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 …
First-Time U.S. Weekly Jobless Claims Fell Below 1 Million Read More »
In 2020, American citizens will have to choose between the current President Donald Trump and former vice president of the country. This month Joe Biden made an important decision, as he announced his running mate. Senator Kamala Harris will be his running mare in the 2020 presidential election. Importantly, Harris shares of the former vice …
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 …
U.S. Government Decided to Maintain 15% on Airbus Aircraft Read More »
The U.K. has one of the largest economies in the world. However, the economy of the U.K. contracted by 20.4% in the second quarter of the year compared to the previous three months. Interestingly, gross domestic product (GDP) expanded by 8.7% during the first month of summer. In May, GDP expanded by 1.8%. As a …
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 …
Singapore’s Economy Contracted by 42.9% in the Q2 Read More »
The coronavirus pandemic continues to affect the U.S. economy. The U.S. economy added more than 1.7 million jobs in July. Based on the information provided by the Labor Department, nonfarm payrolls increased by 1.763 million for the month. Importantly, the unemployment rate dropped to 10.2% from its previous 11.1%. Furthermore, this result surpassed expectations. Moreover, …
Countries around the world are struggling to deal with problems created by the coronavirus crisis. This makes sense, as millions of people lost their jobs. Moreover, it is still too early to analyze all the issues connected with the pandemic and how they affected the global economy. However, people should pay attention to the economy …
General Administration of Customs and Local Economy Read More »
On Wednesday, Sweden’s Statistics Office released information about the country’s gross domestic product (GDP). According to a flash estimate from the statistics office, Sweden’s GDP fell 8.6% in the second quarter of the year. It is worth noting that, it was the largest single quarterly drop in modern history. This result is significantly worse …
The state of Latin America’s third-largest economy was far from being ideal even before the coronavirus pandemic. Importantly, the local economy was struggling to deal with problems. On Tuesday, the country’s government made an important announcement. Based on this announcement, the government reached a deal with creditors to restructure $65 billion in sovereign debt. It …
Argentina’s Government, Creditors, and Local Economy Read More »
The U.S. has the largest economy in the world, but there are certain challenges as well. For example, excessive government debt levels have the potential to affect economic stability. Thus, it is important to learn more about the national debt and its influence on the economy. It is worth noting that many lawmakers would like …
U.S. National Debt and its Impact on the Economy Read More »
The state of the world’s largest economy is far from being ideal. Based on the information provided by the Bureau of Economic Analysis, the U.S. economy contracted at a 32.9% annual rate in the second quarter. Unfortunately, the coronavirus pandemic had a tremendous impact on the local economy. As a result, the U.S. plunged into …
Online shopping has step-by-step become a part of modern life all around the world. Moreover, people hear about Amazon and Alibaba on a daily basis. However, online shopping remains a fraction of overall retail sales. According to official data, China’s online sales of physical goods still only account for about a quarter of overall retail …
Chinese Companies, E-Commerce, and Coronavirus Pandemic Read More »
In the middle of the COVID-19 recession, Australia suffers another painful blow. The Consumer Price Index fell by 1.9% in the June 2020 quarter. The country recorded a negative inflation rate of 0.3%, last seen during the Asian Financial Crisis of 1997-1998. The fall is primarily due to the Morrison administration’s decision for free childcare. …
Australia’s Dilemma: Consumer Price Index on Historic Low Read More »
The coronavirus pandemic caused a lot of problems for the countries around the world and the world’s largest economy is not an exception. Moreover, the U.S. has the highest number of cases around the globe. Unfortunately, the number of cases surpassed 4 million recently. Importantly, the U.S. economy is recovering from what experts think will …
U.S. Economy in the Second Quarter and Risk Factors Read More »
After retreating slightly on Tuesday, the Rand regained its momentum witnessed in the past six weeks against a weak USD. The South African Rand traded at 16.46 against the dollar on Wednesday. The dented USD is likely to remain in the status quo. Meanwhile, the Fed expected to retain its dovish monetary policy until the …
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