Americans’ mood about the economy rose in early November to its brightest in six months, according to the University of Michigan’s monthly survey of consumers’ moods and views.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Nov 12 2024
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SPOTLIGHT: BIGS GETTING BIGGER
Private equity firms Energy Capital Partners (ECP) and KKR have entered a partnership to invest a combined $50 billion to build data centers and energy supplies for them to support the widespread adoption of artificial intelligence (AI).
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SPOTLIGHT: CHINA’S ECONOMIC MISERY
China has completed arrangements to open a $1.4-trillion fund for local governments engulfed by debt.
The funds to help local governments clear “hidden” or off-book debt will be available until 2029, officials announced at an 8 November press briefing.
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BANK OF ENGLAND CUTS INTEREST RATE, SEES INFLATION RISING
By a vote of eight to one, the Bank of England’s (BoE’s) Monetary Policy Committee cut the bank’s key interest rate from 5 percent to 4.75 percent on 7 November.
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COLLAPSE OF GERMAN GOVERNMENT LEAVES ECONOMY IN LIMBO
Germany’s governing coalition under chancellor Olaf Scholz has crumbled after Scholz fired finance minister Christian Lindner amid disputes over how to rescue the country’s economy, on which much of Europe’s productivity depends.
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FRENCH AND GERMAN MANUFACTURING SEE SHARP DECLINE IN SEPTEMBER
In September, French and German factory activity contracted more than expected, signaling a bleak end to a year in which the sector already suffered from stiff competition from China, fallout from the Ukraine war, and a global economy still in recovery.
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FOOD PRICES REACH 18-MONTH HIGH
The prices consumers pay for cheese, sugar, wheat, vegetable oils, and other staples has shot to their highest since April 2023, the United Nations Food and Agriculture Organization (FAO) reported.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The retail, restaurant, manufacturing, automotive, and tech industries continue to be hit hard as prices increase and demand slows.
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GLOBAL INCOME INEQUALITY ON THE RISE
Ninety percent of the 164 countries in a new study are enacting economic policies “highly likely to increase economic inequality,” according to study authors Oxfam and Development Finance International.