The week in charts: Unemployment rises, Boeing totters, Apple's mojo fades
Unemployment rises in urban rural India
India's unemployment rate rose to 5.6% in May from 5.1% in April, according to the latest periodic labour force survey (PLFS) report released by the statistics ministry. The rise was on account of both rural and urban unemployment. Rural unemployment rose 60 basis points to 5.1%, while urban unemployment increased 40 basis points to 6.9%. The increase in joblessness could be attributed to seasonal patterns, especially in rural areas, where activity may pick up in June due to kharif sowing. Urban unemployment may need close monitoring.
Also read: Last man in, first man out? Top execs prefer to stay than jump jobs
Oil spikes amid conflict, but fuel has a buffer
The escalating conflict between Israel and Iran has led to a surge in oil prices, with Brent crude futures currently hovering around $75 per barrel as opposed to a recent low of $64 per barrel average in May. While rising crude oil prices could impact India's growth and current account deficit, a significant impact on fuel prices is unlikely since the government has the buffer to cut excise duties on petrol and diesel. The recent trend shows petrol and diesel prices have remained stable despite volatility in crude oil prices.
Wholesale inflation plunges to 14-month low
0.39%: That's India's wholesale inflation rate for May, a 14-month low, driven by falling prices of food, fuel and key manufacturing items. Wholesale food inflation dropped to 1.72%, with sharp deflation in vegetables, pulses and potatoes. This comes after retail inflation eased to a six-year low of 2.8%, signalling broad price stability. A favourable base, lower global commodity prices, and hopes of a normal monsoon are expected to keep inflation subdued in the coming months.
Boeing's blues give Airbus the edge
The recent Air India crash has added to Boeing's troubled run, which has severely hampered its operations and profitability. Between 2015 and 2025, Boeing saw 467 accidents and 1,458 deaths, compared to Airbus's 246 accidents and 564 deaths—despite similar fleet sizes, an analysis by howindialives.com showed. Boeing's reputation has taken repeated hits since the 737 Max crashes of 2018 and 2019, leading to grounded planes, inquiries and losses. Meanwhile, Airbus has stayed low-key but consistent, delivering more aircraft and reporting steady profits.
India's trade balance improves
India's trade deficit narrowed sharply to $21.9 billion in May from $26.4 billion in April, driven mainly by lower imports. Merchandise exports stood at $38.7 billion, up slightly from $38.5 billion in April. Imports on the other hand fell sharply to $60.6 billion from $64.9 billion in April. Falling crude and gold imports also supported the narrowing gap. While India's trade balance improved from the previous month and year-ago period in May, exports were 2.2% lower year-on-year.
Also read: US-China trade war blows hot and cold for India
Hindustan Zinc's capacity-boost plan
₹12,000 crore: That's the size of the new expansion plan by Hindustan Zinc Ltd to boost its metal capacity. According to a Mint report, the company plans to add a capacity of 250 kilo tonnes per annum (ktpa). This would be the first phase of its ambitious plan to double metal output over the next few years. To achieve its goals, the company's board has approved the investment to add a new smelter at its integrated zinc metal complex in Debari, Rajasthan.
Apple's year to forget
Apple's Worldwide Developers Conference (WWDC) 2025 was meant to showcase innovation. Instead, it highlighted the company's deeper struggles. Apple's shares have declined nearly 20% this year, marking the worst performance among big tech firms, an analysis by howindialives showed. The iPhone maker is facing persistent issues from stagnant sales, regulatory heat on its services business, to a shrinking Chinese market. While rivals push ahead in AI, Apple lags, relying on partners such as OpenAI. Overall, weak innovation and global pressures have made 2025 a tough year for the tech giant.
Also read: Can Apple's 'affordable' iPhone 16e be a flagship-killer?
Chart of the week: Nuke check
Nine countries, including the US, Russia, UK, France and India, collectively held around 12,241 nuclear weapons, with about 3,912 deployed and 2,100 on high operational alert, a report by Stockholm International Peace Research Institute showed. The US and Russia together own nearly 90% of all nuclear warheads.
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Israel urges China to pressure Iran to rein in military, nuclear ambitions
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Time of India
2 hours ago
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Oil prices little changed as investors look ahead to OPEC+ meeting
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Oil futures were little changed on Wednesday as investors are wary ahead of a meeting of major producers this week to determine output levels for August. Brent crude was up 1 cent at $67.12 a barrel at 0124 GMT, while U.S. West Texas Intermediate crude fell 5 cents to $65.40 a expectations received a boost on Tuesday after a private-sector survey showed factory activity expanded in June in China, the world's biggest oil importer, analysts Iran and Israel have halted attacks on each other following their 12-day conflict, Brent has traded between a high of $69.04 a barrel and low of $66.34 since June 25, as concerns of supply disruptions in the Middle East producing region have ebbed. Oil prices seem to be in a tight range as we've seen a reduction in geopolitical risk and nerves about what OPEC may do in regards to raising production," said Phil Flynn, senior analyst with the Price Futures have been kept in check by expectations that the Organization of the Petroleum Exporting Countries and its allies including Russia, know as OPEC+, will boost its August crude oil output by an amount similar to the outsized hikes agreed in May, June, and OPEC+ sources told Reuters last week the group plans to raise output by 411,000 barrels per day next month when it meets on July market is already seeing the results of the previous OPEC+ increases with Saudi Arabia, the world's biggest oil exporter, lifting shipments in June by 450,000 bpd from May, according to data from Kpler, its highest in more than a the U.S., crude oil inventories rose by 680,000 barrels in the past week, according to sources citing figures from the American Petroleum Institute. Official data from the Energy Information Administration is due Wednesday at 10:30 a.m. ET. U.S. non-farm payrolls data due on Thursday will shape expectations around the depth and timing of interest rate cuts by the federal reserve in the second half of this year, said Tony Sycamore, analyst at interest rates could spur economic activity which would in turn boost oil demand Investors are also watching trade negotiations ahead of U.S. President Donald Trump's tariff deadline of July 9. Trump on Tuesday said he is not thinking of extending the deadline.
Economic Times
2 hours ago
- Economic Times
Oil prices little changed as investors look ahead to OPEC+ meeting
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