Moody’s Ratings has downgraded Israel’s creditworthiness for a second time this year, dropping it from A2 to Baa1 as the Gaza war, and now a conflict with Hezbollah, takes its toll on the country’s finances.
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ITALY SEES 1 PERCENT GROWTH THIS YEAR, CUTS DEFICIT REDUCTION GOAL
Italy expects its economy to expand by 1 percent this year and 1.2 percent in 2025 and says it will reduce its annual budget deficit below last year’s.
GERMANY’S ECONOMY WILL END THIS YEAR IN RECESSION
Finally repeating what we have long forecast and detailed in The Trends Journal, in a joint report, four German economic think-tanks have flipped their forecasts, saying now that the country’s economy will shrink by 0.1 percent this year.
WORLD ECONOMY WILL GROW 3.2 PERCENT THIS YEAR, OECD SAYS
Falling interest rates and the slowdown in inflation is giving households more money to spend, which will enable the global economy to grow 3.2 percent this year and by the same percentage in 2025, according to an analysis by the Organization for Economic Cooperation and Development (OECD).
AUTO LOANS ARE TURNING SOUR, CARMAX WARNS
For June, July, and August, used-car retailer CarMax reported a 14.4-percent loss in auto loan revenue, year on year, after analysts had forecast 7.4 percent growth.
U.S. ECONOMY REBOUNDED QUICKER THAN THOUGHT
The U.S. economy grew faster through 2021, 2022, and early 2023 than was previously estimated, according to revised quarterly data released by the U.S. Commerce Department last week.
IS CONSUMERS OUTLOOK REALLY BRIGHT?
U.S. consumers’ view of the current and future economy continued to improve in the University of Michigan’s final September reading of its Consumer Sentiment Index.
INFLATION FALLS FURTHER, FANNING RATE-CUT EXPECTATIONS
The Personal Consumption Expenditures Index, the U.S. Federal Reserve’s most closely-watched inflation gauge, fell to 2.2 percent in August, edging below economists’ consensus forecast of 2.3 percent and strengthening expectations that the central bank will cut rates at least once more this year.
INFLATION, CONSUMER SPENDING BARELY BUDGE IN AUGUST
The Personal Consumption Expenditures Price Index, which is the U.S. Federal Reserve’s favorite inflation measure ticked up just 0.1 percent in August from July, its smallest rise in three months, the Bureau of Economic Analysis reported.
OXFAM: WORLD’S TOP 1 PERCENT OWNS MORE WEALTH THAN 95 PERCENT OF HUMANITY
Oxfam released a report last week that showed the wealth disparity around the world and how the Bigs own everything.