rate (SOFR), at about $700 billion per day or more, are much larger than the volumes in overnight unsecured markets, even much larger than estimates of the volume in Treasury bills, and they dwarf the volumes in other term markets. The alternative reference rate needs to be able to stand the weight of having trillions of dollars written on it, and the ARRC has definitely met this standard in choosing SOFR.
Third, we charged the ARRC with devising plans for a voluntary transition that encouraged the use of their recommended rate where appropriate. We have never told anyone that they cannot use LIBOR. The ARRC did consider whether other cash products could move from LIBOR to the rates it evaluated, but their paced transition plan has focused on derivatives because that is where the largest gross exposures to LIBOR are, and because it may be easier for many derivatives transactions to move away from LIBOR to a new rate.
Now, however, market participants have realized that they may need to more seriously consider transitioning other products away from LIBOR, and the ARRC has expanded its work to help ensure that this can be done in a coordinated way that avoids unnecessary disruptions. Sandie will discuss plans to eventually create a term reference rate, which may help to smooth any transition. That term reference rate would have to be built by first developing futures and OIS markets that reference SOFR. It will likely never be as robust as SOFR itself, and so derivatives transactions will almost certainly need to be based on the overnight rate, but a term reference rate could conceivably be used in some loan or other contracts that currently reference LIBOR.
All of the work that we will talk about today will help, but we have to acknowledge that the transition will be complicated. Unfortunately, as I have discussed, we cannot guarantee that it won't be necessary. The most complicated aspects involve the legacy contracts that reference LIBOR, many of which do not have strong language in place if LIBOR were to stop publication. The FSB has been working with the International Swaps and Derivatives Association (or ISDA) to devise better language for derivatives, and ISDA's Scott O'Malia and Katherine Tew Darras will discuss that work later this morning. As people now consider the risks around LIBOR for other types of contracts, they will need to go through their documentation to understand what the fallback language is and how it can be improved. We will also discuss those issues today. This is important work, both for the parties to these contracts and for our financial stability. While there may be no perfect contract language or fallback, good risk management requires that we work together to find language and fallbacks that are robust and that limit unintended valuation changes.
So, while much work has been done, there is more still to do. I have been heartened in seeing that many market participants are already confronting these issues. For some, Andrew Bailey's speech was a difficult wake-up call. But the efforts we have undertaken with the ARRC show what is possible when the official sector works collectively with market participants. If market participants are willing to continue to work together, then we can safely achieve the transitions needed to create a better and more robust system that will help to ensure our ongoing financial stability.
THE WHITE HOUSE. FED. REUTERS. 1 DE NOVEMBRO DE 2017. Casa Branca informa Powell de que pretende nomeá-lo como chair do Fed
WASHINGTON (Reuters) - A Casa Branca informou o diretor do Federal Reserve Jerome Powell de que o nomeará como próximo chair do banco central, noticiou o Wall Street Journal nesta quarta-feira, citando uma pessoa familiarizada com o tema.
O WSJ relatou que o presidente Donald Trump havia falado com Powell na terça-feira, disse uma segunda fonte familiarizada com o assunto ao jornal.
Trump decidiu sobre Powell para substituir a atual chair, Janet Yellen, no sábado, disse o jornal. Um anúncio formal ocorrerá na quinta-feira.
O mandato de Janet Yellen como chair do Fed acaba em fevereiro de 2018.
Por David Chance
DoL. BLS. November 2, 2017. PRODUCTIVITY AND COSTS . Third Quarter 2017, Preliminary
Nonfarm business sector labor productivity increased 3.0 percent during the
third quarter of 2017, the U.S. Bureau of Labor Statistics reported today,
as output increased 3.8 percent and hours worked increased 0.8 percent. (All
quarterly percent changes in this release are seasonally adjusted annual
rates.) From the third quarter of 2016 to the third quarter of 2017,
productivity increased 1.5 percent, reflecting a 2.9-percent increase in
output and a 1.4-percent increase in hours worked. (See tables A1 and 2.)
Labor productivity, or output per hour, is calculated by dividing an index of
real output by an index of hours worked by all persons, including employees,
proprietors, and unpaid family workers.
Unit labor costs in the nonfarm business sector increased 0.5 percent in the
third quarter of 2017, reflecting a 3.5-percent increase in hourly
compensation and a 3.0-percent increase in productivity. Unit labor costs
decreased 0.1 percent over the last four quarters. (See tables A1 and 2.)
BLS calculates unit labor costs as the ratio of hourly compensation to labor
productivity. Increases in hourly compensation tend to increase unit labor
costs, and increases in output per hour tend to reduce them.
Manufacturing sector labor productivity fell 5.0 percent in the third quarter
of 2017, as output decreased 2.1 percent and hours worked increased 3.1
percent. The decrease in manufacturing output per hour is the largest since
the first quarter of 2009, when the measure fell 16.3 percent. Productivity
decreased 5.7 percent in the durable goods manufacturing sector and 4.6
percent in the nondurable goods sector in the third quarter of 2017. Over the
last four quarters, total manufacturing sector productivity increased 0.1
percent, as output increased 1.2 percent and hours worked increased 1.1
percent. (See tables A1, 3, 4 and 5.) Unit labor costs in manufacturing
increased 6.2 percent in the third quarter of 2017 and rose 0.7 percent from
the same quarter a year ago.
The concepts, sources, and methods used for the manufacturing output series
differ from those used in the business and nonfarm business output series;
these output measures are not directly comparable. See the Technical Notes for
a more detailed explanation.
=========================================================================================================================
Table A1. Labor productivity growth and related measures - preliminary third-quarter 2017
(percent change from previous quarter at annual rate and from same quarter a year ago)
Labor Hours Hourly Real hourly Unit labor
Sector Percent change from: productivity Output worked compensation compensation costs
-------------------------------------------------------------------------------------------------------------------------
Nonfarm business Previous quarter 3.0 3.8 0.8 3.5 1.5 0.5
A year ago 1.5 2.9 1.4 1.4 -0.6 -0.1
Business Previous quarter 3.6 3.8 0.1 4.1 2.0 0.4
A year ago 1.5 2.8 1.2 1.6 -0.4 0.0
Manufacturing Previous quarter -5.0 -2.1 3.1 0.9 -1.1 6.2
A Year ago 0.1 1.2 1.1 0.8 -1.1 0.7
Durable
manufacturing Previous quarter -5.7 -3.4 2.5 0.5 -1.4 6.7
A year ago 0.0 0.9 0.9 0.4 -1.5 0.5
Nondurable
manufacturing Previous quarter -4.6 -0.7 4.1 1.6 -0.4 6.5
A year ago 0.1 1.5 1.4 1.6 -0.4 1.5
=========================================================================================================================
Table A2. Labor productivity growth and related measures – revised and previously published second-quarter 2017
(percent change from previous quarter at annual rate)
Labor Hours Hourly Real hourly Unit labor
Sector productivity Output worked compensation compensation costs
-------------------------------------------------------------------------------------------------------------------------
Nonfinancial Revised 4.4 7.5 3.0 2.0 2.3 -2.3
corporate Previously published 4.6 7.8 3.1 1.9 2.2 -2.6
=========================================================================================================================
Table B1. Labor productivity growth and related measures – revised and previously published second-quarter 2017
(percent change from previous quarter at annual rate)
Labor Hours Hourly Real hourly Unit labor
Sector productivity Output worked compensation compensation costs
-------------------------------------------------------------------------------------------------------------------------
Nonfarm business Revised 1.5 3.9 2.4 1.8 2.1 0.3
Previously published 1.5 4.0 2.5 1.8 2.1 0.2
Business Revised 1.4 3.7 2.3 1.9 2.2 0.4
Previously published 1.3 3.7 2.4 1.8 2.1 0.5
Manufacturing Revised 3.4 2.8 -0.6 2.4 2.7 -1.0
Previously published 2.9 2.1 -0.7 2.5 2.8 -0.4
Durable Revised 5.0 2.3 -2.6 3.0 3.4 -1.9
manufacturing Previously published 3.8 1.0 -2.7 3.1 3.5 -0.6
Nondurable Revised 0.4 3.3 2.9 1.5 1.9 1.1
manufacturing Previously published 0.5 3.4 2.8 1.6 1.9 1.0
=========================================================================================================================
FULL DOCUMENT: https://www.bls.gov/news.release/pdf/prod2.pdf
DoC. USITC. 11/01/2017. U.S. Department of Commerce Issues Affirmative Preliminary Countervailing Determinations on Fine Denier Polyester Staple Fiber from the People’s Republic of China and India
U.S. Secretary of Commerce Wilbur Ross announced the affirmative preliminary determinations in the countervailing duty (CVD) investigations, finding that exporters of fine denier polyester staple fiber from the People’s Republic of China (China) and India received countervailable subsidies of 41.73 to 47.64 percent and 7.18 to 9.86 percent, respectively.
The Commerce Department will instruct U.S. Customs and Border Protection to collect cash deposits from importers of fine denier polyester staple fabric from China and India based on these preliminary rates.
In 2016, imports of fine denier polyester staple fiber from China and India were valued at an estimated $79.4 million, $14.8 million, respectively.
The petitioners are DAK Americas LLC (NC), Nan Ya Plastics Corporation, America (SC), and Auriga Polymers Inc. (NC).
Enforcement of U.S. trade law is a prime focus of the Trump administration. From January 20 through October 31, 2017, Commerce has initiated 77 AD and CVD investigations – a 60 percent increase over the previous year. Commerce currently maintains 411 AD and CVD duty orders which provide relief to American companies and industries impacted by unfair trade.
Unless the final determinations are aligned with the concurrent AD investigations, Commerce is currently scheduled to announce its final CVD determinations on January 16, 2018.
If the Commerce Department makes affirmative final determinations of subsidization and the U.S. International Trade Commission (ITC) makes affirmative final injury determinations, Commerce will issue CVD orders. If the Commerce Department makes negative final determinations of subsidization or the ITC makes negative final determinations of injury, the investigations will be terminated and no order will be issued.
Next Steps
Unless the final determinations are aligned with the concurrent AD investigations, Commerce is currently scheduled to announce its final CVD determinations on January 16, 2018.
If the Commerce Department makes affirmative final determinations of subsidization and the U.S. International Trade Commission (ITC) makes affirmative final injury determinations, Commerce will issue CVD orders. If the Commerce Department makes negative final determinations of subsidization or the ITC makes negative final determinations of injury, the investigations will be terminated and no order will be issued.
The U.S. Department of Commerce’s Enforcement and Compliance unit within the International Trade Administration is responsible for vigorously enforcing U.S. trade laws and does so through an impartial, transparent process that abides by international rules and is based solely on factual evidence.
Imports from companies that receive unfair subsidies from their governments in the form of grants, loans, equity infusions, tax breaks and production inputs are subject to “countervailing duties” aimed at directly countering those subsidies.
Fact sheet: https://www.trade.gov/enforcement/factsheets/factsheet-multiple-fine-denier-polyester-staple-fiber-cvd-prelim103117.pdf
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ORGANISMS
FAO. 2 November 2017. FAO Food Price Index eases in October as dairy prices decline. Worldwide cereal production and inventory levels are expected to reach new highs in 2018
Rome - Global food prices dipped in October, led lower by dairy products, averaging 27 percent below its all-time high reached in early 2011.
The FAO Food Price Index averaged 176.4 points for the month of October, down 1.3 percent from September while still up 2.5 percent from a year earlier.
The FAO Food Price Index is a measure of the monthly change in international prices of a basket of food commodities.
The FAO Dairy Price Index declined 4.2 percent during the month, marking its first drop since May.
International quotations for butter and whole milk powder eased in October, as importers held back on purchases awaiting new supplies from Oceania, while low demand and ample intervention stocks in the EU pushed skim milk powder prices down.
The FAO Vegetable Oil Price Index also declined, by 1.1 percent from its September value, as key palm and soy oil prices eased in light of positive production prospects.
The FAO Sugar Price index declined 0.7 percent, influenced by weakening in the currency of Brazil, the largest exporter, and on the back of prospects for larger beet crops in the EU and a bigger output in the Russian Federation.
The FAO Meat Price Index declined 0.9 percent, as intensifying competition among pigmeat exporters, combined with sluggish import demand, drove international quotations lower.
The FAO Cereal Price Index edged up a notch, 0.4 percent led by higher rice prices even as wheat quotations were generally lower.
Cereal production on course for a record high
Global cereal production in 2017 is forecast to surpass the 2016 peak by a small margin, according to FAO's latest Cereal Supply and Demand Brief, also released today.
Worldwide production of coarse grains is set to reach a new record, thanks to expansion in South America and southern Africa. Wheat production, by contrast, is forecast to decline slightly due mostly to lower harvest volumes foreseen in the United States of America. Global rice output, on the other hand, is expected to remain broadly stable.
FAO's latest estimates point to a 1.0 percent expansion in world cereal utilization in the coming year, with world cereal stocks on course to set a new record level by the close of seasons in 2018. Global stocks of rice and coarse grains are projected to hit record highs, while those of wheat already have.
Given the ample size of export supplies, competition among major exporters in the year ahead is expected to remain stiff, with expanding world trade volumes in maize, sorghum and rice offsetting an expected decline in wheat.
Food Outlook: http://www.fao.org/giews/reports/food-outlook/en/
FAO. PORTAL G1. EFE. 02/11/2017. Preços internacionais dos alimentos caem em outubro. Queda foi impactada principalmente pelos lácteos, que ficaram 4,2% mais baratos do que em setembro, segundo a Organização das Nações Unidas para Agricultura e Alimentação.
Os preços internacionais dos alimentos básicos caíram em outubro passado 1,3% em relação a setembro, influenciados sobretudo pelo barateamento dos produtos lácteos, informou nesta quinta-feira (2) a Organização das Nações Unidas para Agricultura e Alimentação (FAO).
A FAO afirmou em comunicado que o índice que mede a evolução dos preços dos cereais, dos lácteos, da carne, dos óleos vegetais e do açúcar ficou em 176,4 pontos.
Esse nível médio supera em 2,5% o registrado em outubro de 2016, se bem que é 27% inferior ao recorde histórico atingido no começo de 2011.
Os lácteos foram os produtos cujo preço caíram em maior porcentagem (4,2% mensal), o que representa sua primeira queda desde maio passado.
A FAO explicou a tendência devido ao atraso das compras dos importadores de manteiga e leite em pó, à espera de novas provisões da Oceania, assim como pela pouca demanda e pelas amplas reservas de leite desnatado em pó na União Europeia (UE).
Os preços de óleo vegetal caíram 1,1% nesse período devido às perspectivas positivas de produção de óleo de palma e soja.
A carne ficou 0,9% mais barata em relação a setembro por causa de uma maior concorrência entre os exportadores de porco, e o açúcar, 0,7%, devido à desvalorização do real, às expectativas de colheitas mais abundantes na UE e ao aumento da produção na Rússia.
Os únicos preços que subiram em outubro foram os dos cereais, precisamente 0,4%, no meio das previsões que mostram que a produção mundial poderia atingir este ano um novo recorde, superando levemente o patamar máximo de 2016.
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ECONOMIA BRASILEIRA
MDIC. 01 de Novembro de 2017. Superávit brasileiro chega a US$ 58,477 bilhões entre janeiro e outubro deste ano. MDIC prevê que saldo ficará entre US$ 65 bilhões e US$ 70 bilhões no ano
Brasília (1º de novembro) – O Ministério da Indústria, Comércio Exterior e Serviços (MDIC) divulgou nesta quarta-feira o resultado da balança comercial nos dez primeiros meses do ano. Entre janeiro e outubro, as exportações somaram US$ 183,481 bilhões e as importações US$ 125 bilhões, números que resultaram em um superávit comercial recorde de US$ 58,477 bilhões. De acordo com o diretor de Estatísticas e Apoio à Exportação do MDIC, Herlon Brandão, a expectativa é fechar o ano com um saldo entre US$ 65 bilhões e US$ 70 bilhões.
O resultado de janeiro a outubro foi puxado, entre outros fatores, pelo crescimento nas exportações em 20%, na comparação com o mesmo período de 2016. Subiram tanto as quantidades comercializadas no mercado externo quanto os preços dos produtos.
“Praticamente igualamos o volume exportado em todo o ano de 2016, com um crescimento de US$ 30 bilhões em relação ao período de janeiro a outubro de 2016”, afirmou Herlon Brandão. “Destaco também o crescimento de 7,3% no volume exportado, motivado pela safra recorde de grãos, aumento de exportações de soja, minério de ferro, milho, celulose, açúcar. Também houve desempenho positivo nas vendas de carnes”, avaliou.
Também houve crescimento no comércio de produtos industrializados acima de 50%, com embarques de produtos siderúrgicos, máquinas e equipamentos para terraplanagem. As vendas de automóveis subiram 52,4%. “Há um aumento generalizado das exportações aliado a um aumento das importações”, explica Herlon.
Os dados do período revelam que, para alguns setores, o mês de outubro foi decisivo. É o caso do comércio de frango in natura, que neste mês interrompeu uma trajetória de saldo negativo nas exportações. Com uma alta de 15,5% nos embarques, em outubro, o produto agora acumula saldo positivo de 0,3% para todo o período. O mesmo ocorreu com os embarques de milho e açúcar em bruto.
Importações
As importações nos primeiros 10 meses tiveram resultado positivo de 9,1% em relação ao mesmo período anterior. Ao todo, somaram US$ 125 bilhões, com aumento significativo em combustíveis e lubrificantes (38,6%), bens intermediários (11,1%) e bens de consumo (6,1%).
No período, caíram as compras de bens de capital (-15,5%). Porém, na avaliação do mês de outubro, isolado, verificou-se que este já é o terceiro mês consecutivo em que há aumento nas importações de bens de capital, o que não ocorria desde 2013. Trata-se, portanto, de uma reação positiva que sinaliza aquecimento da atividade econômica brasileira, segundo Brandão. “Isso significa investimento e está em linha com outros indicadores econômicos, como o de crescimento da atividade industrial”, apontou.
Outubro
No mês de outubro, as empresas brasileiras exportaram US$ 18,877 bilhões, valor 31,1% maior que o verificado no mesmo mês do ano passado. Já em relação a setembro de 2017, houve retração de 3,7%, considerando-se o desempenho médio diário.
As importações, no mês, foram de US$ 13,676 bilhões. Na comparação com outubro do ano passado foi registrado aumento de 14,5%, porém, retração de 3,4% sobre setembro de 2017, também pela média diária.
O saldo comercial do mês ficou em US$ 5,201 bilhões. De acordo com a série histórica, iniciada em 1989, este foi o maior superávit registrado em meses de outubro. Na comparação com outubro do ano passado, o crescimento foi de 122,5%. “Importante ressaltar que este foi o nono mês consecutivo com registro de superávit recordes”, destacou Brandão.
MDIC. PORTAL G1. 01/11/2017. Exportações superam importações em US$ 5,2 bilhões em outubro, recorde para o mês. No acumulado do ano, a balança comercial brasileira registrou superávit de US$ 58,48 bilhões, o maior para o período em toda a série histórica.
Por Laís Lis, G1, Brasília
A balança comercial brasileira registrou superávit (exportações maiores que importações) de US$ 5,2 bilhões em outubro, informou nesta quarta-feira (1º) o Ministério da Indústria, Comércio Exterior e Serviços (MDIC).
Trata-se do melhor resultado para o mês desde o início da série histórica do ministério, em 1989.
As exportações brasileiras em outubro somaram US$ 18,88 bilhões, com alta de 31,1% sobre o mesmo mês de 2016, na média por dia útil.
Já as importações somaram US$ 13,68 bilhões, aumento de 14,5% na mesma comparação.
Em outubro, as exportações de produtos básicos cresceram 42,3% na comparação com o mesmo mês do ano passado. A venda de semimanufaturados cresceu 26,2% e, a de manufaturados, 21%.
Do lado das importações, a compra de combustíveis e lubrificantes aumentou 68,2%; a de bens de capital, 18,7%; a de bens de consumo, 9,3%; e a de bens intermediários, 7,9%.
Balança Comercial
Para meses de outubro, em US$ bilhões
2017
5,2
5,2
Fonte: MDIC
No acumulado entre janeiro e outubro, o superávit da balança comercial somou US$ 58,48 bilhões. O resultado até outubro também é o melhor para o período de toda a série histórica.
As exportações brasileiras somaram US$ 183,48 bilhões, um aumento de 19,9% em relação ao mesmo período de 2016. Segundo o diretor de estatísticas e apoio às exportações do MDIC, Herlon Brandão, a alta é explicada por uma combinação entre aumento dos preços e quantidades exportadas.
De acordo com dados do ministério, de janeiro a outubro os preços aumentaram 11,9% na comparação com igual período de 2016. Já as quantidades de produtos exportados aumentaram 7,3%.
"Ao longo do ano observamos um crescimento das quantidades exportadas. Isso indica uma demanda mundial aquecida", afirmou.
Com relação às importações, o preço dos produtos aumentou 3,6% até outubro e, a quantidade importada, cresceu 5,4%, quando comparado com o período de janeiro a outubro de 2016.
Até outubro, as importações brasileiras somaram US$ 125 bilhões, aumento de 9,1% em relação ao mesmo período do ano passado.
Para 2017, a previsão do governo é fechar com um superávit de US$ 65 bilhões a US$ 70 bilhões. A previsão anterior era um superávit superior a US$ 60 bilhões.
"Tivemos um crescimento das exportações e o desempenho tem sido sustentável ao longo do ano", disse Brandão.
MDIC. REUTERS. 1 DE NOVEMBRO DE 2017. Brasil tem superávit comercial recorde para outubro, de US$5,201 bi, diz ministério
BRASÍLIA (Reuters) - O Brasil teve superávit comercial de 5,201 bilhões de dólares em outubro, melhor para o período desde o início da série histórica em 1989, em mais um resultado recorde impulsionado pelo forte avanço das exportações, divulgou o Ministério da Indústria, Comércio Exterior e Serviços (MDIC) nesta quarta-feira. Em pesquisa Reuters com analistas, a expectativa era de um superávit de 5,251 bilhões de dólares.
Este foi o nono mês consecutivo com recorde histórico para as trocas comerciais brasileiras. As exportações tiveram alta de 31,1 por cento em outubro sobre igual mês do ano passado, pela média diária, a 18,877 bilhões de dólares. Já as importações cresceram menos, com avanço de 14,5 por cento na mesma base de comparação, a 13,676 bilhões de dólares. Nos dez meses do ano, o superávit da balança comercial já é de 58,477 bilhões de dólares, alta de 51,8 por cento sobre igual período de 2016. No mês passado, o MDIC já havia melhorado em nota sua estimativa para o saldo do ano a um superávit entre 65 bilhões e 70 bilhões de dólares, contra projeção anterior de um patamar superior a 60 bilhões de dólares, que já seria uma marca recorde para o país. DESTAQUES As exportações em outubro foram puxadas pelas vendas de produtos básicos, com alta de 42,3 por cento sobre um ano antes, com destaque para minério de ferro (+68,9 por cento, a 2 bilhões de dólares), petróleo em bruto (+5,9 por cento, a 1,2 bilhão de dólares), soja em grão (+116,2 por cento, a 940 milhões de dólares) e milho em grão (+287,2 por cento, a 774 milhões de dólares).
Mas as outras categorias também entregaram desempenho positivo no mês. Enquanto as vendas de semimanufaturados subiram 26,2 por cento ante outubro de 2016, as de manufaturados avançaram 21 por cento.
Na ponta das importações, houve um aumento no mês nas compras de combustíveis e lubrificantes (+68,2 por cento), bens de capital (+18,7 por cento) e bens intermediários (+7,9 por cento).
Por Marcela Ayres
ANEC. REUTERS. 1 DE NOVEMBRO DE 2017. Brasil deve exportar em 2017 mais soja e menos milho que o previsto, diz Anec
SÃO PAULO (Reuters) - As exportações de soja do Brasil em 2017 deverão ser maiores do que o inicialmente previsto, enquanto as de milho tendem a cair abaixo do anteriormente projetado, informou nesta quarta-feira a Associação Nacional dos Exportadores de Cereais (Anec).
Conforme a entidade, os embarques de soja pelo país neste ano deverão totalizar 66 milhões de toneladas, acima das 64 milhões de toneladas previstas anteriormente e bem superiores às 50,5 milhões de toneladas de 2016, quando a safra foi prejudicada pela seca.
“A demanda internacional se mantém muito forte, principalmente a demanda da China. Além disso, devido aos preços, a soja brasileira continua competitiva no mercado internacional. E nosso estoque era muito grande após uma safra recorde”, afirmou à Reuters o assistente executivo da Anec, Lucas Trindade.
Conforme dados da Anec, do total exportado até o momento no ano, de 63,5 milhões de toneladas, um volume de aproximadamente 47,5 milhões de toneladas teve como destino a China, o que representa cerca de 75 por cento de toda a soja comercializada pelo Brasil no mercado internacional.
No caso do milho, a associação prevê agora exportações de 30 milhões de toneladas no ano fechado, bem acima das 17,4 milhões de toneladas de 2016, quando houve quebra de safra por causa da seca, mas abaixo das 32 milhões de toneladas previstas anteriormente.
“O preço do milho está muito baixo, e os produtores não estão satisfeitos. Muitos optam por segurar a mercadoria à espera de preços mais altos”, explicou Trindade.
No acumulado do ano até outubro, as exportações de milho têm alta de 37 por cento em comparação ao ano passado, para 21,5 milhões de toneladas.
OUTUBRO
Especificamente para o mês passado, o Brasil exportou 2,7 milhões de toneladas de soja, o maior volume já registrado para o período, superando o recorde anterior, observado em 2015, de 2 milhões de toneladas, segundo a Anec.
Para novembro, aproximadamente 1,5 milhão de toneladas estão estimadas para embarque nos portos brasileiros.
Em relação ao milho, os embarques no mês passado totalizaram 4,4 milhões de toneladas, acima da média para o período, mas abaixo das 4,9 milhões de toneladas de igual mês de 2016, ainda de acordo com os cálculos da Anec.
Neste mês de novembro, cerca de 3,8 milhões de toneladas de milho estão programadas para serem embarcadas nos diferentes portos brasileiros, concluiu a Anec.
Por José Roberto Gomes
FENABRAVE. PORTAL G1. 01/11/2017. Venda de veículos novos cresce 27,5% no Brasil em outubro. Comparação é com o mesmo mês do ano passado. No acumulado de 2017, alta é de 9,28%.
Por G1
A venda de carros, comerciais leves, caminhões e ônibus novos cresceu 27,56% em outubro, na comparação com o mesmo mês de 2016, informou a federação dos distribuidores, a Fenabrave, nesta quarta-feira (1).
No mês passado foram emplacados 202.860 veículos, contra 159.032 em outubro do ano passado. É o segundo melhor resultado do ano, atrás apenas de agosto, que registrou 216 mil unidades.
No acumulado do ano, foram vendidos 1,82 milhão de veículos novos no país - uma alta de 9,28% sobre o verificado no mesmo período do ano passado.
Venda de veículos novos no Brasil em 2017
Agosto foi o melhor mês no ano
fevereiro
● Novos: 135.663
● Novos: 135.663
Fonte: Fenabrave
O avanço é puxado pelas vendas de automóveis e comerciais leves (picapes, vans e furgões), que representam a grande maioria dos emplacamentos e tiveram crescimento de 26,9% no mês e 9,69% no acumulado do ano, também na comparação com os mesmos períodos de 2016.
Por marcas
Entre os carros de passeio e comerciais leves, a General Motors (GM) liderou o mercado brasileiro por mais um mês, com 18,5% do total ou 36.517 emplacamentos.
Em seguida, aparece a Fiat com 25.707 unidades (13,07%) e a Volkswagen com 23.659 unidades (12,03%).
Por modelos
O Renault Kwid não conseguiu manter o bom desempenho de vendas de setembro, quando ficou com a vice-liderança do mercado, e caiu para a 17ª posição no mês de outubro.
Cada vez mais líder, o Chevrolet Onix segue na primeira posição, com quase o dobro do segundo colocado, o Ford Ka. O Hyundai HB20 aparece logo atrás, em terceiro.
Entre os SUVs, o Jeep Compass ultrapassou o Honda HR-V e virou o novo líder do segmento mais quente do momento, no acumulado de janeiro a outubro.
Veja os 10 carros mais vendidos de outubro de 2017
10. Honda HR-V
4.488
4.488
Pesados
O setor de veículos pesados mostra recuperação, mas ainda não conseguiu reverter o resultado negativo do início do ano.
As vendas de caminhões subiram 47% em outubro, para 5.055 unidades, enquanto as de ônibus aumentaram 54,56%, para 1.170 unidades.
Mesmo assim, no acumulado do ano, o segmento ainda apresenta queda de 2,84%.
Motos
Com problemas no crédito, o mercado de motocicletas também "patina" ainda. Em outubro, foram emplacadas 68.235 unidades, o que representa uma alta de 5,37% sobre o mesmo mês de 2016. No entanto, no acumulado do ano, ainda há queda de 15,76% nas vendas.
FENABRAVE. REUTERS. 1 DE NOVEMBRO DE 2017. Venda de veículos novos no Brasil sobe em outubro para 202,9 mil unidades
SÃO PAULO (Reuters) - Os licenciamentos de carros, comerciais leves, caminhões e ônibus novos no Brasil em outubro subiram 1,83 por cento sobre setembro e avançaram 27,56 por cento sobre um ano antes, para 202.860 unidades, segundo dados divulgados nesta quarta-feira pela associação que representa os concessionários, Fenabrave.
As vendas de carros e comerciais leves novos somaram 196.635 unidades em outubro, crescimento de 1,6 por cento ante setembro e alta de cerca de 27 por cento ante outubro de 2016, disse a Federação Nacional da Distribuição de Veículos Automotores.
Já os licenciamentos de caminhões somaram 5.055 unidades, expansão mensal de 11,3 por cento e anual de quase 48 por cento. As vendas de ônibus novos somaram 1.170 unidades no mês passado, alta de cerca de 6 por cento ante setembro e avanço de aproximadamente 55 por cento na comparação anual.
O desempenho geral de vendas de outubro passado foi o melhor para o mês desde 2014 e levou o total acumulado no ano para 1,822 milhão de unidades. Faltando apenas dois meses para o término do ano, as vendas estão perto de cumprir estimativas da Fenabrave, de licenciamentos de 2,247 milhões de carros, comerciais leves, caminhões e ônibus.
O segmento de motocicletas, mais afetado pela crise econômica e pela retração no crédito, também apresentou crescimentos na comparação mensal e anual em outubro, de 3 e 5,4 por cento respectivamente, para 68,2 mil unidades. No ano, porém, o segmento segue em queda sobre o mesmo período de 2016, de 15,8 por cento, a 708,5 mil motocicletas novas vendidas.
Em outubro, a General Motors (GM.N) seguiu na dianteira do mercado de carros e comerciais leves novos, com licenciamentos de 36.517 unidades, um crescimento de 22,8 por cento sobre o mesmo período do ano passado. A Fiat (FCHA.MI) teve crescimento de 5 por cento no período, para 25.707 carros e comerciais leves.
A Volkswagen (VOWG_p.DE) viu suas vendas mais que dobrarem, passando de 10.643 veículos para 23.659 unidades no mês passado. A Ford (F.N) teve licenciamentos de 20.340 carros e comerciais leves, crescimento de quase 29 por cento no período. Hyundai (005380.KS) vendeu 17.610 unidades ante 16.039 em outubro de 2016, segundo os dados da Fenabrave.
Por Alberto Alerigi Jr.
OPEP. REUTERS. 1 DE NOVEMBRO DE 2017. ENERGIA. Opep deve manter atuais cortes de produção até o fim de 2018, dizem fontes
DUBAI (Reuters) - A Organização dos Países Exportadores de Petróleo (Opep) deverá continuar no caminho ao manter os atuais limites sobre a produção em vigor para o restante de 2018, apesar de possíveis interrupções na produção no próximo ano, disseram fontes da Opep no Golfo.
A Opep e outros países produtores, incluindo a Rússia, têm cortado a produção em cerca de 1,8 milhão de barris por dia desde janeiro. O pacto foi acordado para durar até março de 2018, mas os produtores estão considerando estendê-lo.
“O sentimento da Opep é que 60 dólares por barril deveria ser o piso para os preços do petróleo no próximo ano”, disse a fonte.
O mercado tem estado preocupado sobre a possibilidade de os preços caírem, se o acordo de produção acabar.
Por Rania El Gamal
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LGCJ.:
