Global Economy –Rundown: The International Monetary Fund has reechoed about the increasing rate of divergence between developed and emerging economies as the Fund estimate that about 90 million persons globally would have fallen below the extreme poverty threshold since the outbreak of the pandemic. The Fund projected that the aggregate income per capita for both…
Global Economy –Rundown: According to the United State Labour Department which revealed that the Consumer Price Index for February increased by 0.4%, as the 12 months CPI through February was 1.7%, and this is the largest increase recorded since February 2020, and the month increased index was propelled by improved prices of gasoline. Based on…
Global Economy –Rundown: The Trade deficit in the month of January for United State grew by 1.9% to $68.2 Billion, this was propelled by 1.6% growth recorded on Imported goods worth over $ 221Billion, as consumer spending surged due to the recent lockdown measures, as economic activities were disrupted for the month, this translated to…
Global Economy –Rundown: The United State consumer spending for the month of January exceeded the previous month’s growth, as it grew by 2.4% compared to the dip of 0.4% recorded in December 2020. The encouraging consumer’s data for the month was attributed to the economic relief package availed to the low-income household as well as…
Global Economy –Rundown: The United State Federal Reserve’s reaffirm its commitment towards offering continuous monetary support to the economy until full recovery is attained, as the U.S. economy remained submerged with the economic woes of the pandemic outbreak. The Fed signaled its intention to remain dovish with its Monetary stand all through to at least…
Global Economy –Rundown: The United Kingdom economy felt the severe brunt of the pandemic, as the economic output contracted by magnitude last experienced after the second world war, the economy plunged by 9.9% in the year 2020, while the Gross Domestic Product for the fourth quarter grew by 1.0%. However, the recent lockdown measure implemented…
Global Economy –Rundown: The United State trade deficit for the year 2020 grew, according to the recent data from the United State Commerce Department reveals that trade deficit surged by 17.7% to $678.7billion, as export of goods and services for the year contracted by 15.7%, while import of goods and services only dipped by 9.5%…
Global Economy –Rundown: The United State Gross domestic product for the fourth quarter grew by 4%, while on an annualized basis, the United State economy contracted by 3.5% for 2020, however, the country’s economy for the fourth quarter was driven by the boost from export, nonresidential fixed investment, consumer spending, residential investment, and inventories. Further…