Thu, March 28, 2024

Economy

France and its economy

France to Spend More than $100 Billion to Boost the Economy

France has one of the largest economies not only in the European Union but in the world as well. This fact once more underlines the importance of the local economy. Nevertheless, even for such a huge economy, the coronavirus pandemic created tons of problems. Moreover, the pandemic had a tremendous impact on France. It won’t …

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Australian Dollar, Economy and First recession in nearly 30 years

Australia’s Economy Fell into its First Recession in Decades

This Wednesday, Australia became another country to officially enter a recession. The coronavirus pandemic continued to affect the economies around the world and the local economy is not an exception. As a result, the country’s economy fell into its first recession in nearly 30 years. Importantly, gross domestic product (GDP) shrank 7% in the April-to-June …

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cryptocurrency industry in India

Indian Economy Contracted by 23.9% in the First Quarter

The state of the local economy was far from being ideal even before the coronavirus pandemic. However, the pandemic created additional issues for one of the world’s largest economies. Unfortunately, the coronavirus continues to spread in the country. On Monday, India reported 78,512 new coronavirus infections. Moreover, on Sunday the country posted the world’s biggest …

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The state of Chinese economy

How the World’s Second-Largest Economy Deals With Pandemic

People, as well as companies all over the world, are working hard to deal with the economic impact of the coronavirus pandemic. To have a better understanding of the situation, it is important to learn more about the world’s second-largest economy. Based on the information provided by the National Bureau of Statistics, the official manufacturing …

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Inflation

How Coronavirus Pandemic Affected the U.S. Labor Market

The coronavirus pandemic continues to dominate the headlines, and it is not surprising as millions of people around the world lost their jobs. There are other problems as well. However, unemployment is a very serious issue. Notably, more than 1 million Americans made the decision to apply for unemployment benefits for the first time, for …

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Oil prices and restrictions

International Energy Agency Lowered its Global Oil Forecasts

On Thursday, the International Energy Agency (IEA) lowered its global oil demand forecasts for the first time in several months.  The coronavirus pandemic, as well as problems connected with the aviation sector affected its forecasts. A monthly report from the agency shows expectations of the global oil demand for 2020 to reach 91.1 million barrels …

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Dollar

First-Time U.S. Weekly Jobless Claims Fell Below 1 Million

The U.S., the world’s largest economy, is struggling to cope with the economic impact of the coronavirus pandemic. Thankfully, first-time jobless claims fell below 1 million for the first time since mid-March. This means the labor market is continuing its recovery from the coronavirus pandemic. Interestingly, there were total claims of around 963,000 for the …

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U.S. government and Airbus

U.S. Government Decided to Maintain 15% on Airbus Aircraft

People all over the world have at least some knowledge regarding the U.S.-China trade tensions. However, relations between the U.S. and the European Union (EU) are also quite complicated. The U.S. government decided to maintain 15% tariffs on Airbus aircraft and 25% tariffs on other European goods. Importantly, the EU tried to resolve a long-term …

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The economy of Singapore and the main challenges

Singapore’s Economy Contracted by 42.9% in the Q2

On Tuesday, Singapore’s Ministry of Trade and Industry released information regarding its economy. According to the data provided by the ministry, the local economy contracted by 42.9% in the second quarter of 2020 compared to the previous quarter on an annualized, seasonally adjusted basis. Importantly, the country’s economy contracted more than initially expected. The updated …

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