inflation
Mexico’s economy demonstrated resilience in the second quarter of 2024, with GDP increasing by 0.2% from the previous quarter. This modest growth mirrors preliminary estimates and follows a downwardly revised 0.1% increase from the prior period. However, annual growth showed a more robust figure, with a 2.1% increase in Q2, slightly below the initial 2.2% forecast but a notable acceleration from the 1.5% rise in the previous quarter. Data from the Instituto Nacional de Estadística y Geografía (INEGI) reveals that this represents the second consecutive quarter of slow growth. While the service ...
Invezz
Democratic presidential candidate Kamala Harris' new call to regulate food prices and block mergers has drawn enormous flak from economists, given the poor track record of price controls. Democrats think they can make political headway with a "greedflation" narrative, blaming rising prices on business profit-seeking. There are both disreputable and respectable versions of this narrative—dumb and dumber, if you will—but they both run into the same problem: the evidence is against them. The dumber version, the one no economists endorse, says corporations got especially greedy, which made prices ...
Reason
Inflation in the Euro Area unexpectedly rose to 2.6% in July, defying market expectations of a decrease to 2.4%. This uptick, as reported by the European Union, was primarily driven by a notable increase in energy prices, underscoring the ongoing volatility in global energy markets and its impact on the broader economy. Energy expenses played a significant role in the inflation surge, rising from 0.2% in June to 1.2% in July. The prices of non-energy industrial goods also continued to climb, with a 0.7% increase in July, maintaining the same pace as the previous month. This sustained growth in...
Invezz
Sweden's Riksbank cut its key interest rate from 3.75% to 3.50% on Tuesday, the second time borrowing costs have been lowered this year. Policy makers added that they are considering as many as three more reductions in 2024, provided that price pressures remain under control. In June, the bank’s approach was slightly more cautious, proposing a maximum of three rate cuts - which includes the one seen today. "The prime driver of the reduction is the decline of the Swedish inflation rate … which is close to the inflation target of the Riksbank of 2%," said Lars Jonung, professor emeritus at the K...
Euronews (English)
The UK economy in 2024 presents a blend of promising growth figures and underlying concerns, leaving many to wonder: Is this a sustainable rebound or merely a temporary upswing? While the country has shown resilience in recovering from recent economic challenges, a closer look reveals potential vulnerabilities that could undermine this progress. Key factors such as retail performance during the men’s Euros football tournament, political uncertainty, and the direction of inflation are crucial to understanding the true state of the UK economy. Economic growth: Strong numbers, but for how long?In...
Invezz
Goldman Sachs has revised its forecast for a U.S. recession, reducing the probability to 20% following new labor market data that influenced its economic outlook. This adjustment comes shortly after the firm had increased its recession odds earlier this month based on previous data. Recession probability raised then reducedEarlier in August, Goldman Sachs had raised its 12-month recession probability forecast from 15% to 25%. This adjustment was triggered by the U.S. jobs report released on August 2, which revealed that nonfarm payrolls increased by just 114,000 in July. This figure was signif...
Invezz
Inflation, or the gradual increase in consumer prices, has been a major source of concern in the United States in recent years. Despite a recent cooldown, the overall trend indicates that prices have risen significantly since the pandemic began. The Consumer Price Index (CPI) for All Urban Consumers has risen by 20.9 percent since February 2020, well exceeding the 9.1 percent increase forecast under the Federal Reserve’s 2-percent inflation objective. This price increase was caused by a convergence of variables, resulting in a perfect storm of inflationary pressures that impacted numerous sect...
Invezz
The Netherlands’ unemployment rate figure for July was released on Thursday, coming in at 3.6%, the same as the last two months, according to Statistics Netherlands (the Centraal Bureau voor de Statistiek) The number of people without jobs came up to 370,000, while the number of people employed dropped to 9.803m, which was a decrease of 13,000. The labour force participation rate inched down from 76.1% in June, to 76% in July. Approximately 164,000 people were receiving unemployment benefits in July. The Dutch labour market has seen increased tightness in the past few months, mainly because of...
Euronews (English)
In a development that has brought some relief to concerns about the US economy, fewer Americans applied for state unemployment aid in recent weeks than economists had anticipated. This trend has helped to ease fears that the US labour market is slowing down faster than expected, which could potentially push the economy into a recession. Unemployment claims lower than expectedAccording to data released by the US Department of Labor on Thursday, the number of initial unemployment claims for the week ending August 10 stood at 227,000 on a seasonally adjusted basis. This figure is the lowest in ju...
Invezz
La récente chute du prix du bitcoin (BTC) sous la barre des 60 000 $ a fait frémir les marchés financiers, rappelant à quel point la cryptomonnaie reste vulnérable face aux aléas économiques mondiaux. En moins de deux heures, le bitcoin a effacé une hausse de 5 %, tombant à 58 914 $, en réaction à des données économiques américaines inattendues. Explications. Le bitcoin secoué par l’incertitude économique mondialeLe 14 août, le bitcoin a subi une chute brutale après avoir brièvement atteint 61 791 $. Cette baisse soudaine est survenue suite à l'annonce des chiffres d'inflation des États-Unis, ...
Cointelegraph FR
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