While the world is becoming more connected, local conditions
prevail resulting in different economic returns. MyPlanIQ tracks
detailed weekly country economic trend movement. We use ETFs that
represent each geographic region and present the results here.
are available on the MyPlanIQ website.
The largest industrial nations are meeting in Seoul this week and one of the topics on the agenda is rebalancing global growth.
| Country | Symbol | 8-Nov Trend Score | Direction |
| India | INP | 57% | Week 1 |
| South Africa | EZA | 47% | Week 1 |
| Singapore | EWS | 43% | Week 1 |
| Hong Kong | EWH | 42% | Week 1 |
| Mexico | EWW | 41% | Week 1 |
| Malaysia | EWM | 40% | Week 1 |
| South Korea | EWY | 37% | Week 1 |
| Russia | RSX | 34% | Week 1 |
| Australia | EWA | 29% | Week 1 |
| Taiwan | EWT | 28% | Week 1 |
| Canada | EWC | 28% | Week 1 |
| Brazil | EWZ | 21% | Week 1 |
| Switzerland | EWL | 21% | Week 1 |
| Germany | EWG | 20% | Week 1 |
| United Kingdom | EWU | 20% | Week 1 |
| China | FXI | 19% | Week 1 |
| Belgium | EWK | 13% | Week 1 |
| The Netherlands | EWN | 13% | Week 1 |
| Japan | EWJ | 12% | Week 1 |
| France | EWQ | 9% | Week 1 |
| Austria | EWO | 9% | Week 1 |
| Italy | EWI | -7% | Week 1 |
| Spain | EWP | -17% | Week 1 |
India continues its growth as the recent visit of President Obama
signals. There is increasing pressure for India to open its markets to
the US to make the relationship a two way street.
South African Finance Minister Pravin Gordhan said
the U.S. decision to purchase bonds to pump money into the economy may
push up the rand and cost jobs. Group of 20 nations meeting in South
Korea this week need to agree on ways to stimulate their economies
without damaging those of others.
SINGAPORE Airlines has
reported a second-quarter profit of $380 million, reversing a $159
million loss during the same July-September period last year. The
results were delivered on the back of a 18 per cent jump in revenue to
$3.63 billion, as load factors and yields continued to improve, the
airline said on Tuesday.
Hong Kong launched a campaign Monday to promote itself as a global
financial hub and rejected suggestions that it was trying to counter
growing competition from Shanghai.
President Felipe Calderón, declared his support for small and medium businesses, which produce 7 out of the 10 jobs in Mexico
Japanese
Prime Minister Naoto Kan on Tuesday pledged to bring Japan into the
Trans-Pacific Strategic Economic Partnership Agreement, or TPP, saying
the trade liberalization initiative will help the country return to a
path of robust growth.
The Bank of France forecasts 0.5-percent fourth-quarter growth The French economy is struggling to put its strained public finances in order. There have been many protests about the move to increase the retirement age.
Recently
the Austrian government greed to a rigid austerity budget which
involves massive social cuts. At the same time, the government plans to
raise taxes primarily for lower and middle income brackets.
Italy
is the Eurozone's third largest economy, accounting for about 17% of
GDP and has come through in reasonable shape. The banks are strong and
Italians are Europe's best savers. Recently the the
European Commission raised its growth forecast for Italy, projecting
that faster export growth will see GDP expand by 1.1% this year up from
0.8% forecast in May.
Spain's troubled
banking sector is back in the news again. Despite the apparently
succesful stress tests carried out over the summer problems persist, and
don't seem likely to go away soon. Foremost among these is the steady
rise in problem loans which have now risen to an all-time high,
potentially endangering the credit rating of the country's financial
institutions, according to a recent report from the credit ratings
agency Moody's.
In conclusion, the G20 meeting is the big ticket item this week and what results could impact the direction of the indicators.