Auto industry set to put brakes on central Europe’s COVID-19 recovery
The auto industry, long a driver of economic growth in central Europe, is likely to be one of the main drags on the region’s efforts this year to recover from Continue Reading
German economy shrank 10.1% in second quarter from previous quarter amid coronavirus shutdowns
FRANKFURT, Germany (AP) — German economy shrank 10.1% in second quarter from previous quarter amid coronavirus shutdowns. View full article at apnews.com
U.S. Consumer Confidence Retreats on Diminished Expectations
U.S. consumer confidence declined in July by more than forecast as Americans became rattled by the recent increase in Covid-19 cases and its impact on the economy and the job Continue Reading
Covid’s Next Economic Crisis: Developing-Nation Debt
The world is gearing up for a battle over developing-country debt like few it has seen before. Rich and poor countries are at loggerheads with private investors that, over the Continue Reading
Emerging Economies Face Real Risk of ‘Submerging,’ Tharman Says
Emerging economies could see the gains they’ve made over recent decades unravel, with economic, social and political consequences for the rest of the world, according to a senior Singaporean official. The Continue Reading
Plateau in European activity points to economic headwinds
Parts of the European economy which were hardest-hit by the pandemic are showing signs of recovery but other areas of activity that began to bounce back earlier have leveled off, Continue Reading
Fiscal Cliffs Threaten Fragile U.S. Recovery: Economy Week Ahead
Policymakers in the U.S. will resume contentious talks this week on another round of stimulus that could prove critical to the still-fragile recovery of the world’s largest economy. With much Continue Reading
U.S. Wages Just Jumped the Most Ever. But It’s Horrible News
The median weekly earnings of full-time workers in America jumped more than 10% in the second quarter from a year earlier, the U.S. Bureau of Labor Statistics reported today. The data Continue Reading
Stress rises for unemployed as extra $600 benefit nears end
A major source of income for roughly 30 million unemployed people is set to end, threatening their ability to meet rent and pay bills and potentially undercutting the fragile economic Continue Reading
Russia Incomes Plunged Most Since 1998 as Virus Rocked Economy
Russian incomes in the second quarter plunged by the most since the country’s 1998 default as the economy of the world’s biggest energy exporter took a double blow from the Continue Reading