IMF says risks to financial stability have increased and to remain vigilant International Monetary Fund chief Kristalina Georgieva said on Sunday that, ‘risks to financial stability have increased and called for continued vigilance although actions by advanced economies have calmed market stress’. Challenge The IMF managing director is reported toRead More →
No UK recession in 2023 The UK is expected to avoid a technical recession in 2023, according to the Office for Budget Responsibility. But the economy is still expected to shrink by 0.2%. The most common definition of recession is that of a ‘technical recession’ in which there have been twoRead More →
The U.S. economy grew thanks mainly to consumer spending but it was well below the expected growth level of 8.4% The U.S. economy is now bigger than before the pandemic hit – so why is the Fed still leaving ultra accommodative policies in place? After all – the economy, accordingRead More →
The country’s gross domestic product (GDP) reportedly increased 7.9% in the second quarter from a year ago, the National Bureau of Statistics reported Thursday. Retail sales rose 12.1% in June from a year ago. Industrial production grew by 8.3%. Sustained recovery China’s economy sustained a steady recovery – the statisticsRead More →
Prospects brighter for global economic recovery The OECD (Organisation for Economic Cooperation and Development) said the world economy is likely to expand by 5.6% in 2021. The figure for the UK is 5.1% followed by 4.7% next year. This significantly brighter outlook reflects the deployment of effective vaccines. Stimulus aidRead More →
The IMF forecast cast more doubt on the speed of global economic recovery as Covid-19 cases surge in the U.S. and in the America’s. Doubts over U.S. re-opening resurface and investors start to fret again as stocks lose momentum. Outlook downgraded The International Monetary Fund downgraded its outlook for theRead More →
UK borrowing surges to pay for Covid-19 impact The UK’s debt is now worth more than its economy after the government borrowed a record amount in May 2020. The £55.2 billion was nine times higher than in May 2019 and the highest since records began. The borrowing sent government debtRead More →
Shocking but no surprise! The UK economy shrank by a record 20.4% in April 2020 due to the damaging affects of lockdown. The monthly decline was outlined in figures reported by the Office for National Statistics (ONS). The GDP fall is three times greater than the decline seen during theRead More →
The U.S. economy slowed more than expected with the GDP reading for the first quarter coming in at -5%. Analysts have suggested that the second quarter GDP could be down by as much as 40% 1 in 4 Americans have lost their jobs Data yesterday, 28th May 2020, showed U.S.Read More →
Tensions between the U.S. and China flared up further again today. China reportedly rejected a U.S. proposal for the Security Council to meet over the issue, whilst U.S. secretary of state Mike Pompeo declared that Hong Kong is no longer autonomous from Beijing. This morning China is also reported to have approved the controversialRead More →