Business activity in the 20-country Eurozone continued to slow this month after the region fell into a technical recession during this year’s first quarter, as we reported in “Eurozone in Recession” (13 Jun 2023).
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Jun 27 2023
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EU LOSES CONFIDENCE IN CHINA’S ECONOMIC POWER
European businesses are less confident in China’s economy now that its expected post-COVD economic boom has busted and its relations with Europe and the U.S. are deteriorating, according to a survey by the European Union Chamber of Commerce in China.
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IMF DEVELOPING GLOBAL DIGITAL CURRENCY PLATFORM
The International Monetary Fund (IMF) is developing a platform that central banks’ digital currencies (CBDCs) can use to clear transactions between countries, executive director Kristalina Georgieva announced on 19 June.
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CENTRAL BANKS: NOW THE HARD PART BEGINS
Overall inflation has been falling in most countries in recent months as central banks have used higher interest rates to rein it back.
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GET READY FOR THE WORST: WORLDWIDE ECONOMIC SLOWDOWN
Activity in the services economy in Australia, the Eurozone, and Japan fell more sharply than expected, according to purchasing managers indexes (PMIs) published last week by S&P Global, while manufacturing activity in key locales continued to be weak.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s plain and simple. Across the globe, there are more and more forecasts for rising interest rates and more fears of recession. In this 44 of our job-cut report, the biggest job cuts are from the UBS banksters who are ready to fire some 35,000 Credit Suisse employees following its emergency takeover of the bank.