The next few months will tell us a lot about the shape of the coming global recovery. Despite ebullient stock markets, uncertainty about Covid-19 remains pervasive. Regardless of the pandemic’s course, therefore, the world’s struggle with the virus so far is likely to affect growth, employment and politics for a very long time. Let’s start with the
The U.S. economy shrank at a dizzying 32.9% annual rate in the April-June quarter - by far the worst quarterly plunge ever - when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said Thursday. The Commerce Department's estimate of the second-quarter decline
The world economy will go into recession this year with a predicted loss of trillions of dollars of global income due to the corona virus pandemic, spelling serious trouble for developing countries with the likely exception of India and China, according to a latest UN trade report. With two-thirds of the world’s population living in
China will push forward comprehensive deep reforms with greater strength, state media quoted President Xi Jinping as saying on Thursday. He also said China will proactively resolve risks, challenges and huge pressure from any area, according to Xinhua. Xi was speaking on the economic agenda for the second half of the year at a meeting with
Pandemic, Recession: The Global Economy in Crisis Global Outlook: Pandemic, Recession: The Global Economy in Crisis. The COVID-19 pandemic has, with alarming speed, delivered a global economic shock of enormous magnitude,leading to steep recessions in many countries.The baseline forecast envisions a 5.2 percent contraction in global GDP in 2020—the deepest global recession in eight decades,
The World Bank’s International Comparison Program has just released its latest measures of price levels and GDP across 176 countries – and the results are striking. For the first time, the ICP finds that China’s total real (inflation-adjusted) income is slightly larger than that of the US. In purchasing power parity (PPP) terms, China’s 2017 GDP was
Gold prices in India remained choppy throughout the week and ended moderately higher on Friday. June gold futures on MCX rose 0.27% to ₹46,530 per 10 gram. However, silver prices surged on Friday with July futures on MCX rising 3.27% or ₹1,538 to ₹50,096 per kg, tracking a surge in global rates. Domestic gold prices include 12.5% import
Gold prices rallied nearly 1% on Friday, following worse than expected personal spending and weak manufacturing figures. Concerns over the US and China’s locking heads are also helping to buoy the yellow metal. The dollar continued to move lower as yields edge slightly lower, which helped buoy the price of gold. Technical Analysis: Gold prices
Gold futures jumped late in the session on Friday even after U.S. equity investors breathed a sigh of relief after President Donald Trump signaled no changes to the trade deal with China despite rising tensions. During a much-awaited news conference, Trump said he would take action to eliminate special treatment towards Hong Kong. However, he
