On 24 September, the People’s Bank of China (PBC) announced its most dramatic stimulus since the COVID lockdowns in an attempt to revive China’s torpid economy and restore confidence after months of disappointing economic results.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Sep 24 2024
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EUROPEANS ARE BUYING FEWER CARS
In August, the European Union saw an 18-percent drop in registrations for new cars, year on year, reflecting weak demand not only for electric vehicles but also for new cars in general.
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WILL RUSSIA’S OIL REVENUE DECLINE STEADILY THROUGH 2027?
Russia’s government projects oil revenues declining 14 percent from now through 2027, according to a draft Kremlin budget obtained by Bloomberg.
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WILL THE FED’S RATE CUT BE A GREEN LIGHT FOR OTHER CENTRAL BANKS?
Central banks in Canada, the Eurozone, Norway, Sweden, Switzerland, and the U.K. cut their interest rates before the U.S. Federal Reserve did.
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GERMANY AND U.K., ECONOMIC BLUES
In Germany, the highly-regarded ZEW Indicator of Economic Sentiment plunged from 19.2 in August to 3.6 in September. Analysts had expected a reading of 15.5.
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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
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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SPOTLIGHT: BIGS GETTING BIGGER
Teresa Ribera, formerly Spain’s deputy prime minister, has been named the European Union’s “competitiveness minister,” putting her in charge of pumping up mergers and acquisitions, while also pushing the region’s green transition and overall economic competitiveness.
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DON’T BET ON IT: CEOS SAY REMOTE WORK IS ENDING
Seventy-nine percent of CEOs told KPMG’s 2024 CEO Outlook Survey that remote work will largely be over within two years.