In April, a robust services sector more than outweighed a deepening slump in manufacturing to power the Eurozone’s economy to its strongest monthly growth since May 2023.
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IMMIGRATION IS DRIVING GROWTH IN RICH COUNTRIES
“Exceptionally large” numbers of immigrants last year entering into Australia, Canada, Spain, the U.K., and the U.S. “definitely” helped ease labor shortages and grow GDPs, the Organization for Economic Cooperation and Development (OECD) said in a study released last week.
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STRONG DOLLAR POSES DANGER TO GLOBAL ECONOMY
As the U.S. Federal Reserve keeps its interest rates near a 20-year high to combat persistent inflation, the dollar continues to sap value from other currencies and creates a danger for the global economy, The New York Times reported.
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GOING OUT OF BUSINESS TRENDS
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
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CEO COMPENSATION RISING TWICE AS FAST AS OTHER WORKERS
Compensation packages for U.S. CEOs of S&P 500 companies grew 9.2 percent this year compared to last, while average worker pay is up 4.2 percent, proxy service ISS reported.
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POWELL: RATE CUT THIS YEAR A GUESSING GAME
At a 30 April press briefing, U.S. Federal Reserve chair Jerome Powell indicated a belief that inflation will continue to ebb this year, allowing the central bank to pare back its interest rates.
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U.S. SERVICE SECTOR CONTRACTS IN APRIL
The Institute for Supply Management’s (ISM’s) April Purchasing Managers Index (PMI) for the U.S. services sector dropped from expansion into contraction, falling from 51.4 in March to 49.4 last month.
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U.S. PRODUCTIVITY NOT SHINING BRIGHT
U.S. workers’ productivity in this year’s first quarter grew by a scant 0.3 percent, compared to 3.5 percent in the quarter before.
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LABOR MARKET COOLS OFF IN APRIL
The U.S. economy added 175,000 jobs last month, compared to March’s 300,000 and analysts’ forecast of 241,000, notching the lowest monthly gain since last October.