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Economy in Americas
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U.S. Consumer Sentiment Improves Much More Than Expected In August
UNITED STATES, 2017/08/22 With consumer expectations showing a significant rebound, the University of Michigan released a statement on Friday showing a much bigger than expected development in U.S. consumer sentiment in the month of August. The statement said the preliminary reading on the consumer sentiment index for August jumped to 97.6 from the final July reading of 93.4. Economists had expected the index to inch up to 94.0. -
Here’s why everybody is so interested in Canada’s inflation data today
CANADA, 2017/08/21 Canadian consumer prices showed some signs of life last month, Statistics Canada said Friday in a statement that should bolster policy makers’ confidence inflation is trending higher from extremely low levels. Annual inflation accelerated to 1.2 % in July, in line with economist expectations, next falling to an almost two-year low of 1 % in June. The statement as well showed a second straight gain in core inflation. -
Canada’s unemployment rate falls to lowest in nearly nine years
CANADA, 2017/08/21 The economy extended its winning streak in July, posting its eighth consecutive month of job increase while the unemployment rate dropped to its lowest point since the start of the financial crisis nearly nine years ago. The unemployment rate fell 0.2 % points to 6.3 %, a level not seen since October 2008, as the number of people looking for work declined, Statistics Canada reported Friday. The decrease came as the economy pumped out 10,900 net new jobs for the month. That followed staggering employment increase of 45,300 in June and 54,500 in May. -
Why the Trump economy keeps on winning
UNITED STATES, 2017/08/20 With all the chaos in the United States, it’s easy to miss the fact that Trump, and particularly the Trump economy, just keep on winning With all the outrage in the press over Trump’s Charlottesville comments, with CEOs abandoning him left and right, with Trump disbanding his business councils and with Trump-bashing having become a national sport conveying a comically dysfunctional White Home that can’t get anything done, it’s easy to miss the fact that Trump, and particularly the Trump economy, just keep on winning. Unemployment is down to 4.3 %, the lowest in 16 years, and black unemployment is at 7.5 %, the lowest in 17 years. Gallup’s Job Creation Index is at record highs, its “good jobs” index is steadily climbing and it reports that consumer spending is at a nine-year high. Inflation is down to 1.6 %. The stock market is at record levels with US$4 trillion in new wealth having been added. In nods to the strength of the Trump economy, the Federal Reserve increased interest rates three times since his election, compared to only once in the previous eight years. Economic increase has climbed to 2.6 %, well above that of the anemic Obama years. -
Chile presidential candidate Pinera would modify pension system
CHILE, 2017/08/03 Chilean presidential candidate Sebastian Pinera said on Wednesday that the national would increase its support of poorer pensioners if he were elected, but he stopped short of the additional radical reform proposed by incumbent President Michelle Bachelet. Conservative hopeful Pinera led Chile between 2010 and 2014 and is the favorite to win the November vote or the likely second round run-off in December. -
U.S. GDP Growth Accelerates In Line With Estimates In Q2
UNITED STATES, 2017/07/30 Economic activity in the U.S. increased in line with economist estimates in the second quarter, according to a statement released by the Commerce Department on Friday. The statement said real gross domestic product climbed by 2.6 % in the second quarter next rising by a downwardly revised 1.2 % in the initial quarter. Economists had expected GDP to increase by 2.6 % in the second quarter compared to the 1.4 % increase that had been reported for the previous quarter. -
Despite low unemployment, there is room for growth
UNITED STATES, 2017/07/08 The unemployment rate rose very slightly to 4.4 % in June, as the estimated size of the labor force expanded at its fastest rate (361,000) since last July (406,000). This is the second consecutive June in which the labor force estimate reversed a large change in May. Thus, despite the rise in the unemployment rate, 245,000 net new jobs in June raised the in general employment-to-people ratio (EPOP) from 60.0 % in May to 60.1 % in June. Much larger swings in the in general EPOP are not uncommon and single month declines (as with the 0.2 % point fall in EPOP from April to May) often do not reflect the national of the labor market. Movements of 0.3 % points are not uncommon. -
OECD: global growth too weak to trim inequalities
WORLD, 2017/06/20 THE small pick-up in world increase expected this year is not enough to trim inequalities around the world, the OECD said yesterday as it called on nations to launch reforms to remedy the situation. “We need a additional inclusive, rules-based globalization that works for all, centered on people’s well-being” said OECD chief Angel Gurria, as the body released updated economic forecasts. The Organisation for Economic Cooperation and Development, which provides analysis and policy advice to advanced economies, increased its estimate for world increase this year by two tenths of a % point to 3.5 % on a recovery in world trade, even if remains below the levels before the onset of the world economic crisis. -
BRICS continues to drive global economy
WORLD, 2017/06/20 BRICS will continue to be a increase engine of the world economy despite difficulties and challenges, Chinese Finance Minister Xiao Jie said Monday. "We firmly believe the economic condition of BRICS will be better under our joint effort," said Xiao in an interview on the sidelines of the second BRICS Finance Ministers and Central Bank Governors Conference. Slower-than-expected world economic recovery, policy uncertainties in developed nations, de-globalization and world protectionism caused a complex economic environment for BRICS, Xiao said. -
Here’s a forecast that should worry investors betting on a second-half surge in the economy
UNITED STATES, 2017/06/20 Investors betting on a strong pickup in economic increase may want to consider a new estimate hitting Wall Street on Monday. The New York Federal Reserve presently expects U.S. economic increase at an annualized rate of 1.9 % for the second quarter, down from a 2.3 % estimate. The bank as well expects annualized increase of 1.5 % in the third quarter, down from 1.8 %.
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