Tag: Economy

January 31, 2023

The outlook for the global economy is growing slightly brighter as China eases its zero-Covid policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine. That’s the view […]

January 31, 2023

The Kantar Worldpanel agency reported an annual rate of 16.7% during the four weeks to 22 January. It marked a steep increase on the 14.4% seen in December, when discounting by chains in the run-up to the festive season helped […]

January 24, 2023

After December’s impressive services PMI print, markets hoped for another encouraging print for January given a slightly improved outlook now that inflation appears to be headed in the right direction. This wasn’t to be the case as the new year […]

January 20, 2023

After a period of steep inflation, Americans have seen monthly price growth ease, but when will things get back to normal? The inflation benchmark, measuring price growth over a year, hit a 40-year high in June after months of sustained […]

January 18, 2023

A second consecutive monthly fall from October’s high of 11.1% suggests price rises may have peaked and the descent towards less corrosive rates, perhaps below 6% by the middle of the year, has begun. Some of this will be down […]

January 18, 2023

The British pound received support this morning after a mixed bag of inflation data. Headline inflation in the UK declined in line with expectations to 10.5% (see economic calendar below) while beat estimates likely due to labor shortages. The core […]

January 17, 2023

Average pay rose 6.4% in the three months to November, the strongest growth in 20 years excluding the pandemic period, but there’s a chasm between public and private earnings. Private sector settlements ran at 7.2%, the upward pressure driven largely […]

January 13, 2023

Russia is becoming too dependent on oil revenues to support its budget as it ramps up military spending, economists said, warning that the government may have to raise taxes if prices of crude fail to meet expectations this year. The […]

January 13, 2023

The export boom that carried China’s economy through much of the Covid-19 pandemic has lost momentum, adding urgency for Beijing to seek growth drivers elsewhere as the global economy struggles. The decline for Chinese exports got steeper in the final […]

January 12, 2023

Price growth in the United States cooled in December as the economy continued to show signs of weakening. Inflation landed at 6.5% compared to the 12 months prior. That figure was in line with analysts’ expectations, and a decrease from […]

January 12, 2023

Food prices rose 0.3% in December while the energy index declined 4.5%, as energy and gas prices continue to drop at the pumps. The biggest contributor to the index, shelter, contributed 0.8% to the overall monthly change from November. “The […]

January 11, 2023

An “eye-watering” £42bn is outstanding in tax debt, with about 5% of tax owed each year failing to be collected by HMRC, according to the Commons Public Accounts Committee. The Liberal Democrats labelled the amount “absolutely staggering” as the country […]

January 6, 2023

Estonia’s consumer price inflation accelerated sharply in 2022, mainly due to higher housing-related prices, while price growth slowed in December, preliminary figures from Statistics Estonia showed on Friday. Consumer price inflation surged to 19.4 percent in 2022 from 4.6 percent […]

January 6, 2023

The Netherlands’ consumer price inflation eased further in December to the lowest level in six months, largely due to a slowdown in the price growth of energy, preliminary data from the Central Bureau of Statistics showed on Friday. The consumer […]

December 29, 2022

The number of people seeking unemployment benefits rose only slightly last week with the labor market remaining strong despite the Federal Reserve’s efforts to cool the economy and hiring. Applications for unemployment aid for the week ending Dec. 24 climbed […]

December 29, 2022

The first two quarters of 2022 began with negative growth in the gross domestic product. It seemed as if we were headed into a recession. The Fed had to tame inflation that was getting out of control, so it raised […]

December 27, 2022

Thailand’s economy may accelerate next year and hit the 3.8% growth forecast provided its vital tourism sector will get a boost from China’s reopening plans needed to offset slowing global demand, the finance minister said on Tuesday. Growth in southeast […]

December 16, 2022

Delinquencies and charge-offs continue to worsen for major credit card issuers, as consumers battle higher prices and unemployment creeps up. Discover Financial Services and Synchrony Financial this week each reported increases in delinquencies and charge-offs. Although net charge-off rates have […]

December 15, 2022

U.S. retail spending and manufacturing weakened in November, signs of a slowing economy as the Federal Reserve continues its battle against high inflation. November retail sales fell 0.6% from the prior month for the biggest decline this year, the Commerce […]

December 15, 2022

U.S. unemployment filings declined last week to the lowest level since late September, a sign the labor market remains historically tight. Initial jobless claims, a proxy for layoffs, fell by 20,000 to a seasonally adjusted 211,000 last week, the Labor […]