European Commission Expects GDP to Drop 8.7%
The European Commission cut its gross domestic product forecast for 2020. Its economists expect an 8.7% drop this year. This is a downward revision of its last forecast. GDP is expected, the body said,…
Economy
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The V-Shaped Recovery Won’t Happen
There has been a perception among optimistic economists that after battered second-quarter GDP figures growth will begin to blossom at the end of the third quarter into next year. The unemployment rate will recover…
Asia’s Economy to Shrink for the First Time ‘in Living Memory’
It is 90 years since Asia started growing economically, and that period has come to an end, according to the International Monetary Fund.
CEO Economic Outlook Plunges in Q2
The Business Roundtable released results its second-quarter CEO survey, noting that the quarter's index score was the lowest in more than a decade.
For Europe, 300 Million Tourist Visits at Risk
Tourism, a mainstay of the European economies for decades, has started to wither. It almost certainly will not return to the levels of the past several years for a very long time.
US Consumer Sentiment Edges Higher in June Survey
The University of Michigan index of consumer sentiment rose for the second month in a row in June, but remains about 20% lower than at the same point last year.
Personal Income Pulls Back as Government Benefits Weaken
Despite a massive recovery in the stock market and trillions of dollars of stimulus, the U.S. economy is firmly in a recession. Friday’s round of economic numbers seemed to reflect this.
Durable Goods Report Shines Despite Pandemic Woes
The U.S. Census Bureau released its May advance report on durable good manufacturers’ shipments, inventories and orders on Thursday morning.
Q1 GDP Fails to Impress or Surprise
The U.S. economy shrank by 5% during the first quarter, according to the Bureau of Economic Analysis.
White Supremacy and Inequality in Silicon Valley
A new study shines a light on inequality among racial and ethnic groups in the Silicon Valley.
These 8 Counties Are Named After Robert E. Lee
The controversy over statues of Confederate generals and military bases named after them extends well beyond these to the names of towns, streets, schools and counties.
Federal Reserve Details $750 Billion in Corporate Bond Buying
The Federal Reserve has announced an update to its Secondary Market Corporate Credit Facility (SMCCF). The lending program may acquire up to $250 billion in outstanding corporate bonds and another effort that can purchase…
US Consumer Sentiment Climbs Higher in Preliminary June Survey
The University of Michigan Survey of Consumer Sentiment rose for the second month in a row, according to the early June report.
5 Fresh Takeaways from Jerome Powell and the June FOMC Meeting
When the Chairman of the Federal Reserve speaks, people listen. Jerome Powell has the power to move the earth and sky when it comes to monetary policy and how to help deal with the…
OECD Says World Economy Is on a Tightrope, Massive Numbers of Jobs at Stake
The conclusions of the OECD's Economic Outlook June 2020 report could hardly be uglier.