Europeans traditionally have saved a larger share of their incomes than Americans do.
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‘A LONG, SLOW GOODBYE’ TO RUSSIA’S OIL RESERVES
Russia has depended on its oil reserves to keep its war on Ukraine, and its economy, functioning for almost four years. Now Western sanctions and heavier production from those reserves to fuel the war machine are beginning to drain that natural resource.
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LABOR MARKETS IN ADVANCED ECONOMIES ARE SEIZING UP
Employers in G7 countries, considered the world’s most advanced, hesitate to hire or to lay off workers as uncertainties over interest rates, taxes, tariffs, and artificial intelligence (AI) leaves them unable to plan, the Financial Times reported.
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GLOBAL FACTORY ACTIVITY CRIMPED BY WEAKNESS IN CHINA AND THE U.S.
Factory output contracted around the world in September as U.S. economic activity slowed, demand in China weakened, and the ongoing U.S. tariff war made customers hesitate to buy, Reuters reported.
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STUDENT LOAN DEBT IS EATING GEN X’S FINANCES
The oldest cohort of Generation X, which followed the Baby Boom generation, is closing in on retirement with many lacking the money to be ready for it. The reason: student debt.
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U.S. MORTGAGE RATES RISE, THWARTING POSSIBLE HOUSING RECOVERY
In the week ending 26 September, the U.S. national average mortgage interest rate rose for the first time in five weeks, stalling what had been a surge in home sales and an increase in applications for refinancing.
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COMPANIES ANNOUNCE FEWER LAYOFFS, ALSO SLASH HIRING PLANS
In September, U.S. employers announced layoffs affecting 37 percent fewer workers than in July. However, that bit of good news was darkened by announcements that companies plan to hire the fewest number of workers since 2009 in the months ahead, outplacement firm Challenger, Gray & Christmas reported.
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TARIFFS ARE BEGINNING TO NUDGE CONSUMER PRICES HIGHER
Donald Trump’s tariffs are pushing U.S. retail prices higher, although inflation has not jumped significantly, the Financial Times said, citing government data and corporate statements.
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U.S. LOSES JOBS IN SEPTEMBER
The U.S. economy lost 32,000 private-sector jobs last month, payroll processing service ADP reported. Economists in a Wall Street Journal survey had expected 45,000 new jobs to be added.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.