The new report helps to understand the impact of the coronavirus pandemic on the luxury market. It is not surprising that people around the world are trying to spend less money on luxury goods. However, China’s domestic market is still expected to grow. The country’s wealthy residents stayed close to home due to the coronavirus …
China is set to Become the World’s Biggest Luxury Market Read More »
Millions of people across the U.S. and elsewhere lost their jobs. Moreover, some of them are still out of work. Hopefully, U.S. retail sales increased in October. However, retail sales missed expectations. However, this is not the end of the story. Retail sales could slow further, affected by rising new Covid-19 infections and declining household …
U.S. Retail Sales, Economy, and Commerce Department Read More »
The world’s second-largest economy continues to recover from the damage caused by the coronavirus pandemic, and this fact once more underlines the strength of the country’s economy. Interestingly, China’s factory output rose faster-than-expected in October. According to the National Statistics Bureau, industrial production grew 6.9% in October from a year earlier. People should take into …
There is no lack of trade agreements in the world. Last week more precisely, on Sunday, China and 14 other countries signed the world’s largest trade agreement. This deal will further strengthen China’s political and economic influence in the region. The signing cemented the Regional Comprehensive Economic Partnership (RCEP) as the world’s largest trading block. …
Importance of the World’s Largest Trade Agreement Read More »
The state of Greece’s economy was far from being ideal even before the coronavirus pandemic. The tourism industry plays an important role in the country. However, the pandemic created a lot of problems for the economy. Greece is struggling to cope with challenges associated with the ongoing situation. Greece introduced new tax incentives in an …
The coronavirus pandemic remains one of the most discussed topics in the world for more than six months. Unfortunately, governmental as well as private organizations are struggling to cope with problems caused by the pandemic. Moreover, even the countries with the largest economies in the world suffered significant losses. It is worth noting that the …
U.K. Economy in the Third Quarter and Main Findings Read More »
The presidential race in the U.S is over, but apart from divided society, president-elect Joe Biden will have to deal with a vulnerable economic recovery under the threat from a resurgent crisis. Moreover, it won’t be easy to work with Congress as well as the Senate. The world’s largest economy suffered huge losses this year …
The dispute between the European Union and the U.S. started a long time ago. The EU will impose tariffs on up to $4 billion worth of U.S. products on Monday. The bloc made the decision due to a lack of progress from America on resolving a long-standing dispute over aircraft subsidies. As mentioned earlier, the …
Governments around the world are willing to do whatever it takes to minimize the impact of the coronavirus pandemic on the local economy. However, the pandemic is far from being over. In fact, it is hard to determine how long it would take to stabilize the situation. Importantly, even the world’s largest economy is struggling …
Long-Term Unemployment and the World’s Largest Economy Read More »
The U.K. has one of the largest economies in the world, but the state of its economy was far from being ideal even before the coronavirus pandemic. It is worth mentioning that the Bank of England is injecting another $195 billion into the country’s economy, after warning of a double-dip recession because of the pandemic …
How Coronavirus and Brexit Affected the UK Economy Read More »
Indonesia is the world’s largest island country and it has the largest economy in Southeast Asia. It is worth mentioning that Indonesia fell into the first recession in 22 years as the coronavirus pandemic continues to affect the country’s economy. Southeast Asia’s largest economy saw growth fall 3.49% in the third quarter of the year. …
Southeast Asia’s Largest Economy Fell into Recession Read More »
It is no secret that countries allocated hundreds of billions to solve problems created by the coronavirus pandemic. However, one issue to find billions of dollars for various projects and the second issue is how to cope with the deficit. For example, the U.S. deficit is already burgeoning and it should grow even bigger in …
U.S. Deficit, China, and a Second Stimulus Package Read More »
Countries around the world suffered losses due to the coronavirus pandemic and the U.S. is not an exception. Moreover, the country has the highest number of coronavirus cases in the world, and this fact once more highlights the severity of the problem. American families across the country are trying to deal with the situation. It …
How Coronavirus Pandemic Affected American Families Read More »
China has the second-largest economy in the world, and this fact once more underlines the importance of the local economy. Unfortunately, the coronavirus, which emerged in the Chinese city of Wuhan created a lot of problems for the local as well as the global economy. People should take into account that the pandemic is far …
China’s Manufacturing Sector and a Private Survey Read More »
The world’s largest economy suffered serious losses due to the coronavirus pandemic. Hopefully, the country’s economy surpassed expectations, as the economy grew at its fastest pace ever in the third quarter. As a reminder, the second quarter was really bad. It is worth mentioning that, third-quarter gross domestic product (GDP), a measure of the total …
U.S. Economy Grew at its Fastest Pace in the Third Quarter Read More »
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