ILEA002062876: Australia's economic growth slows to 0.2 pct in Q3

South African Reserve Bank releases 2024 Monetary Policy Review

STORY: South African Reserve Bank releases 2024 Monetary Policy Review SHOOTING TIME: April 24, 2024 DATELINE: April 27, 2024 LENGTH: 00:02:52 LOCATION: JOHANNESBURG, South Africa CATEGORY: ECONOMY SHOTLIST: 1. various of the meeting 2. SOUNDBITE 1 (English): LESEJA KGANYAGO, Governor of SARB 3. various of the meeting 4. SOUNDBITE 2 (English): WITNESS SIMBANEGAVI, Economic Research department of the South African Reserve Bank STORYLINE: The South African Reserve Bank (SARB) released its 2024 Monetary Policy Review on Wednesday, indicating that headline inflation is only expected to return to the mid-point of the target band in the last quarter of 2025. South Africa's inflation target range is 3 to 6 percent. The report said that amid slower-than-expected disinflation in food and volatility in fuel prices, headline inflation had fluctuated in the range of 5-6 percent over the past six months. In terms of growth, the SARB anticipates that real GDP will increase to 1.2 percent this year. SOUNDBITE 1 (Engli

U.S. GDP growth slows to annual rate of 1.6 pct in Q1

STORY: U.S. GDP growth slows to annual rate of 1.6 pct in Q1 SHOOTING TIME: April 25, 2024 DATELINE: April 26, 2024 LENGTH: 0:01:06 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of exterior of U.S. Department of Commerce (April 25, 2024) STORYLINE: The U.S. gross domestic product (GDP) growth rate slowed down to an annual rate of 1.6 percent in the first quarter of this year, the U.S. Department of Commerce reported on Thursday. The latest data marks a sharp slowdown from the fourth quarter in 2023, when GDP grew by 3.4 percent, according to the Bureau of Economic Analysis. Compared to the fourth quarter, the deceleration of real GDP in the first quarter primarily reflected decelerations in consumer spending, exports, and state and local government spending and a downturn in federal government spending. These movements were partly offset by an acceleration in residential fixed investment. The newly released GDP estimate for the first quarter, in what was called an "advance" e

Turkish central bank keeps policy rate unchanged at 50 pct

STORY: Turkish central bank keeps policy rate unchanged at 50 pct SHOOTING TIME: Earlier footage DATELINE: April 26, 2024 LENGTH: 00:01:04 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish Central Bank 2. various of Turkish lira STORYLINE: Türkiye's central bank on Thursday kept its interest rate unchanged at 50 percent, saying that the monetary policy decisions in March have led to a significant tightening in financial conditions. "Considering the lagged effects of the monetary tightening, the committee decided to keep the policy rate unchanged, but reiterated that it remains highly attentive to inflation risks," the bank said in a statement, adding that it will maintain the tight monetary stance until a significant and sustained decline in monthly inflation is observed. Despite the ongoing decline, the underlying trend of monthly inflation in March was higher than expected, the statement said. "While imports of consumer goods and gold contribute to the improvement in the current

A closer look at China's economic steadiness, vitality and potential

STORY: A closer look at China's economic steadiness, vitality and potential SHOOTING TIME: Recent footage DATELINE: April 25, 2024 LENGTH: 0:02:41 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of Chinese economy related footage 2. SOUNDBITE 1 (Arabic): DIAA HELMY, Secretary-general, Egyptian-Chinese Chamber of Commerce 3. SOUNDBITE 2 (English): BENJAMIN MGANA, Chief Editor of Foreign News of The Guardian, Tanzania 4. SOUNDBITE 3 (English): BRENDAN AHERN, Chief investment officer with U.S.-based asset management firm Krane Funds Advisors LLC 5. SOUNDBITE 4 (English): XN IRAKI, Kenyan economist 6. SOUNDBITE 5 (English): STEPHEN PERRY, President emeritus of Britain's 48 Group Club STORYLINE: China's economic performance for the first quarter of this year was unveiled. Notably, the National Bureau of Statistics (NBS) reported a 5.3 percent year-on-year GDP increase in Q1, exceeding market projections and surpassing the government's annual target of around 5 percent. The performance is described as

Common prosperity goals catalyze regional cooperation in China's Yangtze River Delta

STORY: Common prosperity goals catalyze regional cooperation in China's Yangtze River Delta SHOOTING TIME: Recent footage DATELINE: April 21, 2024 LENGTH: 00:01:47 LOCATION: HANGZHOU, China CATEGORY: ECONOMY SHOTLIST: 1. various of the Yangtze River Delta 2. SOUNDBITE (Chinese): XIA SHUNLI, Deputy chief engineer of Anhui Jianghuai Automobile Group Co., Ltd. 3. various of the Anhui Jianghuai Automobile Group Co., Ltd. STORYLINE: The Yangtze River Delta, one of China's most economically vibrant regions, has set its sights on taking the lead in promoting common prosperity with regional cooperation and own initiatives within its four provincial-level regions. The delta, encompassing the provinces of Jiangsu, Zhejiang, Anhui, and Shanghai Municipality, generates nearly a quarter of China's gross domestic product (GDP) with just 4 percent of its land area. In 2023, China called on the delta to take the leading position in promoting common prosperity, aiming to create a future in which prosperity is shared by e

NW China's Xinjiang sees foreign trade value up 42.7 pct in Q1

STORY: NW China's Xinjiang sees foreign trade value up 42.7 pct in Q1 SHOOTING TIME: April 10, 2024 DATELINE: April 20, 2024 LENGTH: 0:00:57 LOCATION: URUMQI, China CATEGORY: ECONOMY SHOTLIST: 1. various of Horgos Port in Horgos, northwest China's Xinjiang Uygur Autonomous Region 2. various of a China-Europe freight train 3. various of Horgos Port in Horgos, northwest China's Xinjiang Uygur Autonomous Region STORYLINE: Total import and export value of goods in northwest China's Xinjiang Uygur Autonomous Region grew by 42.7 percent year on year to 93.63 billion yuan (about 13.2 billion U.S. dollars) in the first quarter of 2024, the second highest growth rate among all provinces, autonomous regions and municipalities in China, official data showed on Thursday. In March 2024 alone, Xinjiang's foreign trade value grew by 27.3 percent, registering growth for 29 consecutive months. From January to March, the region had conducted trade with 193 countries and regions across the globe. Kazakhstan and Kyrgyzstan

Australia sees fall in annual food consumption for first time: data

STORY: Australia sees fall in annual food consumption for first time: data SHOOTING TIME: April 17, 2024 DATELINE: April 19, 2024 LENGTH: 0:00:57 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of ABS (Australian Bureau of Statistics) 2. various of a supermarket STORYLINE: The total consumption of food by Australians has fallen for the first time on record. According to figures published by the Australian Bureau of Statistics (ABS), Australians purchased a total of 14.8 million tonnes of food and non-alcoholic beverages in the 12 months to the end of June 2023 - down 1.9 percent from 15.1 million tonnes in the previous 12 months. It marks the first time the total apparent consumption of food and non-alcoholic beverages has declined since the ABS started measuring it in 2018-19. Apparent consumption of every major food group fell, with vegetables recording the largest drop of 14 grams per person per day followed by fruit - down 12 grams - milk and non-alcoholic beverages. "Each person had 186

Japan logs trade deficit of 38 bln USD in fiscal 2023

STORY: Japan logs trade deficit of 38 bln USD in fiscal 2023 SHOOTING TIME: file DATELINE: April 17, 2024 LENGTH: 00:00:55 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street view in Tokyo STORYLINE: Japan's trade deficit in fiscal 2023 shrank around 70 percent from a year earlier to 5.89 trillion yen (about 38 billion U.S. dollars), government data showed Wednesday. In the fiscal year ended March, exports expanded 3.7 percent to 102.90 trillion yen, topping 100 trillion yen for the first time and marking a record high for the third straight year, according to a preliminary Finance Ministry report. Automobile exports, which account for about 17 percent of Japan's total, grew 30.2 percent to 17.88 trillion yen, eclipsing the previous record of 14.67 trillion yen in fiscal 2007. In contrast, imports dived 10.3 percent to 108.79 trillion yen, falling for the first time in three years, chiefly reflecting falls in imports of coal and liquefied natural gas. With a weaker yen inflati

Chinese economy in Q1 shows consolidated recovery momentum

STORY: Chinese economy in Q1 shows consolidated recovery momentum SHOOTING TIME: Earlier footage DATELINE: April 16, 2024 LENGTH: 0:00:54 LOCATION: SHANGHAI, China CATEGORY: ECONOMY SHOTLIST: 1. various of China 2. SOUNDBITE 1 (English): JELENA GRUBOR STEFANOVIC, Serbian Chamber of Commerce and Industry in China 3. SOUNDBITE 2 (English): YANN BOZEC, President of Tapestry and President & CEO of Coach, APAC Region STORYLINE: China's gross domestic product (GDP) grew 5.3 percent year on year in the first quarter of 2024, data from the National Bureau of Statistics (NBS) showed Tuesday. The country's GDP reached 29.63 trillion yuan (about 4.17 trillion U.S. dollars) during this period, the NBS data showed. On a quarterly basis, the economy increased 1.6 percent in the first three months. Many business leaders have hailed the consolidated recovery momentum of China's economy in the first quarter of this year. SOUNDBITE 1 (English): JELENA GRUBOR STEFANOVIC, Serbian Chamber of Commerce and Industry in

Swedish economy expected to remain sluggish: gov't

STORY: Swedish economy expected to remain sluggish: gov't SHOOTING TIME: April 15, 2024 DATELINE: April 16, 2024 LENGTH: 00:01:10 LOCATION: Stockholm CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference (credit: Government Offices of Sweden) 2. various of Stockholm's streets 3. various of the press conference (credit: Government Offices of Sweden) 4. various of Stockholm's Central Station STORYLINE: The Swedish economy is expected to remain sluggish with rising unemployment, the government said when presenting its spring amendment budget on Monday. The economy is expected to remain slow until 2025 with the gross domestic product expected to grow by 0.7 percent this year and 2.5 percent in 2025, the government said in a press release. Meanwhile, unemployment is expected to climb up from 7.7 percent in 2023 to 8.3 percent this year, the press release said. The spending package totaling 17.3 billion kronor (1.6 billion U.S. dollars) is considerably bigger than the 4 billion announced in

Australia's economic growth slows to 0.2 pct in Q3

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